Fengdu Novel's IP Content Selected for Micro Drama Production by Tencent Video
CooTek (Cayman) Inc. (NYSE: CTK) announced a collaboration between its online literature platform, Fengdu Novel, and Tencent Video's Mars Project. This partnership aims to adapt selected high-quality romance novels into micro dramas. The initiative reflects the growing demand for mini-series scripts and enhances Fengdu Novel's content ecology. The company has introduced new mechanisms for IP commercialization and secured partnerships throughout the content chain, leading to significant growth in its IP content business in the third quarter. A recent campaign targeting male and female protagonists has also increased user engagement.
- Collaboration with Tencent Video enhances IP content commercialization.
- High-quality romance novels selected for adaptation show strong market potential.
- Significant growth in IP content business observed in Q3.
- New features for reader engagement have increased user stickiness.
- None.
SHANGHAI, Dec. 20, 2021 /PRNewswire/ -- As Fengdu Novel, online literature app developed by CooTek (Cayman) Inc. (NYSE: CTK) ("CooTek" or the "Company"), continues to make progress in building its content ecology, it has reached a collaboration with Tencent Video's Mars Project, which aims to support micro drama TV adaptation. A batch of high-quality online literature work from Fengdu Novel have entered in the bidding stage and will be ready for shooting upon the completion of bidding and coordination with the producers.
The projects adopted by the ninth round of the Tencent Video's Mars Project are mostly romance novels with female protagonists and anti-cliché storylines, such as "The Powerful Princess", "How to Peacefully Divorce the Crown Prince after Accidentally Becoming a Princess", "The Royal Coroner", "My Lady's Gone Again, Your Highness!", "My Arrogant Boss", "Back to 1990", etc. According to the co-partners, the original plots and charming characters of these works have a great commercialization potential, thus perfect for screen adaptation.
By working with Tencent, Fengdu Novel has shown that its novel business is gaining the long-tail effect. In the TV drama industry, there is increasing demand for miniseries scripts, which can be met by the novels produced on the Fengdu Novel platform. Through its content operation and incubation, Fengdu Novel has selected a few works with both high-quality content and high commercial potential.
In terms of IP content commercialization, Fengdu Novel has been continuously exploring various channels and opportunities. This year, the Company initiated a dynamic novel-to-drama launching mechanism while seeking external cooperation to maximize the influence and profitability of IP works. The customized launching campaigns using social media and other channels have also achieved substantial results. When it comes to IP incubation, Fengdu Novel has secured corporate partners throughout the content chain; from content creation to adaptation, the vertical incubation chain has become increasingly mature, providing more feedbacks and support. In the third quarter, Fengdu Novel achieved a rapid growth of IP content business as it did in the previous quarter, thus releasing the long-tail value of the content ecology.
At the same time, Fengdu is further enhancing its content potential by seeking new commercialization mechanisms. As the "Call for novels" campaign in the male-protagonist category received millions of views, the event has also been carried out in the female-protagonist category this quarter, with a continuous focus on finding potential bestseller authors and anti-cliché stories. Based on perspicacious understanding of readers tastes, the Fengdu Novel editorial team is working with authors to create new literary genres and premium content, which has been Fengdu's long-term goal. Since the second half of this year, Fengdu has added a new feature that allows readers to leave comments, which has further driven up the user participation rate. This not only allows authors to obtain more feedback from the readers, but also increases the bond between the two sides by fostering fan clubs and enhancing user stickiness. These resources will no doubt become a strong advantage to Fengdu Novel in the subsequent IP incubation.
About CooTek (Cayman) Inc.
CooTek is a mobile internet company with a global vision that offers content-rich mobile applications, focusing on three categories: online literature, scenario-based content apps and mobile games. CooTek's mission is to empower everyone to enjoy relevant content seamlessly. CooTek's user-centric and data-driven approach has enabled it to release appealing products to capture mobile internet users' ever-evolving content needs and helps it rapidly attract targeted users.
For more information on CooTek, please visit https://ir.CooTek.com.
For investor enquiries, please contact:
CooTek (Cayman) Inc.
Mr. Robert Yi Cui
Email: ir@CooTek.com
ICA Investor Relations (Asia) Limited
Mr. Kevin Yang
Phone: +86-21-8028-6033
E-mail: CooTek@icaasia.com
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SOURCE CooTek (Cayman) Inc.
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