SHANGHAI, Jan. 6, 2021 /PRNewswire/ -- CooTek (Cayman) Inc. (NYSE: CTK) ("CooTek" or the "Company"), a fast-growing global mobile internet company, today announced its recent participation at Online Literature Summit 2020. Linchen Li, deputy editor-in-chief of Fengdu Novel, one of the core products of CooTek, presented as a keynote speaker.
The Online Literature Summit 2020 jointly organized by China Internet Writers Village and Chenggua.com was recently held in Hangzhou. The summit focused on the theme of "The Development of Online Literature in the Post-Pandemic Era". It drew the participation of leading enterprises and outstanding writers across the online literature world in China.
The meeting served as a platform for stakeholders in the online literature industry to share their experiences after the outbreak of the epidemic, as well as their unique views on the development of the industry. The new dark horse, Fengdu Novel, was invited to participate and shared on the theme of "Jointly Build a Content Ecosystem Centered on Authors," which triggered heated discussions.
AI empowers the writers to surmount the bottleneck and explore new creation methods
Fengdu Novel is a reading platform for original and free online literature launched by CooTek in 2019. The platform aims to change the reading experience of online readers through a commitment to original content. It makes accurate matches for online readers and novel content through its self-developed AI recommendation engine based on long-form content.
"Fengdu Novel has always considered building up a content system with communication value as its benchmark, serving the authors with 'algorithm + portrait' technology," said Linchen Li, deputy editor-in-chief of Fengdu Novel, at the event. "In the past, the demand of online literature readers and its distribution were relatively vague. But now, with the help of big data and AI technology, the focus of operation has been shifted from the top-down management to prioritizing our users' demand. Guided by such 'internet mindset,' authors are able to produce even more attractive content."
Also, Fengdu Novel has discovered from user insight survey that user demands vary across different age groups due to the unique characteristics and inner needs. For example, as the post-00s generation (Gen Z) gradually becomes the mainstream reading group, their sub-culture is booming. Fengdu Novel is paying close attention to this group and continuously collecting and producing various original content for them.
As a content ecosystem that embodies diversified development, Fengdu Novel is committed to providing different age groups and preference groups with personalized works and smart recommendations, with the goal that each reader can quickly locate the content they like and get captivated by exciting reading materials.
Form a new industry trend to support "mid-tier" writers
Original content on Fengdu Novel also witnessed a number of achievements in 2020. According to a previously released report by QuestMobile, a professional business intelligence services provider in China's mobile internet market, Fengdu Novel has been ranking consistently one of the Top 3 platforms in the free online reading field with more than 20 million monthly active users (MAUs) since the second quarter of 2020, and the reading time by Fengdu Novel users is even more impressive compared to the monthly active users. As of September 2020, the average daily reading time of Fengdu Novel users reached 130 minutes.
"In 2020, Fengdu Novel has come up with a lot of new topics and given birth to many authors with millions of followers in the field of original Chinese literature. In the next year, the platform plans to release more benefits to support new authors and quality content writers, giving more opportunities to the mid-tier authors," said Linchen Li. "At the same time, we are constantly exploring traditional Chinese themes. China's 5,000 years of traditional culture is a huge treasure trove, the myths and historical stories of which possess countless classics and wisdom worthy of our inheritance and promotion."
Realistic themes have become the new hot genre of the times, consistent with the content direction Fengdu Novel tends to take. For example, exploring social lifestyles under the global pandemic disaster shows high cultural value under current circumstance. By continuously exploring new topics through breaking the boundaries of traditional Chinese culture and modern social issues, Fengdu Novel hopes to build up an original content library and user ecosystem with its own unique characteristics in three to five years.
Leverage original IP to create a multi-form pan-entertainment content ecosystem
For the future development of Fengdu Novel, Linchen Li pointed out that the next step is to convert the content into intellectual property, including audio, film and television, comics and animations. Media diversification of CooTek's content will serve its global strategy and form a pan-entertainment content ecosystem with online novels as the core. Other pan-entertainment businesses, such as games, will be developed simultaneously. It is hoped that by leveraging original content, CooTek can cover its 264 million users worldwide.
In the future, with CooTek's AI technology and original content ecology, it is expected that Fengdu Novel will continue to provide more comprehensive and in-depth services to the upstream and downstream of the industry and continuously inject new momentum into the significant development of Chinese online literature sector.
About CooTek (Cayman) Inc.
CooTek is a fast-growing mobile internet company with a global vision, offering mobile applications. Our mission is to empower everyone to enjoy relevant content seamlessly. The Company'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. CooTek has developed and brought to market content-rich mobile applications, focusing on three categories: online literature, scenario-based content apps and casual games. For details, please visit: https://ir.cootek.com/.
For investor enquiries, please contact:
CooTek (Cayman) Inc.
Mr. Robert Yi Cui
Email: IR@cootek.com
ICA (Institutional Capital Advisory)
Mr. Kevin Yang
Phone: +86-021-8028-6033
E-mail: cootek@icaasia.com
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