The firms will increase investments in the movie industry, and promote the coupling of the movie business with online literature and animation.
Recently, Tencent Pictures, New Classics Media, and China Literature held (in Chinese) a joint press conference. The three companies made their debut with the overall movie and TV shows production system, becoming the 'troika' of Tencent and China Literature's in-depth deployment in the movie and TV shows industry.
The members will each come up with the most extended board, collaborate with partners, and continue to explore the value space of IPs.
It is reported that Tencent and China Literature will continue to promote the coupling of movies and TV shows with online literature and animation, aiming to create more possibilities for subsequent IP development.
Specifically, Tencent Pictures will play more of a 'hub' role, focusing on the cultural product series and doing more diverse output and exploration. New Classics Media will continue to adhere to its boutique strategy and focus on the production of leading projects. China Literature will collaborate with Tencent's cultural resources to cooperate with platforms, production companies, and creators to systematically promote online literature's adaptation.