经济观察报 记者 任晓宁 编者按：2025年，科技互联网的齿轮转动得比以往任何时候都要快。在技术洗牌的前夜，没有人敢停 下。 我们看到，大厂在算力和大模型应用里厮杀，电商在监管与合规的夹缝中重塑底线。做无人机的去卷扫 地机器人，一批公司蜂拥去做智能眼镜，整个硬件圈陷入了一种"无所不能"的集体幻觉与入口焦虑。 我们也看到，人形机器人刚踉踉跄跄地走出实验室，在车间干些零活，就迎来残酷的价格战；短剧告别 了一夜暴富的粗放模式，漫剧直接降维打击，头部内容公司既兴奋又不安。 这不再是写份PPT就能拿到千万融资的时代，技术、商业化场景和生态优势，丢了哪头都不行。活下 去，并且要硬核地活下去，成了2025年TMT行业的共识。 北京隐风文化科技公司创始人刘子凡用"沸腾"来形容2025年的短剧市场。她曾在华策影视（300133）担 任短剧业务负责人，制作过《我的归途有风》《以爱之名》等。她认为，2025年短剧行业变化主要体现 在3个方面： 一是从业人员变多了。2025年在横店拍摄短剧的演员人数增长到13万人，比2024年翻了9倍；二是剧组 专业化程度提高了，约70%的传统影视从业者进入短剧行业，带动短剧拍摄走向专业化。此前两三 ...

经济观察报 记者 任晓宁 编者按：2025 年，科技互联网的齿轮转动得比以往任何时候都要快。在技术洗牌的前夜，没有人敢停下。 北京隐风文化科技公司创始人刘子凡用"沸腾"来形容2025年的短剧市场。她曾在华策影视担任短剧业务负责人，制作过《我的归途有风》《以爱之名》等。 她认为，2025年短剧行业变化主要体现在3个方面： 一是从业人员变多了。2025年在横店拍摄短剧的演员人数增长到13万人，比2024年翻了9倍；二是剧组专业化程度提高了，约70%的传统影视从业者进入短 剧行业，带动短剧拍摄走向专业化。此前两三个人就能拍的小剧组一去不复返，现在主流剧组大多为40人至60人的规模；三是内容多元化。老套路（小人物 逆袭、打脸扇巴掌）作品越来越少，创新内容越来越多。 "真正属于短剧创作者的黄金时期来了。"刘子凡认为，短剧行业开始放慢脚步，修炼内功，进入可持续发展的阶段。 精品化 我们看到，大厂在算力和大模型应用里厮杀，电商在监管与合规的夹缝中重塑底线。做无人机的去卷扫地机器人，一批公司蜂拥去做智能眼镜，整个硬件圈 陷入了一种 " 无所不能 " 的集体幻觉与入口焦虑。 我们也看到，人形机器人刚踉踉跄跄地走出实验室，在车间 ...

Core Viewpoint - The short drama industry is facing challenges of homogenization and low-quality content, but the series "Miracle" by the Central Radio and Television Station stands out as a high-quality benchmark, focusing on the stories of ordinary people's struggles and reflecting the development of Shenzhen over 45 years [4][5][6]. Industry Challenges - The short drama industry experienced rapid growth starting in 2020, but has since been plagued by a flood of low-quality works, with issues such as distorted values, violence, and excessive commercialization becoming prevalent [5][8]. - The rise of formulaic content, often referred to as "爽剧" (refreshing dramas), has led to a decline in quality, with many works relying on repetitive tropes and low artistic standards [8][9]. "Miracle" as a Benchmark - "Miracle" represents a pivotal shift in the short drama sector, moving from quantity to quality, and establishing a new paradigm for mainstream narrative creation and dissemination [5][6]. - The series employs a "short drama + unit drama" format, allowing for the integration of small stories that reflect larger societal themes, thus providing a fresh narrative structure [6][7]. Storytelling and Themes - "Miracle" dissects Shenzhen's 45-year development into 15 interconnected stories, addressing various themes such as economy, society, technology, and ecology, while transforming significant issues into relatable narratives [6][10]. - Each unit story, such as "The City’s Piano" and "Red Tree Years," effectively combines personal dreams with broader historical contexts, showcasing the human experience behind rapid urban development [6][10]. Quality and Production - The series is characterized by high production values, featuring a professional cast of well-known actors, which enhances the authenticity and emotional resonance of the stories [12]. - "Miracle" challenges the perception of short dramas as mere "fast consumer goods" by delivering substantial content that connects with public sentiment and knowledge [11][12]. Conclusion - Overall, "Miracle" not only demonstrates that short dramas can effectively tell Chinese stories and foster a sense of collective identity but also sets a significant example for the industry's move towards high-quality development [12].

