{"id":2960,"date":"2020-07-01T18:27:59","date_gmt":"2020-07-01T11:27:59","guid":{"rendered":"http:\/\/www.thestorythailand.com\/?p=2960"},"modified":"2020-07-15T23:36:07","modified_gmt":"2020-07-15T16:36:07","slug":"from-e-book-business-to-thailands-largest-digital-content-ecosystem","status":"publish","type":"post","link":"https:\/\/www.thestorythailand.com\/en\/from-e-book-business-to-thailands-largest-digital-content-ecosystem\/","title":{"rendered":"From e-book business to Thailand\u2019s largest digital-content ecosystem"},"content":{"rendered":"\n<p><strong><em>Ookbee pushes back the boundaries of online entertainment<\/em><\/strong><\/p>\n\n\n\n<p>Ookbee came into existence as a start-up in 2012, initially selling e-books and online magazines, before diversifying. It now focuses on attracting large numbers of monthly users to its platforms, and at present there are about 10 million monthly active users on all of its platforms \u2013 as many as there are Twitter users in Thailand.<\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p>Ookbee has about 3 billion pageviews per month, and most of its customers are people from Gen Y and Gen Z \u2013 between the ages of five and 40 years \u2013 who enjoy reading cartoons and fiction.<\/p><\/blockquote>\n\n\n\n<p><strong>Ookbee Co Ltd\u2019s Chief Executive and co-founder Natavudh \u201cMoo\u201d Pungcharoenpong<\/strong> told <em>The Story Thailand<\/em> that his company had shifted its business from publishing content provided by printing houses to allowing readers to produce content for Ookbee\u2019s platforms.<\/p>\n\n\n\n<p>The content can be bought chapter by chapter, whereas in the past it was bought only as whole books. There is also a donation system and live streaming.<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><a rel=\"noreferrer noopener\" href=\"https:\/\/www.thestorythailand.com\/en\/15\/07\/2020\/3452\/\" target=\"_blank\">Giant\u2019s-eye view of a business world in turmoil<\/a><\/li><li><a rel=\"noreferrer noopener\" href=\"https:\/\/www.thestorythailand.com\/en\/03\/07\/2020\/3052\/\" target=\"_blank\">SCB steps into online food delivery with Robinhood<\/a><\/li><\/ul>\n\n\n\n<p><em>Ookbee has many business operations, such as the Fungjai application, which focuses on indie (independent) music and holding concerts; platforms dedicated to fiction, namely Tunwalai, Joylada and Fiction Log; 10 Facebook pages dedicated to entertainment, including C Channel, which has more than 12 million followers; and the A Duang application, which provides online fortune-telling services with online payment options.<\/em><\/p>\n\n\n\n<p>Ookbee is also planning to produce five drama series based on famous novels, for distribution and viewing through such platforms as LINE TV and Viu. The company is also eyeing the China market.<\/p>\n\n\n\n<p>\u201cWe are the largest digital-content ecosystem in Thailand. We are aware of global market trends related to professional user-generated content (PUGC). For example, YouTubers can make money by creating content. We needed to follow this trend, so that anyone with a smartphone and internet access can create their own content.\u201d<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Promoting user-generated content to create careers<\/h2>\n\n\n\n<p>Natavudh said a good platform developer had to help content creators to deliver their works to target groups, and this, in turn, could bring them regular income and become their occupation.<\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p>\u201cThere are now about 700,000 UGC authors, creating about 10,000 pieces of work every day. However, these people can\u2019t call this their job.\u201d<\/p><\/blockquote>\n\n\n\n<p>The platforms use algorithms to help readers find the content they want. When there are as many as 10,000 pieces of content every day, it cannot all be displayed for everyone. So, Ookbee\u2019s back office has the task of sorting out the right content for different groups. <\/p>\n\n\n\n<p>For instance, not all writing calling itself romantic fiction is the same, or even similar. Artificial intelligence (AI) is used to analyse content and recommend it to different readers.<\/p>\n\n\n\n<p>Content creators begin to get paid when they develop a fan base. Ookbee expects them to use its platform first, before starting to write. \u201cThen we will see how many viewers can be turned into authors,\u201d Natavudh said. \u201cFor example, out of 100 YouTube viewers, there may be only one content creator. But out of 100 TikTok viewers, there may be 20 to 30 content creators.