PACIFIC SECURITIES(SH:601099) 智通财经网·2025-11-10 11:48Core Viewpoint - The short drama industry is transitioning from rapid growth to quality enhancement, driven by clearer regulations and a trend towards high-quality content, with the market expected to approach 100 billion yuan by 2025 [1][2]. Group 1: Market Growth and Trends - The Chinese short drama market is projected to reach 50.5 billion yuan in 2024, with expectations to nearly double to close to 100 billion yuan in 2025 [1]. - The user base for short dramas is expected to grow to 600-700 million by 2025, significantly higher than the 300-500 million range in 2024 [2]. Group 2: Supply and Demand Dynamics - The trend towards high-quality content is evident as renowned actors join short drama productions, and regulatory standards improve, enhancing production quality [2]. - The audience's perception of short dramas is shifting positively, with a steady increase in user numbers as the quality improves [2]. Group 3: User Demographics and Content Differentiation - Animated dramas (漫剧) are emerging as a new growth driver in the short drama sector, with distinct user demographics compared to live-action dramas [3]. - Male users constitute 86% of the animated drama audience, while female users make up 51% of the short drama audience, indicating differing content preferences [3]. Group 4: AI and Platform Support - The animated drama sector is expected to see 3,000 new releases by mid-2025, with a compound growth rate of 83%, and the market size projected to exceed 20 billion yuan [4]. - Major platforms are providing support through policies that enhance IP, funding, and traffic for animated dramas, while AI technology is significantly reducing production costs and time [4].