相比之下，上海既没有横店那样奢侈的大块地皮，也不具备一线城市之外的低成本优势。尽管上海电影 制片厂、车墩影视基地为这座城市积淀了一定的影视制作基础，但上海"竖店"的出现，并非自上而下的 产业规划，更多是一家民营企业在转型中摸索的结果。上海国际短视频中心位于上海嘉定区，距离市中 心约40公里，周边以制造业工厂为主。园区的前身是姚记扑克设立于此的生产车间。随着中国短剧出海 的势头增强，上海"竖店"也吸引了更多海外剧组。根据园区提供的数据，去年共有15个外国剧组来拍 摄，包括澳大利亚、西班牙、英国、美国、韩国、泰国等国。 上海交通大学媒体与传播学院教授徐剑接受《联合早报》采访时表示，中国短剧已经进入"2.0阶段"， 即行业精英和专业资本开始系统性进入，制作、投放和商业模式也逐步走向规范化。他认为，按照目前 的发展趋势，短剧很有可能超越网文和游戏，成为中国企业在文化领域"统治力最强的一个赛道"。（作 者黎康） 新加坡《联合早报》1月26日文章，原题：一手旧牌打出新局面，上海"竖店"抢占短剧风口凌晨4时，天 还未亮，上海郊区一幢别墅内灯火通明。这里不是私人住宅，而是一处短剧拍摄片场。自去年12月上线 以来，别墅隔几天就 ...

Core Insights - The overseas micro-short drama market is experiencing significant growth, with a projected market size of $4 billion by 2025, expected to exceed $5 billion by 2026 [2][3] - Monthly active users have surpassed 100 million, indicating a strong potential for future growth in user acquisition [2][3] - Major platforms like TikTok are accelerating their presence in the market, with the launch of dedicated short drama applications [1][2] Market Performance - The estimated download volume for overseas micro-short drama apps is projected to reach 1.855 billion by 2025, representing a year-on-year increase of over 300% [3] - The revenue composition shows that Chinese micro-short drama applications dominate, with in-app purchase revenue expected to be approximately $2.163 billion, accounting for 94.93% of the global market [3] - The top 20 platforms are expected to generate over $1.897 billion in in-app purchase revenue, indicating a highly concentrated market [4] Competitive Landscape - The market is witnessing a significant increase in advertising spending, with a total of 13.957 million ad materials projected for 2025 [5] - The number of overseas micro-short drama applications has surged from around 200 at the beginning of the year to approximately 1,100 by year-end, reflecting a rapid expansion of participants [5] - The competition is intensifying as both local and international players, including traditional media giants, enter the market [5][6] Challenges and Opportunities - The production and operational costs for short dramas are rising significantly, with overseas production costs potentially increasing up to seven times compared to domestic costs [6] - The industry is transitioning towards a more mature phase, with a focus on high-quality content production and localization to meet diverse cultural demands [7][8] - Innovations in AI technology are seen as a potential solution to address production capacity and cost challenges, with expectations for breakthroughs in the "AI+" era [9]

