Despite studies projecting that millennials may prefer reading paper books over e books, China Literature, a pioneer online literature company, is tying up with Singtel to bring literature to readers online.
China Literature, a unit of Tencent Holdings and China’s largest e-book and online publishing website, boasts 9.6 million e-books from 6.4 million authors and they plan to grow bigger with the merger.
“We are the biggest owner of intellectual property (IP) in China, but that’s not the end of the story,” said vice-president Luo Li of China Literature. China Literature earns its income by charging readers for their services. Last year it generated an annual profit of 30.36 million yuan. However, Mr Luo Li stated that online readers would be charged lesser once the income from the IP business rose.