China's web novels, micro dramas, video games integrated into IP value chain

HANGZHOU, July 28 (Xinhua) -- China's web novels, micro dramas and video games -- collectively dubbed the "new trio" of China's cultural exports -- are now a fully integrated IP development ecosystem, according to scholars and industry insiders at a public dialogue during the just-concluded 34th National Book Expo.

"In the past, web literature, online dramas, and video games each pursued their own separate paths," said Zeng Fanwen, the executive director of the research institute of cultural industries at Renmin University of China, at the expo held in Hangzhou, capital city of east China's Zhejiang Province, from last Friday to Monday.

Now, the three sectors are forging a powerful synergy: while web novels serve as the content source, micro-dramas test the waters by providing rapid market validation, and video games create deep, long-term value, Zeng added.

"The 'new cultural trio' is not three separate industries, but a fully integrated IP development ecosystem," Shen Shicheng, deputy head of the publicity department of the Zhejiang provincial committee of the Communist Party of China, echoed Zeng's view.

Chinese web novels have reached nearly 400 million users in over 200 countries and regions, generating 5.64 billion yuan (about 830 million U.S. dollars) in overseas revenue, according to Wang Zhongjie, general manager of overseas business at Yuewen Group, a Chinese cultural company.

Some of the web novels have cultivated massive global fanbases, serving as a rich wellspring of content for micro-drama and video game adaptations.

As Chinese video games make inroads into overseas markets, the cultural stories woven into them are finding an increasingly receptive audience abroad.

"Genshin Impact" has generated over 4 billion U.S. dollars in revenue, while introducing a rich array of Chinese intangible cultural heritages to a global audience. Meanwhile, "Black Myth: Wukong," inspired by the classic Chinese tale "Journey to the West," has won numerous international awards. ■