Tencent Doubles 2015 Budget for Literature Subsidiary

Sohu IT, 12/09/14

At Chinese internet and mobile services firm Tencent's (0700.HK) 2014 Online Literature Summit in Shenzhen yesterday, Wu Wenhui, head of the company's Tencent Literature subsidiary, revealed that Tencent will double investments in it online literature business next year. Tencent Literature is also developing a new product that will be integrated with the company's WeChat mobile messaging app.

According to Wu, Tencent Literature is constructing an online literature ecosystem connecting all Tencent users, content and platforms. In order to achieve this goal, Tencent will improve its intellectual property management system, and has also announced that it will split revenue with partner authors on the platform at a 50:50 ratio.

Tencent invited more than 130 online authors to the conference and held a closed door meeting with President Martin Lau and COO Mark Ren to answer authors' questions.

Keywords: Martin Lau Mark Ren Wu Wenhui Internet online literature Tencent 0700.HK WeChat mobile IM

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