传媒：拓展海外微短剧市场，国内各平台助力内容侧

Investment Rating - The industry investment rating is "Leading the Market" which indicates an expected outperformance of over 10% compared to the relevant market index in the next 6-12 months [5]. Core Viewpoints - The report highlights the potential of the overseas micro-short drama market, with platforms actively promoting content across various regions. The total in-app purchase revenue from over 100 short drama applications is projected to reach $252 million from August 2022 to June 2024, showing an overall growth trend [2]. - The overseas market, particularly in English-speaking regions, accounts for approximately 70% of global in-app purchase revenue, indicating significant market potential. Japanese and Indonesian markets follow, contributing 5% and 3% respectively [2]. - The domestic micro-short drama market is expected to reach 50.44 billion yuan in 2024, reflecting a year-on-year growth of 34.90%. By 2027, the market size is projected to exceed 100 billion yuan [2]. - Various platforms are adjusting revenue-sharing strategies to enhance content development, with significant increases in the number of micro-short dramas being produced and released [2]. Summary by Sections Market Potential - The overseas micro-short drama market is experiencing growth, with a peak in revenue growth observed in November 2022. Despite fluctuations, the overall trend remains positive [2]. - The report cites that as of August 2024, there will be over 22,615 micro-short dramas available on various platforms, with a monthly increase in the number of dramas being produced [2]. Domestic Market Dynamics - The domestic market is stable, with projections indicating a significant increase in the number of micro-short dramas released. The report notes that platforms are enhancing their revenue-sharing models to incentivize content creators [2]. - The report emphasizes the importance of advertising spending and hit series in driving downloads and content revenue [2]. Investment Recommendations - The report suggests focusing on companies such as Zhongwen Online, Jiecheng Co., Haikan Co., Zhangyue Technology, Huace Film & TV, Yili Media, BlueFocus Communication Group, InSai Group, and Kuaishou-W for potential investment opportunities [2].