Caixin Weekly | Micro-Drama Revenues Surpass Box Office, Phenomenal Apps Sweep Globally (AI Translation)
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文｜财新周刊 关聪
By Guan Cong, Caixin Weekly
文｜财新周刊 关聪
By Guo Cong, Caixin Weekly
50岁的女主角偶遇男主，两人“闪婚”，对方不仅百依百顺、温柔体贴，还是故意化装成普通人的富豪，其养女又刚好是自己失散多年的孩子……这是近期《闪婚老伴是豪门》《爱在晚恋时分》《五十而已》等多部“出圈”微短剧的基本剧情，直切核心受众群体的情绪价值：据Quest Mobile测算，短剧类App 52.5%的用户年龄在40岁以上。
A 50-year-old female protagonist unexpectedly meets a male lead, and the two enter into a "flash marriage." He turns out to be a wealthy man disguised as an average person, not only attentive and gentle, but his adopted daughter also happens to be her long-lost child. This is the basic storyline of several recently popular micro-dramas, such as "Flash Marriage with a Wealthy Partner," "Love in Late Romance," and "Fifty and Beyond." These series tap directly into the emotional values of their core audience: According to estimates by Quest Mobile, 52.5% of the users of short drama apps are aged 40 and above.
“付费微短剧受众的年龄段本就偏大，这些剧火起来，其实揭示了中老年女性群体被忽视的情感需求。”一名从长剧转行短剧的编剧告诉财新。
"Paid micro-dramas tend to attract an older audience, and their popularity actually highlights the overlooked emotional needs of middle-aged and elderly women," a screenwriter who transitioned from long-form to short-form dramas told Caixin.
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- Micro-dramas have gained immense popularity in China, with a market size reaching RMB 37.39 billion in 2023 and expected to grow over 30% by 2024, surpassing box office revenues.
- Algorithm-driven content targeting middle-aged audiences, along with themes fulfilling unrealistic desires, has led to high user engagement and significant growth in both domestic and overseas markets.
- The industry's rapid expansion faced regulatory scrutiny due to issues like inappropriate content, leading to stricter regulations and quality improvement requirements.
The article discusses the surge in popularity of micro-dramas, particularly in China, and the evolving dynamics in the short drama industry since their emergence. [para. 1] The typical storylines of these dramas appeal primarily to middle-aged and elderly women, and they are noted for fulfilling emotional needs overlooked by conventional forms of media. Micro-dramas have become immensely popular in China, with 22,600 micro-short dramas launched up to August 2024, indicating their significant presence in the Chinese entertainment landscape. [para. 3]
The rise of micro-dramas is not only due to audience preferences but also a growing industry, expected to surpass box office revenue by 2024. The micro-drama market size is projected to grow by over 30%, reaching approximately RMB 50.44 billion. This format emerged from narrative advertisements and captured audiences with melodramatic plots, high conversion rates, and widespread appeal. Production costs and the fees for screenwriters and actors have surged, indicating financial opportunities and expansion in the industry. However, the rapid growth has not been without regulatory challenges, as concerns over content and values have resulted in increased regulation. [para. 3][para. 5]
Micro-dramas have caught the attention of overseas markets, with short drama apps accumulating nearly 55 million downloads and in-app purchase revenue reaching $170 million by early 2024. The interest in short dramas is expanding beyond Chinese borders, with companies exploring AI technology in production, though the capability remains limited. The need for content diversity is paramount; international audiences demand various genres, resulting in companies translating and adapting Chinese micro-dramas for these markets. [para. 7][para. 9]
The rise of platforms like ByteDance's Hongguo Short Drama app reflects the trend of free short drama consumption. The app, among others, leverages user habits derived from free online literature platforms, capitalizing on content that aligns with lower-tier market preferences. Industry players and traditional long-form video platforms are increasingly investing in micro-dramas to capture this burgeoning viewership. [para. 11][para. 12]
Regulatory changes have prompted micro-drama creators to integrate cultural elements and tourism into their content, supported by financial incentives from local governments. The focus has shifted to ensuring quality, complying with new industry standards, and leveraging short dramas to drive consumption in related sectors. Product placements and influencer marketing are becoming prominent revenue streams, providing brands an opportunity to integrate their products into engaging narratives. [para. 13][para. 14]
Finally, the article covers the overseas expansion of Chinese-produced short dramas and the necessity of producing diverse, culturally attuned content for international audiences. The importance of evolving storytelling techniques, adapting local narratives, and addressing varied cultural preferences is highlighted. The potential for growth in the international short drama market remains high, with companies keenly exploring social media engagement and localized production strategies to capitalize on emerging opportunities. [para. 15][para. 17]
- Huanrui Century
- Huanrui Century's international business unit leader, Gu Jiaming, mentioned that the company sees potential in micro-short dramas as a transformation leverage for the film industry. They aim to leverage the financial opportunities and connect with audiences by providing localized content, drawing production teams and creatives to their region.
