Core Viewpoint - Xiaomi has officially launched its independent short drama app "Weiguan Short Drama" on its application store, marking its entry into the competitive short drama market, which is characterized by a trend towards free content and a shift from traditional advertising and paid models [1][2][8]. Company Summary - The "Weiguan Short Drama" app is fully owned by Xiaomi Technology Co., Ltd., and has already achieved 20,000 downloads, currently available only for Xiaomi phone users [2][6]. - The app features over 20 genres, including urban, romance, and family ethics, and emphasizes a user-friendly experience with its "ad-free, free viewing" model [8]. - Xiaomi's strategy indicates a transition from content marketing to building its own content ecosystem, aiming to enhance user retention and explore full-chain capabilities from content production to distribution [8]. Industry Summary - The short drama sector is experiencing intense competition, with major internet companies like Pinduoduo, Taobao, JD, and Tencent actively investing in short drama initiatives [9]. - The short drama market in China is projected to grow significantly, with the market size expected to reach 505 billion yuan in 2024, surpassing movie box office revenues for the first time, and further increasing to 634.3 billion yuan by 2025 and 856.5 billion yuan by 2027 [10]. - The competitive landscape is evolving, with a focus on companies that can effectively convert short drama traffic into core business value and those capable of producing hit content and quality IP [9].