Core Insights - The traditional model supporting web authors, based on word count for "full attendance" and "subscriptions," is nearing its limits due to the saturation of traffic growth. The short drama market's emergence in 2025 has opened new avenues for value creation in the crowded web literature ecosystem [1][2] Group 1: Market Dynamics - Over 6,000 web novels have been adapted into short dramas, resonating with audiences through relatable life details and emotional depth, providing substantial financial returns for authors [1] - The short drama industry is experiencing a revival, with the adaptation of web novels leading to significant viewership, as seen with the hit short drama "盛夏芬德拉," which surpassed 4 billion views [2] - The competition in the short drama sector has shifted towards the acquisition of IP resources, with platforms investing heavily to encourage the production of high-quality adaptations [3] Group 2: Financial Opportunities for Authors - In the first half of 2025, many authors reported earning substantial income from copyright adaptations, with some receiving tens of thousands of yuan, despite low initial novel royalties [3][10] - The adaptation of web novels into short dramas has democratized opportunities for lesser-known authors, allowing them to benefit from the booming market [8][11] - The revenue model for authors has shifted from traditional ad revenue and reader tips to primarily relying on copyright fees and profit-sharing from adaptations, regardless of the original work's popularity [7][10] Group 3: IP Resource Competition - By 2025, over 6,700 web works had been adapted into short dramas, with more than 3,600 already available, indicating a significant resource pool for high-quality content [11] - The inherent traffic of web IPs provides a solid audience base for short dramas, with quantifiable metrics aiding in the selection of IPs for adaptation [11] - The experience of web authors in narrative structure and character development enhances the quality of adaptations, reducing development costs and time [11][12] Group 4: Industry Evolution - The rise of short dramas represents a shift in the content creation landscape, allowing for quicker, lower-cost adaptations compared to traditional long-form dramas, thus enabling more creators to participate [19] - The integration of web literature and short dramas is creating a new cycle of value, where successful adaptations not only generate revenue for authors but also boost the original works' readership and IP value [16][21] - The current environment is seen as a turning point for creators, transforming writing from a gamble into a multi-dimensional investment opportunity [23][24]

Group 1 - The 2026 National Radio and Television Work Conference was held in Beijing, focusing on key tasks for the broadcasting and online audio-visual sectors, including promoting the development of high-quality micro-short dramas and enhancing the management of online variety shows and live broadcasts [1] - Pacific Securities believes that the regulation of the short drama industry is becoming clearer, transitioning from early chaotic growth to quality improvement, with a continuous trend towards high-quality supply driving demand growth [1] - The animation form of short dramas, known as "manhua dramas," is expected to attract new users due to its different content, themes, and visual styles compared to live-action short dramas, supported by the maturation of AI technology and favorable platform policies [1] Group 2 - CITIC Securities highlights that AI is enhancing production efficiency, with micro-short dramas leading the way, as advancements in AI models are transforming production processes and content in the film and television industry [2] - Domestic leading companies are actively integrating AI into their production processes and launching AI-driven micro-short drama products, aiming to improve efficiency and output new products like AIGC micro-short dramas and AI manhua [2] - The industry is expected to see performance growth and cost savings for companies leveraging AI applications in their operations [2]

Core Viewpoint - The short drama industry is experiencing explosive growth, with significant viewership and engagement, indicating a shift in audience preferences and a potential transformation in the entertainment landscape [4][9][10]. Group 1: Industry Trends - By the end of 2025, the short drama market reached a scale of 500 billion, surpassing the film industry, and by mid-2025, it achieved this figure in just six months [9]. - The user base for short dramas has expanded to nearly 700 million, indicating that short dramas have become a mainstream form of entertainment rather than a niche [9][10]. - Major long video platforms like iQIYI, Tencent Video, and Youku are increasingly focusing on short dramas, reflecting their growing importance in the content ecosystem [9][10]. Group 2: Content Evolution - The narrative styles and themes of short dramas have evolved from simplistic plots to more complex and diverse storytelling, marking a transition from a "1.0" to a "3.0" era of short dramas [6][22]. - The success of short dramas like "盛夏芬德拉" has demonstrated a demand for innovative content that resonates with audiences, leading to a shift in production quality and thematic depth [6][22]. Group 3: Market Dynamics - The dominance of the "红果" platform in the short drama space is evident, capturing over 95% of the monthly active user penetration rate, significantly outpacing competitors [13]. - The competitive landscape is shifting, with platforms adopting various strategies to leverage short dramas for user engagement and revenue generation, including exclusive partnerships and innovative monetization models [15][21]. Group 4: Production and Financial Aspects - The production costs for short dramas are rising, with top actors commanding up to 50% of total production costs, leading to increased financial pressures on production companies [19][24]. - The trend of producing a high volume of short dramas has become standard, with companies like 百川中文 aiming to produce 400 dramas in 2026, highlighting the industry's focus on scalability [22]. Group 5: Audience Engagement and Marketing - Marketing strategies for short dramas are evolving to resemble those of long-form content, with increased emphasis on brand-building and audience engagement through events and social media [23]. - The integration of commercial partnerships and endorsements for short drama actors is becoming a significant revenue stream, indicating a shift towards a more commercialized approach in the industry [24].

