Cheng Wu announced the strategic upgrade of the "Great Reading": taking online literature as the cornerstone to jointly build an IP ecological chain

On June 3, as the opening of the "New Cultural and Creative Week", the 2021 Annual Press Conference was held in Shanghai Center. Cheng Wu, CEO of Yuwen Group, Vice President of Tencent Group and CEO of Tencent Pictures, announced the strategic upgrade of "Big Reading", making it clear that Reading will build an IP ecological business matrix with partners in the whole industry based on Tencent's new cultural and creative ecology, with online literature as the cornerstone and IP development as the driving force.

At the meeting, Cheng Wu delivered a keynote speech entitled "Concentrate on Doing Good Things, Let Good Stories Live Forever", in-depth elaborating on his summary of the exploration of the reading business in the past year and his thinking on the development of the current content industry. Cheng Wu said that there are already more than 9 million writers in Reading, how to create a more secure environment to help them better realize their self-worth is the responsibility that Reading needs to face; and in the current rich form of entertainment, how to keep online literature attractive and tell Chinese stories well on the world stage is a challenge for Reading and a driving force for upgrading and reconstruction.

Under the impetus of the new management, in the past year, Yuwen has launched upgrading and reengineering in terms of writer ecology, platform connection, and IP creation. After a year of exploration, Yuwen has added more than 900,000 writers, in addition, with Tencent Pictures, Xinli Media, Yuwen Film and Television to build a "troika" of the film and television joint production system, its second work "Son-in-law" relay "Qing Yu Nian", becoming the fastest popularity of the broadcast platform to break through 10,000 episodes.

At the same time, Cheng Wu frankly said: "The core of the cultural industry is innovation, but the biggest challenge of innovation is to constantly try and make mistakes, and to bear the risk of failure." The mature IP industry has accurately developed IP by integrating superior resources, effectively improving the success rate and expanding the industrial capacity, but the current industrialization capacity of China's IP industry is still in its infancy, and it is urgent to build its own characteristic "IP ecological chain" to improve quality and efficiency.

In view of the current IP industry, industrial maturity, IP operation capabilities, IP talent reserves and many problems, the future "big reading" will focus on three aspects: first, activate creators, excavate, cultivate and help more creators in the IP industry, including writers, cartoonists, directors, screenwriters, etc.; second, strengthen IP operation capabilities, through strengthening the construction of middle office, joint decision-making, committees, etc., resolutely implement IP "first planning, redevelopment"; third, build visual capabilities, Through strengthening its own and external cooperation, we will amplify the influence of IP with animation, film and television as a breakthrough, and propose the layout of IP commercialization and offline consumption formats to explore the "new blue ocean".

Cheng Wu said that under the new strategy, the online literature business will focus on consolidating the content chassis, aiming to cultivate good works that meet the needs of a wider range of users and bring writers a longer-term income; the "big reading" strategy promotes the IP ecological chain into the practical link, organically combines talents, resources, and different content formats, and does a good job in the top-level design and landing development of IP.

With the launch of the new strategy, Yuwen also announced a new vision: "to create the most valuable IP ecological chain for creators, to become the world's top cultural industry group", and a new mission "let good stories live forever", from the level of creation and development, so that good stories continue to be born and continue.

(Editing by Zhuang Yi)