HONGKONG, CHINA, March 12, 2023 — On March 10, WebNovel, one of the world’s largest online literature platforms, announced the launch of IP development for outstanding works. The platform also held the 2022 WebNovel Spirity Awards ceremony in Hong Kong, where 31 web writers from 9 countries shared a reward of about $100,000, and about 40% of the writers received awards for the first time. Notably, some award-winning works will also have the opportunity to be adapted for films or television drama series in collaboration with the partner WeTV.
WebNovel is a global online literature platform that supports writers around the world to create their own stories, which will be published and updated in a serialized form. By the end of 2022, WebNovel had approximately 340,000 writers and released about 500,000 web novels. They attracted a total of 170 million visitors from over 200 countries and regions worldwide.
IP development is the core initiative of WebNovel’s latest “Webnovel 2023 Author Professionalization Initiative”, which aims to adapt more outstanding works into different forms, such as audio drama podcasts, comics, animations, films, and television series. At the same time, the promotion and publicity of these IPs will be boosted to help writers maximize the value of their content. The plan states that WebNovel will work with partners from multiple countries.
Prior to launching this program, WebNovel had already cooperated with excellent teams from the United States, India, the United Kingdom， South Korea, Thailand, and other regions, achieving stellar results in adaptation. Among them, the winning work of the 2020 WSA, “The Crown’s Obsession”, has been adapted into an audio drama podcast while the winning work of the 2021 WSA, “SPELLBOUND”, has been translated into Korean and released locally. In addition, many excellent works, such as “The Dragon King’s Heart”, have been adapted into comics and published on the Tencent Animation platform.
WebNovel, the overseas portal of China Literature, was launched in May 2017. Since 2019, WebNovel has launched the WebNovel Spirity Awards, with a prize pool of over $1 million. The recently concluded 2022 WSA received over 90,000 entries, with the most entries coming from the United States, India, and Indonesia. Increasing evidence shows that the pay-to-read model created by WebNovel is changing the lives of global creators by enabling them to earn revenue through their works.
Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No Funds Spectrum journalist was involved in the writing and production of this article.