If you still haven’t heard of web novels, you will soon. The relatively-new format is proving to be irresistible with readers. Thanks to the unique, original intellectual property that underpins these stories, authors are even seeing their work grow far beyond the literary world.
Web novels represent an effective pathway for creators to build scalable IP. Unlike traditional publishing, which often treats stories as standalone products, web novels are designed from the ground up with expandable IP in mind from the start of the development process.
Web novels aren’t exactly new — having been around since the early 2000s — but they are experiencing a surge in popularity as technology and people’s reading habits evolve. Many literature lovers have moved beyond paper books to reading on devices like tablets and phones, even reading for short bursts of time throughout the day. Web novels are created with these trends in mind, releasing new sections or chapters in installments on platforms like WebNovel.
They are unique for another reason, too: readers can influence the direction of the story. Rather than the author publishing a story for readers to read, web novels enable a two-way street with the author and readers working collaboratively. If it succeeds, valuable IP can be created through this process.
Web novels are particularly popular among younger readers. In 2023, platforms like WebNovel and Wattpad reported that Gen Z accounted for nearly 80 percent of all readers. The format is most popular in the Philippines, Indonesia, Brazil, India, and the U.S., with fantasy novels, romance, and action the most popular genres.
The result is a global web novel market worth somewhere between US$10.5 billion and US$34 billion in 2023. That’s expected to top US$126 billion by 2032.
“One of our biggest successes has been connecting with young people across the globe. Whether it’s literature, anime, TV, film, or games, youth are the core audience,” said Hou Xiaonan, CEO and president of web novel publisher Yuewen.
Digital-first novels enable deeper connections with readers
One of the most successful web novels, Lord of Mysteries, launched in 2018 as a serial web story. The dark fantasy blends Victorian aesthetics, steampunk, and xianxia, which means ‘immortal hero elements’, and has been translated into multiple languages and adapted into merchandise. IP-themed games are already in development. This scaling of IP has been successful, as the English version alone has been viewed more than 50 million times. What’s more, Lord of Mysteries has been placed in the British Library’s permanent collection, cementing its cultural significance. The animated series, produced by Tencent Video, have officially launched worldwide on June 28.
The success of Lord of Mysteries is an example of what’s possible when exciting new creative IP is scaled from books to a host of other formats and experiences. Web novel platforms like Yuewen, and its international arm, WebNovel, offer writers a full suite of IP-related services including translations, licensing, distribution, cross-platform strategy, and more.
The Lord of the Mysteries was successful because reader feedback deeply influenced the story pacing, plot development, and character arcs, which also helped build a deeply invested fanbase. The story was also translated and adapted for different markets, enabling a stronger connection across different parts of the world. Finally, the team kept a close eye on analytics, which helped inform decisions around adaptations and led to the successful expansion across comics, audiobooks, and animated series.
Growth is underpinned by IP protection
None of this would be possible without robust IP protection serving as its foundational principle. WebNovel’s meticulous copyright management—clarifying and safeguarding the author’s rights—created the framework that underpins further IP development across formats and ultimately more commercial opportunities.
In today’s dynamic media landscape, creators are no longer confined to a single path. If a story resonates, its IP enables scale. Anyone crafting a novel, designing a webcomic, or building an immersive game world stands to benefit. After all, it’s not just writing — it’s building a universe.
IP doesn’t have to be a static asset — if it resonates, it has the potential to flourish across a variety of platforms. For writers, web novels offer an exciting new path forward that can help build a community and lasting IP.