Core Insights - The perception of short dramas has shifted from being considered "cheap and low-quality" in 2024 to a more nuanced appreciation for their emotional depth and production quality by the end of 2025 [1][3] Industry Trends - The transition from a "paying for views" model to a "viewers seeking quality content" model is driving traffic towards high-quality productions, indicating a natural selection process favoring premium content [3] - The short drama industry is experiencing a significant upgrade in production quality, with the average crew size increasing to 40-80 members, and the number of jobs created reaching approximately 1.333 million [6][8] - The production costs for mid-tier short dramas have risen by 30%-50%, now averaging between 500,000 to 600,000 yuan, with some productions exceeding 1 million yuan [10] Content Quality Enhancement - Emotional engagement in short dramas has evolved from simplistic narratives to more complex character development and emotional depth, with protagonists exhibiting realistic traits and growth [11][13] - The industry is witnessing a trend towards character-driven narratives, where protagonists are no longer one-dimensional but possess depth and relatability, enhancing viewer connection [11][13] Market Dynamics - The male-oriented short drama market, initially dominant, has seen a decline, with male-themed productions dropping from 521 to 312 titles, although a resurgence of quality male dramas is noted since August 2025 [15][17] - Notable male dramas like "One Piece" and "The Adventure of the Great Grandmother" have gained significant viewership, indicating a potential recovery in the male short drama segment [17][20] IP Development - The adaptation of long-form IPs into short dramas is becoming a common practice, with several classic titles being reimagined for shorter formats, although the compatibility of deep emotional content with short drama formats remains a challenge [21][23] - Successful short drama IPs are being developed into series, with rapid production cycles allowing for timely audience feedback integration, leading to higher quality sequels [25][26] Technological Integration - The rise of AI-generated short dramas is noted, with several successful titles emerging in 2025, indicating a shift towards innovative storytelling methods that could fill existing content gaps [27][30]

Core Insights - The "Red Fruit Short Drama Annual Awards" event, launched by the Red Fruit Short Drama APP, serves as a significant benchmark for short drama enthusiasts to evaluate their consumption experiences and gains in 2025 [1] - The standout series "Summer Fendela" topped the drama list, with its lead actors Liu Xiaoxu and Guo Yuxin leading the actor rankings, showcasing its phenomenon status with data indicating its popularity [1] - The industry is undergoing profound changes, moving from a focus on fast-paced, high-conflict narratives to more nuanced storytelling, as evidenced by the success of "Summer Fendela" [2][5] Industry Trends - The evolution of audience aesthetics is driving content upgrades, with viewers now seeking deeper narratives and character development rather than just emotional stimulation [3][5] - The shift in audience demand has led to a noticeable trend towards high-quality productions, with creators focusing on script refinement, casting skilled actors, and investing in high-quality production values [6][8] - The emergence of "Summer Fendela" as a non-typical short drama highlights the industry's adaptation to audience preferences for more substantial content [6] Financial Dynamics - The move towards high-quality productions is a double-edged sword, as increased production costs can lead to significant financial risks for creators [8][9] - The advertising revenue and subscription models in the free short drama market are often insufficient to cover rising production costs, leading to challenges in profitability [12] - Red Fruit's new revenue-sharing policies have significantly increased the financial support for creators, allowing for better risk management and encouraging innovative content creation [13][15] Future Outlook - The short drama industry is expected to face challenges in keeping pace with rapidly changing audience preferences, necessitating a focus on innovation and responsiveness [16] - The integration of AI technology is anticipated to revolutionize content production, enhancing efficiency and reducing costs, while also creating new opportunities in both animation and live-action formats [17][19]