Shanda Literature, which controls over 90% of China’s online-reading market, rakes in an estimated revenue of 100 million yuan ($15 million) per year. Running three popular online-novel websites, Shanda boasts a total readership of 25 million and is growing at 10 million per year, according the company. “The Chinese people need a platform to express their creativity,” said Hou Xiaoqiang, founding CEO of Shanda Literature. “I think our online-literature sites can partly cater to that need.”
(via Tomorrow Museum