SHANGHAI, Jan. 20, 2021 /PRNewswire/ -- CooTek (Cayman) Inc. (NYSE: CTK) ("CooTek" or the "Company"), a fast-growing global mobile internet company, continues responding to the growing market demand for short videos by exploring, building, and gathering more exciting content. CooTek thus taps into short video series based on Fengdu Novel's content and IP to create a new format of entertainment as well as user engagement.
With the development of the Internet and 5G technology, online entertainment has gradually become the most promising sector, and short video is becoming a new area of rapid growth. CooTek has committed to creating short video series based on online literature IPs. Based on the library of online literature content resources available on Fengdu Novel, one of the core mobile app products developed and operated by CooTek, the Company engages in the adaptation and production of short video series and continuously enriches the form of online literature and other related online content.
Quality content is the core component for successful short video series.
It is no doubt that high content quality and creative original content are the winning formulae. Choosing a powerful story for a short video series is essential to make a blockbuster.
Fengdu Novel, a free online reading app, provides a constant stream of original content that can be tapped to create captivating short video series. Thanks to the quality content and its innovative format, Fengdu Novel's short video dramas went viral shortly after its debut. The first short video drama series with Chinese name "Proud Wanwan Su" produced from content on Fengdu Novel is based on a piece of literature with a substantial and exciting storyline. The video series is divided into 20 episodes with a running time of two to three minutes for each.
The short drama has been redistributed on major short video sites such as Douyin, the Chinese version of TikTok, Kuaishou, Bilibili and Xigua Video, among others, and can be watched by searching FengDu Theater.
Using original content to create a new content IP powerhouse.
In the past, transforming online literature IPs into video content required a vast amount of capital investment, a complicated production process and a long production cycle. Creating short video series that combine online novels and short videos has dramatically shortened the development process of such transformation.
By analyzing users' reading data, Fengdu Novel selects high-quality popular original IPs on the platform for adaptation. Then, it quickly launches the stories onto the market in the form of self-produced short video series. This system shortens the incubation cycle significantly. And it can assess IPs' market value and the attractiveness of their content to fans more quickly while reducing costs and increasing efficiency.
The high-quality short video dramas serve a twofold purpose. They are not just simply attracting users to watch these videos. More importantly, they help stimulate users' interest in the original online literature that inspired the video series they are watching. As a result, the short video series drive a tremendous amount of user traffic to Fengdu Novel. This system transforms many users from 'passive' to 'active' and realizes the creation of an 'IP ecology' business model.
For CooTek, original online literature is the cornerstone of its IPs. The company will continue to create new content forms to enhance user demand and respond to the ever-changing market. The Company will continue to incubate and support the development of exciting new IPs to ensure a steady stream of quality content – ranging from literature to film, television and animation.
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
ICA (Institutional Capital Advisory)
Mr. Kevin Yang
SOURCE CooTek (Cayman) Inc.