China’s online marketplace JD will invest RMB 1 billion ($138 million) in cash in an attempt to incentivize short video creators and content agencies as the e-commerce player eyes the content form as a way to retain consumers’ attention on its shopping platform. Announcing the move, the company said it is in the process of “incubating top-tier influencers,” with plans to cultivate 100 star influencers by year-end. While rivals Taobao, Douyin, and Kuaishou have successfully cultivated highly-popular livestreamers, JD is a latecomer to the booming field. JD said qualifying influencers covering certain categories, including electronics, home appliances, fashion, and health, will be able to receive weekly bonuses of up to RMB 30,000. [JD announcement]
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