\u201d<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><a rel=\"noreferrer noopener\" href=\"https:\/\/www.thestorythailand.com\/en\/15\/07\/2020\/3423\/\" target=\"_blank\">QueQ sees potential as an enabler of social distancing<\/a><\/li><li><a rel=\"noreferrer noopener\" href=\"Thailand\u2019s digital economy to grow by over 15%\" target=\"_blank\">DEPA: Thailand\u2019s digital economy to grow by over 15%<\/a><\/li><\/ul>\n\n\n\n<p>So, Ookbee has to make it easier and more convenient for its viewers to create content. When readers gain easier access to content, the authors can see faster results. At present, a \u201cchat faction\u201d feature is available; it is designed for easier creation of content. With easier access, Ookbee will attract more viewers, which in turn will inspire more content creators.<\/p>\n\n\n\n<p>\u201cAt some point \u2013 when they have enough followers \u2013 content creators may decide to write in a way that is designed to make money. In this way, we can share some revenue with the authors,\u201d Natavudh said.<\/p>\n\n\n\n<p><strong>Ookbee\u2019s revenue comes from many channels \u2013 selling content, incorporating advertisements, advertising networks like Google, banner campaigns and premium memberships, in addition to holding events to sell products and souvenirs like books and dolls.<\/strong><\/p>\n\n\n\n<p>But the company\u2019s main source of income is selling content. Readers support authors by paying in \u201ccoins\u201d, and Ookbee gets a share.<\/p>\n\n\n\n<p>\u201cAt present, users cannot use these \u2018coins\u2019 across the platforms. But we are developing for the future. We may request e-Wallet permission for authors to use \u2018coins\u2019 on their personal spending.\u201d<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Authors\u2019 monthly revenue totals nearly Bt50 million<\/h2>\n\n\n\n<p>Natavudh said <strong>Ookbee had 10 million users who visited at least once a month.<\/strong><\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p>During the COVID-19 crisis, new visitors were joining at a rate of about 10 to 20 per cent of the total each month. <\/p><\/blockquote>\n\n\n\n<p>However, increasing visitor numbers did not mean proportional revenue growth. Most of the company\u2019s 700,000 authors did not write for multiple platforms, since each of the applications catered for a different group of customers.<\/p>\n\n\n\n<p><em>The authors have a combined monthly revenue of almost Bt50 million, most of it coming from \u201ccoins\u201d. The writers also make a small amount of income from advertisements. Now there are hundreds of writers who do it as a full-time job \u2013 some of them making as much as Bt100,000 a month.<\/em><\/p>\n\n\n\n<p>\u201cFor writers who can do it as a regular job, income from \u2018coins\u2019 is more stable than ad revenue. If our authors can make stable incomes, our platforms will get stronger. We must try to increase their income so that the authors can survive without needing other jobs. This is one of the keys.\u201d<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Strategy of targeting the youth market<\/h2>\n\n\n\n<p>Natavudh said the world was gradually shifting towards real-time content. In the past, books were published as entire volumes. But today, they can be made available at one or two chapters a day. Authors get quick feedback to their works and they can chat with their readers. Also, readers exchange comments between them. Now, Ookbee has moved even closer to real-time by allowing its authors to live-stream their content.<\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p>All Ookbee platforms clock more than an hour for each user per day \u2013 translating into about six billion minutes a month.<\/p><\/blockquote>\n\n\n\n<p>\u201cFirst, we need to realize that Gen Y and older people have money, but no time. Younger people have time, but no money.\u201d<\/p>\n\n\n\n<p>Ookbee attempts to employ people of the same age as their customers to become \u201cCommunity Managers\u201d. For the A Duang fortune-telling app, for example, the firm hires people with astrological backgrounds in the hope that they will understand the customers better.