With 45 million unique users and an average of 30 minutes of engagement within its mobile app, Wattpad has established itself as a strong force in print that’s weathered the storm of digital disruption.
And the company has indicated that it’s ready to take this loyal community of writers and readers to the next frontier of content creation; Wattpad announced that it’s launching Wattpad Studios, which will operate as a multi-channel network (MCN) and will partner with the entertainment industry to co-produce Wattpad stories for print, film, television, and digital platforms.
“We can easily spot the voices that resonate with audiences around the world and the stories that have an established fan base.”
Aron Levitz, who acted as Wattpad’s head of business development in the past, will take the helm as head of Wattpad Studios. In his role as head of business development, Levitz was instrumental to securing partnerships like Sony Pictures, which used Wattpad to promote its Pride and Prejudice movie, and General Electric, which commissioned Wattpad writers to write stories on its 50s comic book covers.
“Wattpad deals exclusively in the one thing that powers the billion-dollar entertainment industry – original and compelling stories,” said Head of Wattpad Studios Aron Levitz. “As the largest and fastest-growing platform for stories, we can easily spot the voices that resonate with audiences around the world and the stories that have an established fan base. Wattpad Studios will help industry executives make smarter decisions, faster.”
In his role, Levitz will connect the entertainment and publishing industries with original content created by Wattpad Stars, the biggest influencers on the platform chosen by the global Wattpad community.
Other initiatives under Wattpad Studios include Wattpad Words, which helps publishers connect with readers and test story ideas by gathering real-time reader feedback; Wattpad Presents, a partnership with networks and producers to adapt Wattpad stories for television; and Wattpad Insights, which allows executives to subscribe to trend reports that identify and analyze the types of content that are trending on the platform. Executives using the platform can also access IP reports that identify the top trending IP on Wattpad and hidden gems curated by Wattpad’s team.
Wattpad is already at work with Wattpad Presents, as it has partnered with TV5 Network in the Philippines. TV5 has produced 200 episodes representing 40 Wattpad stories.
The company says that this will usher in a new method of monetization for writers’ stories, as online writers now have the opportunity to receive commissioned work from major brands. “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,” said Wattpad Co-Founder and CEO Allen Lau. “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.”