Online reading is developing fast into a major industry in China and China Reading of Tencent is heading for a huge IPO in Hong Kong later this year. For authors, e-publishing has major advantages compared to print publishing, says bestseller author Shaun Rein to Knowledge CKGSB.
Social network owners also see readers as a prime investment opportunity. For instance, the owner of China Reading, Tencent media group, recently announced plans to launch a $600-800 million IPO for China Reading in Hong Kong later this year, according to media reports.
Shaun Rein, managing director of the China Market Research Group in Shanghai, is bullish on the prospects of that platform largely because of the advantages that online publication gives writers.
“There are fewer restrictions for online authors than in the print world,” Rein explains. “It’s also more difficult and slower to publish in a physical format because you have to work with publishers… They’re often state-owned, not market-oriented, and slow and lumbering. It can also get very costly to work with a publisher, so many authors prefer to publish their work quickly online where there’s fewer restrictions so they can get their content to their loyal readers faster.”
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