USEUROPEAFRICAASIA中文双语FrançaisHOMECHINAWORLDBUSINESSLIFESTYLECULTURETRAVELWATCHTHISSPORTSOPINIONREGIONALFORUMNEWSPAPERChina Daily PDFChina Daily E-paperMOBILEChinaNewsSocietyInnovationHK/Taiwan/MacaoCover StoryPhotosEnvironmentHealthMilitaryHome / China / SocietyTencents new investment plan will boost content creators
By He Wei in Chengdu, Sichuan province | chinadaily.com.cn | Updated:2017-11-09 22:01Tencent Holdings announced on Wednesday a 10 billion yuan ($15.1 billion) investment plan to form a content alliance, pledging to groom content creators through cash distribution, project investments, copyright purchases and intellectual property incubations.The company also promised to share with content curators access to its multiple platforms, from social networking apps such as WeChat and QQ to information distributors such as Tencent news, Chief Operating Officer Ren Yuxin told the audience during the Tencent Global Partner Conference in Chengdu, Sichuan province.”These efforts would allow peoples original works to enjoy greater exposure and hence receive more good financial return,” Ren said.Content creators are greatly devalued as their income only accounts for roughly 10 percent of the sectors market value, while in the movie, gaming and music industry that number stood at 50 percent, said Lin Songtao, the companys vice-president.In an open letter to its partners ahead of the meeting, Tencent chairman Pony Ma said digital content will be a “core value” that the company upholds in the future.The announcement came as shares in Tencents e-book subsidiary China Literature leaped 86 percent on its trading debut in Hong Kong Wednesday. The digital publishing arm is the countrys dominant market leader in both the number of readers and writers, according to consultancy Frost & Sullivan.Related StoriesTencent partners with UNESCO to preserve endangered languagesTencent announces partnership with Springer NatureTencent unit gains from HK frenzyTencent takes shows to digital content trade fairPhotoFun with golden gingko leaves across ChinaMan who loves writing English words with brush penC919 jetliner undergoes final testing in ShanghaiThree continuous beams of Wuhan-Shiyan high-speed rail connected60-year-old villager paints potatoes for a livingCelebration of a good harvestDecoding Xis reportXis report: Unlocking the wordsLatestChinas NetEase to facilitate intl e-commerce worth $11 billionTencent partners with UNESCO to preserve endangered languages13-tonne hotpot served at Chongqing hotpot festivalHong Kong medicine scholars develop innovative targeted delivery system for treating bone tumorMan loses court case against medical centerState Council NewsPremier: Keep momentum for better growthPremier discusses bilateral ties with Merkel in phone callExclusiveSino-US economic ties in numbersXi-Trump talks: Xi on Sino-US tiesBigger picture, deeper analysis: Click on any key wordEditors picksFirst high-speed train operating in mountains offers 4G coverageChina-built ultra-deep-water drilling rig to set sailTen photos you dont wanna missTen photos from across China: Oct 27-Nov 2Special19th CPC National CongressCPC encyclopediaBACK TO THE TOPHOMECHINAWORLDBUSINESSLIFESTYLECULTURETRAVELWATCHTHISSPORTSOPINIONREGIONALFORUMNEWSPAPERChina Daily PDFChina Daily E-paperMOBILECopyright 1995 -var oTime = new Date();
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