Tencent and the new business of literature IP – China’s latest business and technology news

Internet giant Tencent this week launched a successful initial public offering (IPO) in Hong Kong for its online literature unit, China Literature Ltd., raising $1.1 billion — the top of its indicative range, Reuters reports.

  • Bloomberg says Tencent strategy is “plowing money into music, e-books and video streaming — the content it needs to keep users hooked on its WeChat social media and messaging service,” and “grow into an advertising behemoth akin to Alibaba, Google and Facebook.”
  • TechNode reports that “Tencent is planning another listing for its music spin-off in the near future,” another push into “a whole new industry chain surrounding online literature” intellectual property (IP) that “involves music, games, TV dramas, and movie production.”  
  • One example of this trend is the online fantasy novel Eternal Love (三生三世十里桃花 sānshēng sānshì shílǐ táohuā) by Tangqi Gongzi 唐七公子, which was successfully adapted for TV and mobile game.

Jeremy Goldkorn

Jeremy Goldkorn is co-founder of the Sinica Podcast and currently edits SupChina and its daily newsletter.