USEUROPEAFRICAASIA 中文双语Français
Business
Home / Business / Companies

Tencent's new investment plan will boost content creators

By He Wei in Chengdu, Sichuan province | chinadaily.com.cn | Updated: 2017-11-09 22:01

Tencent Holdings announced on Wednesday a 10 billion yuan ($15.1 billion) investment plan to form a content alliance, pledging to groom content creators through cash distribution, project investments, copyright purchases and intellectual property incubations.

The company also promised to share with content curators access to its multiple platforms, from social networking apps such as WeChat and QQ to information distributors such as Tencent news, Chief Operating Officer Ren Yuxin told the audience during the Tencent Global Partner Conference in Chengdu, Sichuan province.

"These efforts would allow people's original works to enjoy greater exposure and hence receive more good financial return," Ren said.

Content creators are greatly devalued as their income only accounts for roughly 10 percent of the sector's market value, while in the movie, gaming and music industry that number stood at 50 percent, said Lin Songtao, the company's vice-president.

In an open letter to its partners ahead of the meeting, Tencent chairman Pony Ma said digital content will be a "core value" that the company upholds in the future.

The announcement came as shares in Tencent's e-book subsidiary China Literature leaped 86 percent on its trading debut in Hong Kong Wednesday. The digital publishing arm is the country's dominant market leader in both the number of readers and writers, according to consultancy Frost & Sullivan.

Most Viewed in 24 Hours
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US