一场短剧行业分享会的尾声，干货已聊得七七八八。一家短剧制作公司的创始人松弛地靠在椅背上，拿起话筒，半是认真半是玩笑地抛出一句："现在能 打的平台就剩那一家，马化腾到底什么时候才进场做短剧啊？" 话音落下，会议室里响起一片会意的轻笑。但笑声背后却也透露着几分无奈。 该老板头疼。公司今年有爆剧，也有一些剧表现不及预期。平台的合作政策收紧导致收入下滑，有员工称，自己年中奖金被取消。还有说法是，平台要求 该公司额外为内含广告的短剧进行付费后，短剧方可上线。 此刻，这位创始人的"玩笑话"，道出了部分行业从业者心中的一个呼喊：在行业主要平台日趋强势、规则都由它定的环境下，能否再来一个平台，激活竞 争，带来多一种选择。 最近，"腾讯视频竖屏短剧剧本合作开放平台"上线，有红果短剧刚起步时的影子；微信公众号则启动了短剧创作功能的灰度测试，有"番茄小说"刚兴起时 的姿态。 马化腾被点名，看来不冤枉。那么，腾讯准备真来做短剧行业的鲶鱼吗？ #01 腾讯坐在家里，就靠着流量分润，把钱收了。然而，腾讯似乎并未特别看中"短剧来的这笔容易钱"。 对短剧，腾讯最初的态度是"有所为，有所不为"。一位腾讯内部人士透露，早期小程序剧成本低、内容下 ...

Core Insights - The short drama industry is experiencing rapid growth, with Red Fruit Short Drama leading the market with 173 million monthly active users, a 220.3% year-on-year increase, and a significant revenue stream exceeding 500 million per month [1][3][4] - Traditional long video platforms like iQIYI and Tencent Video are facing challenges due to declining paid user numbers and profitability, prompting them to pivot towards the short drama sector [1][12] - The competition is intensifying as long video platforms innovate their business models and content strategies to compete with Red Fruit Short Drama [2][12] Market Dynamics - Red Fruit Short Drama's success is attributed to its integration within the Byte ecosystem, leveraging traffic from Douyin and content from Tomato Novel, which provides a vast resource for content creation [4][8] - The platform employs a free-to-watch model supported by advertising, appealing to a large user base, particularly in lower-tier markets [7][8] - The short drama market is projected to exceed 100 billion by 2027, indicating a robust growth trajectory despite challenges such as content homogenization and rising production costs [24][28] Competitive Landscape - Major players like iQIYI, Tencent Video, and Youku are launching their own short drama initiatives, with iQIYI introducing new theater formats and Tencent focusing on high-quality productions [20][21][22] - The competition is not only about content but also about innovative revenue-sharing models to attract quality creators, with platforms adjusting their strategies to enhance profitability [12][22][29] - Despite the aggressive entry of long video platforms into the short drama space, they are still struggling to establish a foothold against Red Fruit, which has a strong brand recognition among viewers [10][29] Content Creation and Monetization - Red Fruit Short Drama offers attractive incentives for content creators, including higher upfront payments and revenue sharing, making it a preferred platform for many [9][12] - The industry is witnessing a shift towards more diverse monetization strategies beyond traditional subscription models, with platforms exploring advertising and e-commerce integrations [28][29] - The content landscape is becoming increasingly competitive, with a focus on unique storytelling and audience engagement to differentiate offerings [24][28]

Core Insights - Tencent Video has upgraded its revenue-sharing policy for vertical short dramas, introducing three collaboration models: exclusive, non-exclusive first release, and non-exclusive non-first release [1][2] - The new revenue-sharing structure includes a base share and an incentive share, with varying rates based on the type of collaboration [5][6] Group 1: Policy Changes - The exclusive base rate is set at 1.5 yuan/hour, with an incentive rate of 3 yuan/hour for views exceeding 1 million minutes [1][6] - Non-exclusive first release has a base rate of 1 yuan/hour and an incentive rate of 2 yuan/hour, while non-exclusive non-first release has a base rate of 0.3 yuan/hour and an incentive rate of 0.6 yuan/hour [1][6] - This marks the third adjustment to the vertical short drama policy by Tencent Video in 2023, indicating a proactive approach to enhance content offerings [2][5] Group 2: Content Strategy - Tencent Video is focusing on optimizing its business model to attract quality projects and accelerate the production of original content [3][10] - The platform has launched over 20,000 vertical short dramas covering diverse themes, with a significant portion available for free viewing without ads [8][10] - Tencent Video has also entered the self-produced vertical short drama market, planning to release 25-30 original works monthly [10][14] Group 3: Market Positioning - Tencent Video's strategy contrasts with other long-video platforms, as it aims to balance both paid and free content while actively participating in content production [11][12] - The company is not under immediate pressure to monetize short content, allowing it to explore and refine its approach to vertical short dramas [12][14] - The competitive landscape includes platforms like Douyin and Hongguo, making Tencent Video's entry into vertical short dramas a strategic necessity despite the challenges of market saturation [12][14]