- MiMeng
- MiMeng is mentioned in the article as the company that produced the red-themed micro-drama "I Run a Supermarket on the Long March Road," which gained attention during the holiday season but faced controversy due to its premise of opening a supermarket during the Long March. The story's setting was considered disrespectful for such a serious historical event.
- Kans
- Kans is a Chinese cosmetics brand that collaborated with influencer Jiang Shiqi to create the micro-drama "Dressed in Growth." This campaign led to a dramatic increase in Kans's followers on its Douyin official flagship store by 5 million. As per the financial report of Kans's parent company, Shanghai Chicmax (02145.HK), Kans's Gross Merchandise Volume (GMV) on Douyin grew by 374% in 2023, reaching 3.44 billion yuan.
- Ushopal Group
- The article doesn't mention Ushopal Group. It focuses on the growth of micro short dramas in China, their expansion overseas, regulation changes, economic impact, and related industry dynamics, specifically the rise of free content apps and brand collaborations for product placement.
- McDonald's
- The article mentions that McDonald's, along with other brands like KFC and Starbucks, has begun producing micro-dramas aligned with their themes, such as "Rebirth: I Practice Magic at McDonald's." These brand-themed micro-dramas are part of a broader trend where companies are integrating products into narratives to engage audiences and promote their offerings through storytelling, especially in the context of recent developments in the micro-drama market.
- KFC
- KFC has ventured into the micro-short drama space by launching themed short series such as "Rebirth: Queen of Gourmet Can't Afford to Lose," which follows the popular "rebirth" and "time travel" motifs typical of such dramas. These dramas are used to engage audiences and create brand connections, showcasing KFC's foray into using micro-short dramas for marketing and brand engagement initiatives.
- Starbucks
- The article mentions Starbucks in the context of brand micro-dramas. It highlights Starbucks as one of the companies that launched a micro-drama titled "I Opened Starbucks in the Ancient Era," which utilizes the genre's popular themes like "reincarnation" and "time travel" for brand engagement and storytelling. This strategy represents a novel approach to connecting with consumers by incorporating commercial products into narrative-driven content.
- Goyu
- Goyu, a skincare brand, commissioned the micro-drama "大过年的" which was released after the Chinese New Year. The drama prominently integrated the brand's product features into the storyline, and viewers could locate the brand's official account within the video description. Although designed to promote sales directly, such brand-integrated micro-dramas were classified and recommended as regular storylines, not as advertisements, on platforms like Douyin.
- Geely Auto
- Geely Auto is mentioned in the context of branded micro-short dramas. It sponsored the micro-short drama "Rebirth: I Begin Great Auspicious Prosperity," which included links for users to book new car test drives. This drama was designed to highlight and promote Geely's vehicles while appearing as regular entertainment content on platforms like Douyin.
- 44 Pomegranate
- 44 Pomegranate is a brand short film production company mentioned in the article. Hu Yiwen, the content partner of 44 Pomegranate, explains that brand short films aim to change consumer perceptions through product placement in storytelling. These short films provide scenarios where viewers can relate to the target audience and values associated with the product. The company highlights the potential of brand short films to enhance consumer engagement by showcasing products in real-life contexts.
- Liby
- Liby, a brand, participated in the micro-short drama trend by commissioning custom content for marketing purposes. During the mid-year "618" shopping festival, it was among several brands, including Midea and Proya, to produce brand-specific micro-short dramas. These dramas were broadcasted on platforms like Taobao, focusing on "planting grass" (advertising) to promote brand visibility and sales.
- Midea
- "Midea" is mentioned in the context of the "618" shopping event, where its custom micro-short drama was featured on Alibaba's platform. This initiative was part of a marketing strategy alongside other brands like Liby and Proya, aiming to engage consumers through narrative-driven advertisements. These brand-specific micro-short dramas were utilized to "plant the seed" for purchases, contributing to significant sales figures during the promotional period.
- Proya
- Proya is mentioned in the context of brand micro-short dramas during the "618" mid-year sale. The platform showcased custom micro-dramas from brands like Proya, which saw "planting grass" (a form of engagement or promotion) lead to substantial transaction amounts. However, details about Proya's specific strategies or outcomes in these dramas aren't provided.
- Netflix
- The article does not directly mention Netflix. However, it discusses the general video content market and "short drama" (微短剧) trends, with some reference to streaming services like Netflix in terms of content innovation and production trends. It highlights the challenges of creating new storylines within cost constraints, a scenario Netflix may similarly encounter in producing diverse streaming content.
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