<\/p>\n\n\n\n<p>C Channel is a Japanese company formed by former LINE executives. Natavudh met them during a Series B fund-raising event and persuaded them to launch their project in Thailand. The business model calls for as many videos as possible to be uploaded for Facebook views and ads. It also serves as a channel for promoting Ookbee\u2019s activities.<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><a rel=\"noreferrer noopener\" href=\"https:\/\/www.thestorythailand.com\/en\/16\/06\/2020\/2545\/\" target=\"_blank\">Let\u2019s Plant Meat Can Be a Unicorn!<\/a><\/li><li><a rel=\"noreferrer noopener\" href=\"https:\/\/www.thestorythailand.com\/en\/05\/07\/2020\/3107\/\" target=\"_blank\">AIS calls for nationwide support in \u2018fight for economic recovery\u2019<\/a><\/li><\/ul>\n\n\n\n<h2 class=\"wp-block-heading\">Strengthening the ecosystem in Thailand: no plan to rush overseas<\/h2>\n\n\n\n<p>Natavudh said that revenue was created when an ecosystem was constructed in which writers gained strength and were able to create more content. As well, intellectual property rights could be used to create added value for authors. For example, certain works of fictions may be used to produce drama series, which may earn as much as Bt10 million a month and make Ookbee\u2019s platforms better known.<\/p>\n\n\n\n<p>Ookbee now finds itself wanting to identify a means of telling stories that is easier than writing and reading; whether it can use this method better than others, and whether it will generate revenue. This requires a lot of trial and error.<\/p>\n\n\n\n<p>The company\u2019s latest application is Beeber, a platform that allows people to tell fictional stories verbally, as podcasts and live streaming, similar to the \u201cradio dramas\u201d of days gone by.<\/p>\n\n\n\n<p>Ookbee now has about 700,000 customers in Indonesia, but this is still a rather new market. Thailand has a far smaller population than Indonesia, but Thai customers pay more for this kind of content. The company has another 100,000 customers in Vietnam.<\/p>\n\n\n\n<p>Ookbee is still capable of increasing the number of viewers in Thailand who can not only afford to pay, but also pay an increased amount per viewer. As there are many young customers, the company is also mindful of businesses other than entertainment, such as education for children, but not on an educational technology (EdTech) platform.<\/p>\n\n\n\n<p>Ookbee has made a profit, although it is not a sizeable profit. However, Ookbee U, which offers business-oriented user-generated content, has seen fast growth and has generated substantial revenue. But it has opened so many new communities that the company is still suffering some losses as it builds the service up.<\/p>\n\n\n\n<p><strong><em>\u201cWe are restructuring and raising funds for further expansion,\u201d Natavudh said. \u201cWe expect to complete the Series C round within this year. After the fund-raising, we will look for investment opportunities. We will give up projects that do not work because we don\u2019t want to make a loss, which may discourage prospective investors.\u201d<\/em><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ookbee pushes back the boundaries of online entertainment Ookbee came into existence as a start-up in 2012, initially selling e-books and online magazines, before diversifying. It now focuses on attracting large numbers of monthly users to its platforms, and at present there are about 10 million monthly active users on all of its platforms \u2013 [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":2961,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[118,119],"tags":[1224,1225,1226],"class_list":["post-2960","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-story-special","category-interview-en","tag-ookbee-2","tag-e-book","tag-digital-content-ecosystem-2"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>From e-book business to Thailand\u2019s largest digital-content ecosystem - The Story Thailand<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.thestorythailand.com\/en\/from-e-book-business-to-thailands-largest-digital-content-ecosystem\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"From e-book business to Thailand\u2019s largest digital-content ecosystem - The Story Thailand\" \/>\n<meta property=\"og:description\" content=\"Ookbee pushes back the boundaries of online entertainment Ookbee came into existence as a start-up in 2012, initially selling e-books and online magazines, before diversifying. 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