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

Business & Technology

A summary of the top news in Chinese business and technology for November 3, 2017. Part of the daily SupChina newsletter, a convenient package of China’s business, political, and cultural news delivered to your inbox for free. Subscribe here.

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.