字节否认番茄系300亿营收，但红果试图“通吃”短剧

Core Insights - The short drama market remains one of the few growth areas amid the peak of internet traffic dividends, with ByteDance's "Tomato Series" projected to exceed 30 billion to 50 billion yuan in profit by 2024, and revenue expected to double to 60 billion yuan by 2025 [1] Group 1: Industry Dynamics - The short drama business is evolving into a scalable content industry, with the Hongguo platform aiming to cover the entire IP, production, distribution, and monetization chain [2] - As of October 2025, the revenue from IP adaptations for micro short dramas on the Tomato platform has increased by 800% year-on-year, with over 6,000 works entering the adaptation process [2] - The rapid production cycle of short dramas, exemplified by the adaptation of "True Rich Girl is a Scholar" taking only 64 days, highlights the efficiency of the data-driven approach [2] Group 2: Creator Ecosystem - The Hongguo short drama platform has opened up for independent screenwriters and has implemented a revenue-sharing mechanism that ties earnings more closely to actual viewership [3][4] - As of October 2024, the total revenue share for scripts on the Hongguo platform has exceeded 70 million yuan per month, transitioning the industry from a traditional employment model to a partnership model [4] - This new model is particularly attractive to actors and screenwriters, allowing them to become co-creators and link their earnings to the performance of their works [5] Group 3: Competitive Landscape - Traditional long-video platforms are also entering the short drama space, creating a competitive environment, with platforms like iQIYI, Tencent Video, and Youku launching their own short drama initiatives [7] - The focus of competition is shifting from producing hit dramas to making hits a regular occurrence, with Hongguo positioned as a central player in this evolving landscape [7]