Chinese internet company Netease (Nasdaq: NTES) today announced it is investing an eight-digit RMB sum to acquire original content for its Netease Cloud Reader mobile application, which was previously called Netease Reader. The app currently has over 5 mln users. Netease will pay authors up to RMB 2 per character for original content to be made freely available to Netease Cloud Reader users, and has reached cooperation agreements with dozens of prominent online authors.

Netease Cloud Reader users are evenly split between iOS and Android users, with the majority of users born in the 1980s or later. Netease currently offers more than 20 mobile apps including apps for its Open Classroom and Youdao Dictionary services.

Source:marbridgeconsulting