PDD Revenue Up 66%; The Premier League to Crack Down on Illegal Streaming

In today's ExchangeWire news digest: PDD Holdings reports revenue has risen by two-thirds; the Premier League announces a crackdown on illegal streaming; and Facebook users in Canada continue to access the site despite Meta's block on news sites.

PDD revenue surges

PDD Holdings, the parent company behind Temu and Pinduoduo, has seen revenue surge by 66%. The e-commerce giant reported ¥52.3bn (~£5.7bn) in the second quarter of the year, despite a gloomy outlook for the Chinese market.

Premier League promises illegal streaming crackdown

As England’s Premier League prepares to auction off its domestic television rights, the organisation has promised it will take a harsher stance on illegal streaming. Speaking to the Financial Times, general counsel for The Premier League Kevin Plumb stated the body has built an internal team of “content protection analysts” to identify and remove illegal content, in addition to punishing those providing it.

Facebook usage unaffected in Canada despite news block

Meta’s decision to block links to news sites in Canada has had almost no impact on Facebook’s use in the country. According to data from independent tracking firms, Facebook’s daily active users have remained mostly the same despite heavy criticism from the Canadian government over the move.

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Fact of the Day

47% – the reported increase of PDD's net income.

Source: South China Morning Post