SHANGHAI, Aug. 26, 2021 /PRNewswire/ -- Fengdu Novel, an online literature mobile app developed by CooTek (Cayman) Inc. (NYSE: CTK) ("CooTek" or the "Company"), has explored various opportunities for building content ecology and commercial monetization, and has achieved a breakthrough in leveraging social media channels. The social media channels provide a novel way to reach target readers and demonstrate Fengdu Novel's success in developing a new business model and amplifying revenue growth.
It has become popular to distribute online literature through social media channels, and it is different than distributing through literature apps. The algorism for user recommendations is more precise in the social media ecology. The immersive experience of reading standalone books drives better commercialization, as users are more likely to pay for something they are already interested in.
The social media channels mainly target novel readers who are accustomed to WeChat and do not use traditional reading apps. This is a difficult segment of readers to reach through regular novel apps.
In the WeChat ecosystem, Fengdu Novel distributes content in genres such as city life, fantasy, and romance. With WeChat's matrix of public accounts, Fengdu Novel has attained good user feedback on WeChat in terms of addressing users' reading needs for short-term reading consumption. Thus, Fengdu Novel can recognize a better monetization on social media channels.
On the social media platform, Fengdu Novel's users are mostly from third-tier cities and above, often with established spending patterns for online literature. These are complementary to the existing Fengdu Novel users for free content.
The most popular works of Fengdu Novel, including Survival on a Desert Island with a Beautiful Woman, and Three Treasures from Heaven - Daddy and His Pampered Wife, have achieved good commercial performance through external sites under the WeChat ecology. Fengdu Novel has built its own social media channel with closed data loop and self-operated advertising, so it can select the content and decide the monetization model. As a result, the platform gains a deeper understanding of reader feedback, which further enhances the traction of in-app content.
Fengdu Novel has explored diverse models of content monetization that allow free content and paid content to exist simultaneously. Content on the Fengdu Novel app can be redistributed to reach paying users for online literature through social media channels, a process that has not been done in the past. In this way, Fengdu Novel expands the reach of target audience and increases the likelihood that consumers will pay. It will also lead to a more balanced approach to business monetization.
About CooTek (Cayman) Inc.
CooTek is a mobile internet company with a global vision that offers content-rich mobile applications, focusing on three categories: online literature, scenario-based content apps and mobile games. CooTek's mission is to empower everyone to enjoy relevant content seamlessly. CooTek's user-centric and data-driven approach has enabled it to release appealing products to capture mobile internet users' ever-evolving content needs and helps it rapidly attract targeted users.
For more information on CooTek, please visit https://ir.cootek.com.
For investor enquiries, please contact:
CooTek (Cayman) Inc.
Mr. Robert Yi Cui
Email: ir@cootek.com
ICA Investor Relations (Asia) Limited
Mr. Kevin Yang
Phone: +86-21-8028-6033
E-mail: cootek@icaasia.com
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