Fengdu Novel Profitability Enhanced with Successful IP Incubation of Novel to Short Films
SHANGHAI, March 18, 2022 /PRNewswire/ -- Recently, a batch of high-quality literature work from Fengdu Novel, online literature app developed by CooTek (Cayman) Inc. (NYSE: CTK) ("CooTek" or the "Company"), have been selected by the ninth round of the Tencent Video's Mars Project and will be ready for producing into short films by production companies. As Fengdu Novel continues to focus on building up its content ecology through IP business, the successful collaboration marks another milestone in its IP incubation of short films. The five pieces of literature works are great examples for short films incubation, featuring the fast-paced, imaginary and non-traditional novel styles. The successful cooperation with the platform and production companies also proves the appeals of IP in the market.
The successful shooting projects of the online novel works testify Fengdu's strong capabilities in IP incubation and commercialization, based on its rich experience in IP sourcing and licensing. In the past year, Fengdu Novel launched several collaboration projects on IP licensing into audio books, videos, and animations. In terms of content globalization, Fengdu Novel has also licensed a number of works to overseas platforms and enlarged the exposures for these works. In addition, Fengdu Novel was able to commercialize its content through other social media channels. With content commercialization as the prime focus of Fengdu Novel, it is expected to increase revenue streams and enhnce the profitability for the Company, further enhancing its content ecology.
The remarkable IP incubation is also based on the improving in-app content environment, which plays an important role in attracting users. Fengdu Novel is continuously optimizing the in-app environment through writer recruitment, training, literature competitions, novel works diversification and other initiatives. In the second half of 2021, Fengdu Novel launched an online community to enhance user experience. The functions of the community include message sending, book review, forum, recommendation and author reward. Through the continuous improvement of community operations and organic content creation, the reading time of Fengdu Novel's users has been improving since 2021. The success of such initiative is shown in the increased content creation passion by writers, IP incubation, and the diversified business model for in-app commercialization.
Based on the fruitful results on content commercialization, Fengdu Novel has turned profitable in the third quarter of 2021, announced by CooTek in its latest financial results on March 15.
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.
ICA Investor Relations (Asia) Limited
SOURCE CooTek (Cayman) Inc.