China Literature warns of coronavirus effect on video and film business
Online publisher China Literature has cautioned the new coronavirus outbreak could hobble growth in its online video and film production business, a segment that spurred a more than 20% growth in its profit last year, reports the Nikkei Asian Review.
Executives at the company, which is majority owned by social media and gaming giant Tencent Holdings, said the pandemic has had a nuanced effect on revenue streams. While paid readership of its online content has grown as large sections of the population stayed indoors, the disruption brought by the virus has also affected the shooting schedule for its online dramas and kept cinemas closed.
