Yuewen CEO Discusses Global IP Trends Amid China's Television Industry's International Growth

At the Asia TV Forum (ATF) held in Singapore, Hou Xiaonan, the CEO of Yuewen and Vice President of Tencent's Platform and Content Group, spotlighted the impressive surge of Chinese film and television dramas in international markets. The conversation took place against a backdrop of growing interest in Chinese content, specifically in Southeast Asia, where recent statistics from AMPD have shown that viewership of Chinese entertainment content on Video On Demand (VOD) platforms has overtaken that of American shows. This positions Chinese dramas as the second-largest category among local audiences in the region.

According to the recent reports, Chinese content has seen remarkable growth on various freemium platforms, accounting for about 40% of total viewership, surpassing even South Korean dramas. This rise highlights the shifting preferences of audiences in Southeast Asia and the expanding appeal of China's cultural narratives beyond its borders.

During the discussion at ATF, Hou Xiaonan engaged in a thought-provoking dialogue with Orina Zhao, Research Manager at Ampere Analysis. Their subject, "The Changing Landscape of China's Media and Entertainment Industry," delved deep into how Yuewen stands as a significant player transforming this landscape with innovative approaches and effective strategies.

A Digital-First Model: Redefining Content Production

In stark contrast to the traditional film and television production models prevalent in Hollywood, Yuewen operates primarily within a digital-first framework. This strategy encompasses a broad ecosystem that includes online literature, comics, films, animation, audiobooks, games, and merchandising. The interconnectedness of these elements forms a robust digital entertainment industry.

"Our online literature and comics serve as the cornerstone of our intellectual properties (IPs)," Hou explained, detailing how these narratives fuel the creation of films and series. Furthermore, the synergy created between games and merchandise plays a crucial role in enhancing the overall value of their IPs. This comprehensive approach positions Yuewen as both a prolific content creator and a full-chain IP value generator.

Emphasizing Yuewen's immense influence, Hou noted that the company boasts a community of over 10 million online writers, contributing more than 16 million literary works. Through continuous feedback and interaction with users, the company identifies and fosters high-quality content crucial for successful adaptations. In 2024, it was noted that four of the top five most-viewed online drama series in China were either produced by Yuewen or adapted from its properties.

While domestically the implications are noticeable, Yuewen’s reach is extending internationally. This year, several of its productions have gained significant traction abroad. Notably, the film YOLO, developed by Yuewen's subsidiary New Classics Media and distributed globally by Sony Pictures, emerged as the highest-grossing Chinese film in overseas markets.

Likewise, on platforms like TikTok, two of the three most popular Chinese dramas were from Yuewen. Then, there’s Joy of Life Season 2, which not only became the most-watched Chinese series on Disney+ but also ranked as the highest-rated Chinese show on MyDramaList for 2024. The momentum in South Korea is particularly noteworthy, where Yuewen's adaptations have markedly dominated the series playback charts.

Future Aspirations: Building a Global Ecosystem

Beyond being just a content creator, Hou envisions Yuewen as a pivotal architect in crafting a sustainable and open global IP ecosystem. Currently, Yuewen manages over 23 acquired or incubated media and entertainment firms, establishing itself as a formidable player in the IP arena, akin to Disney’s comprehensive model.

With ambitions set on globalization, Hou outlined two primary focuses: fostering overseas original IP initiatives to assist international writers in developing their intellectual properties and expanding the presence of Chinese IPs in global markets through diverse media formats. As a part of this initiative, Yuewen is set to fast-track the growth of original content developed in collaboration with international partners in regions such as Southeast Asia, Europe, and the USA. With plans to double the adaptations of Yuewen's overseas original works, the company is well positioned for substantial growth.

Moreover, in recognizing the potential for IP-driven tourism, Yuewen is collaborating with tourism boards including the Singapore Tourism Board to synergize 'IP with cultural tourism'. For instance, the anticipated Yuewen Music Festival and Global IP Awards are set to take place in Singapore, reinforcing the company’s commitment to becoming a globally recognized entity in the IP space.

Conclusion: The Expansive Potential Ahead

The future looks promising for Yuewen as Hou Xiaonan stresses the limitless potential of high-quality IP to not only create significant value but also open new routes for integrated development. With a diversified array of themed products and plans to expand its physical retail presence internationally, Yuewen is gearing up for an exciting journey ahead, cementing its role at the forefront of the global media and entertainment industry.

For additional insights, visit Yuewen's official website.