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ChineseAll.com expands into digital entertainment
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CHINESEALL.COM, the flagship firm listed in the Chinese Nasdaq-like Growth Enterprise Market with its business focusing on online literature, plans to expand business to digital entertainment, the firm said yesterday in Shanghai.
The investments include film, video, game and digital education including a 250 million yuan (US$36.2 million) investment of video website AcFun. The firm expected the investment and business expansion bring them new users especially people born after 1990.
“Demands for reading and entertaining never recede among consumers, despite of the slowdown of the economy,” said Dai Hezhong, executive president of Shenzhen-listed ChineseAll.“Best films and games come from best stories—That’s our advantage and opportunity.”
At present, the website has more than 40 million users reading their novels.
The culture industry revenue in China reached 450 billion yuan in 2015 with about 20 percent annual growth. The culture industry will continue rapidly growing in next five years, analysts said.
The investment will help the online literature website to turn “best stories” to various digital entertainment products and bring them income, said Dai.
Top Internet giants like Tencent and Youku Tudou have already invested heavily on the integration among online literature, film and games.
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