Online and mobile literature firm China Reading Limited, an affiliate of internet and mobile services firm Tencent (0700.HK), recently announced an ecosystem strategy which will be developed around the company's original works division, publishing division, and operations division, according to CEO Wu Wenhui.
China Reading senior vice president Zhang Rong said that with regard to original works, development emphasis will be placed on popularizing authors, making content more marketable, and making content more international. In addition, the company is investing RMB 200 mln in a newly established content collaboration industry fund to support long-term development in the area of content publishing.
China Reading also announced operations data for 2016 which shows the company paid out approximately RMB 1 bln to authors during the year. Among authors who exceeded RMB 10,000 in single-day sales, 60% were born after 1990.
Currently, China Reading releases 2.3 new works per day that sell over RMB 10,000, and releases 2.1 new works per month that sell over RMB 1 mln. The highest single-day sales volume for a completed work is over RMB 150,000.
China Reading plans to partner with 10 institutions including online science-related forum Guokr.com and online and mobile Q&A community Zhihu.com in order to drive column subscriptions.
Editor's Note: In an interview with Chinese media site 21st Century Business Herald (link in Chinese), Zhang Rong said that the content collaboration industry fund will provide support in four areas: bringing in high-quality publication content, supporting content creators commercially, promoting content brands, and supporting outstanding young authors. For more information on China Reading, please see "Tencent-backed 'China Reading' Launches International Website, Mobile App," MD 5/15/17 issue.