Read.douban.com (豆瓣阅读), a subsidiary of Douban.com (豆瓣), which focuses on user-generated content, is establishing its first film company, according to an internal memo by CEO Yang Bo released to local media. “Following a six-month trial, Douban Read is now officially moving into film production,” the memo to staff from Yang reads. The first project will allow scriptwriters to adapt stories from the Douban Read catalog and then make script submissions to the new film company. Over 200 scriptwriters have signed up for the project while the film company itself already has 240 scriptwriters. 16 minute-long film ‘A Hero For A Day’ (一日英雄) is the first film of the rank made on a $20,000 budget provided by Douban Read.