Wattpad is launching a multichannel network for its storytellers
LOS ANGELES -- Wattpad, an online community of readers and writers, is jumping into the multichannel network world.
On Tuesday, the company -- which is home to over 250 million original story uploads -- announced the launch of Wattpad Studios, a multi-channel network for its platform of over two million creators.
The goal is to partner with the entertainment industry to co-produce Wattpad stories for print, film, television, and digital platforms.
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"This is the perfect time to launch Wattpad Studios," Aron Levitz, who has been promoted to head of Wattpad Studios, told Mashable. "We have a distinct advantage over other social networks who trade in images or talent. We trade in the atomic unit of the entertainment and publishing industry: Stories."
The idea for the new unit has been in the works for a while, with the Wattpad Stars Program -- a program to help top writers reach their goals -- serving as an early catalyst.
For the writers, the new studio model will be a way to further their digital fame and earn more money for their work.
Levitz is not worried about the already crowded online video world. Other so-called MCNS -- now mostly referred to as mutliplatform networks or MPNs -- don't offer the same product.
"Intrinsically we are differentiated," Levitz said. "We are not simply a talent management group or a producer - we are also a massive social network. This gives us first look at unique voices around the world through our data, insights and trends. Unique views that no other MCN has."
That being said, Levitz does see other existing MCNs as great potential partners.
Already, Wattpad has partnered up with a handful of major players in entertainment including United Talent Agency, Paramount Pictures and TV5 Networks (a Filipino commercial television network).
In addition to access to Wattpad's library of content, partners are able to tap into the platform's data and community insights.
Levitz pointed to TV5 Network’s Wattpad Presents as an example.
The network has already produced 200 episodes representing 40 Wattpad stories. The series itself has "reached millions of viewers, and the network has seen a total viewership increase of 30% between 2014 and 2015," Levitz said.
“Entertainment and Wattpad stories go hand-in-hand. It’s why millions of people around the world spend 15 billion minutes a month on the platform,” Wattpad Co-Founder and CEO Allen Lau, said in a statement. “The launch of Wattpad Studios will not only extend the reach of Wattpad stories, but will also help shape the future of community and data-driven entertainment.”
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Saba was a Los Angeles-based reporter who covers all things digital entertainment, including YouTube, streaming services and digital influencers. Prior to that, she spent two years at the Los Angeles Times covering entertainment for the Calendar and Company Town sections. Saba grew up in Santa Monica and graduated from Boston University with a B.S. in journalism and B.A. in political science. When not reporting, she is usually binge watching shows online or looking for new coffee shops to frequent.
