Youku venture could usher in a new era in moviemaking

Popular online fiction is fast finding its way onto the big screen thanks to growing interest from China's online giants who are keen to become more involved in the film industry.

China's leading video streaming site Youku announced on Monday, at the Beijing International Film Festival, that it will adapt three popular online novels into feature films in collaboration with Mopian.

Mopian is a startup that specializes in developing online literature into multiple media forms. It currently owns copyrights of more than 10 online novels. Their first joint production will be based on three popular online fantasy novels: Infinite Horror, The Romance of Dragon and Snake and The Sun God. Each e-book has been viewed more than 50 million times, according to Youku.