"Micro-drama revenues in China are set to surpass the country's domestic box office this year, according to a report by Media Partners Asia ( MPA). The report focuses on the global serialized short-form drama economy, which also found that revenues in China for micro-dramas have climbed from $0.5B in 2021 to $7B in 2024, and are expected to exceed $16.2B by 2030, with a 11.5% compound annual growth rate (CAGR)."
"By 2030, advertising will contribute 56% of revenues, with subscriptions at 39% and commerce at 5. Outside of China, the global micro-drama market generated $1.4B in 2024 and is forecast to reach $9.5B by 2030, with a 28.4% CAGR. Revenue mix globally will remain subscription or in-app purchase-led at 74%, but advertising will rise to 25% and commerce to 1% by 2030."
"In China, micro-dramas have become "mainstream," with revenues set to exceed $9.4B in 2025, with more than 830 million viewers consuming microdramas. From this audience, nearly 60% pay or transact. China's industry is anchored by three major players: ByteDance (Red Fruit), Tencent (WeChat Video Accounts) and Kuaishou (Xi Fan). Each has built dedicated apps, separate from premium long-form video, and tightly integrated with social and payments ecosystems."
Micro-drama revenues in China surged from $0.5B in 2021 to $7B in 2024 and are projected to top $16.2B by 2030, a 11.5% CAGR. By 2030 advertising is expected to supply 56% of Chinese revenues, subscriptions 39% and commerce 5%. Global micro-drama revenues reached $1.4B in 2024 and could grow to $9.5B by 2030 at a 28.4% CAGR, remaining subscription-led at 74% while advertising rises to 25%. Over 830 million Chinese viewers consume micro-dramas, with nearly 60% paying or transacting. Major Chinese platforms have built dedicated apps and integrated IP pipelines, and AI is already deployed across discovery, iteration, localization and branching storytelling, with cost-compression potential ahead.
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