Currently, China's audiobooks are mainly provided in mobile apps like Himalaya FM, Dragonfly FM and Lychee Fm. Yet, unlike the US, where books are read by authors and sold in online bookstores like amazon.com, audiobooks in China are not yet produced in a professional manner, with most of the books in audio format being network literature, provided for free.
The authorization is one of the factors that hinders audiobook production in China. To transform a book into an audiobook, one needs four authorizations from the author –the sublicense to adapt, to perform, to record and to spread, according to a report by Shandong Business Daily.
Despite problems facing audiobooks today, Internet companies - big or small - seem ready to embrace such a trend. Entrepreneurial firms, in particular, are running against time to develop such platforms and mobile apps to get their market share.
"With more and more Chinese starting to 'read', the Chinese audiobook market has become a huge goldmine yet to be excavated," said a spokesman of Himalaya FM. "And we expect the future market shares will reach 300 billion," he added.
As reported by China Economic Net, Himalaya FM has obtained adaptation authorization of most website literatures, and its copyright share has reached 70 percent.
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