然而步入2026年初，海外短剧市场迎来两大变数：一是TikTok正式加入战局，二是漫剧形态开始涌入该 领域，使得市场竞争态势更趋复杂与激烈。《华夏时报》记者于1月下旬对话枫叶互动副总裁南亚鹏， 围绕行业趋势、平台策略与市场挑战展开了深入探讨。 美国市场贡献超六成收入 问题：公司作为短剧出海头部厂商，在过去的2025年，有哪些爆款剧及收获？ 南亚鹏：相较于2024年，ReelShort在2025年的收入增幅超过一倍。 从全球区域看，短剧在中国以外的市场，美国大约占据近一半的份额。美国市场也是ReelShort最大的市 场，贡献公司收入超60%。ReelShort平台上短剧的主要拍摄地在北美，例如好莱坞、纽约等地。 ReelShort的产能也在不断提升，从2024年每周上线一、两部新剧，提升到目前每周上线五、六部新剧。 本报（chinatimes.net.cn）记者于玉金 北京报道 在美国iOS免费榜升至第2名，娱乐榜位列更是升至了第1名——ReelShort在2023年11月凭借"霸总短 剧"在海外爆火。 ReelShort为Crazy Maple Studio（枫叶互动）2022年8月推出的产品，主推每集1— ...

【环球时报驻美国、新加坡特约记者 冯亚仁 任重 环球时报记者 李迅典】 编者的话： 昔日的"造梦工 厂"好莱坞正经历一场深刻的阵痛：成本失控、罢工余波、消费端习惯变化与全球竞争，正让这座工业 巨塔步入结构性衰落。然而，与之形成对比的是，源自中国的短剧却凭借算法驱动和极高的周转效率， 在北美市场异军突起，成为一些好莱坞从业者的"救命稻草"。接受《环球时报》采访的专家表示，短剧 的爆发并非单纯的创意胜利，而是系统化产业能力对碎片化需求的精准捕捉，它解构了高门槛的传统叙 事，将影视生产从"灵感驱动"转向"数据驱动"。好莱坞业内人士也坦言，整个行业都应向中国同行"寻 求指导和灵感"，借鉴他们的"关键经验"。 好莱坞演员进组中国短剧 "停！"导演一声令下 ，洛杉矶一家电影工作室顿时一片忙乱。演员们争先恐后地去换戏服，工作人员 也忙着布置新的道具。英国《经济学人》报道称，这仅仅是拍摄的第二天，他们就已经拍完了相当于一 周剧情的悬念。"圣诞节找到了一个无家可归的亿万富翁老公""我们永远不会再复合"……这种起源于中 国、被称为"抖音一代的电视"的视频类型，由专为智能手机设计的1分钟短片组成正在全球爆炸式增 长。随着短剧应用在 ...

Core Insights - The rise of short video formats, particularly "short dramas," is significantly impacting traditional media landscapes, especially in Latin America, where this new entertainment form is experiencing explosive growth [1][2] Group 1: Market Trends - Sensor Tower reports that global downloads of short drama platforms surged by 186% year-on-year in Q4 2025, reaching 733 million, surpassing the combined downloads of Netflix and Disney+ at 658 million [2] - Latin America is identified as the fastest-growing market for short dramas, with downloads of the top 20 short drama apps increasing by approximately 402% in 2025, following a staggering 4300% growth in 2024 [2][4] Group 2: Consumer Behavior - The appeal of short dramas lies in their ability to provide immediate emotional stimulation with low barriers to entry, making them particularly suitable for consumers accustomed to fast-paced content on platforms like TikTok and Instagram Reels [1][4] - The traditional narrative style of short dramas aligns well with the popular "telenovelas" in Latin America, facilitating easier acceptance among local audiences [4] Group 3: Economic Factors - The economic environment in Latin America supports the growth of short dramas, with an estimated revenue increase of 9.1% from 2024 to 2025, significantly outpacing the U.S. growth rate [4] - The expanding middle class and the digitalization of services like retail and ride-hailing are driving demand for short video streaming [4] Group 4: Competitive Landscape - Netflix has also seen rapid growth in Latin America, with its revenue from the region increasing the fastest among its global markets [5] - Experts believe that short dramas do not pose a direct threat to established players like Netflix, as they target different audiences and have distinct revenue models, primarily relying on advertising and pay-per-episode [5] - Omdia estimates that total revenue for all non-Chinese short drama streaming platforms will reach $3 billion by 2026, which is significantly lower than Netflix's quarterly revenue of $12 billion [5]

Core Insights - The short drama industry is experiencing explosive growth in overseas markets, with significant revenue potential, but faces challenges such as high project failure rates and reliance on translated content [1][2][3] Market Overview - The global content market has immense potential, with 90% of it located overseas, and the short drama sector is projected to reach $3.6 billion in 2025, a 126% increase year-on-year [1][2] - The overseas short drama market is significantly smaller than the domestic market, with revenues estimated at $2-2.5 billion compared to approximately $100 billion in China [2][3] Competitive Landscape - Major players like ReelShort, DramaBox, and GoodShort dominate the revenue rankings, while new entrants like PineDrama and PikoShow are emerging [2][7] - The competitive landscape is shifting as local and international players enter the market, reducing the dominance of Chinese companies [7][8] Revenue and User Engagement - In 2025, the top overseas short drama apps generated substantial revenues, with ReelShort leading at approximately $550 million [4] - The user engagement metrics show that the majority of revenue is concentrated in the U.S., with emerging markets like Southeast Asia and Latin America showing low penetration rates [3][25] Supply and Demand Discrepancy - There is a significant supply-demand gap in the overseas market, with only about 300 new short dramas produced annually, while demand is estimated to be in the thousands [5][6] - The reliance on imported content is high, with 80-90% of overseas short dramas being adaptations of Chinese works [5][6] Business Model and Profitability - The industry is characterized by a mix of monetization strategies, including IAA (In-App Advertising) and IAP (In-App Purchases), but many platforms are struggling with profitability [5][11] - A significant portion of short drama projects (80-90%) fail to break even, leading to a situation where revenue growth does not translate into profits [11][12] Cultural Adaptation Challenges - The industry faces challenges in cultural adaptation, with many platforms relying on formulaic adaptations that do not resonate with local audiences [13][14] - Successful local players, such as MyDrama, are emerging by creating content that aligns with local cultural preferences, avoiding the pitfalls of cultural discount [14] AI and Future Trends - AI is expected to play a crucial role in transforming content production, with the market for AI-driven short dramas projected to grow significantly [16][17] - The cost of producing AI content is decreasing, which may lead to increased competition and innovation in the sector [18] Regional Growth Opportunities - The Middle East is identified as a rapidly growing market for short dramas, with significant increases in downloads and revenue [21][23] - Cultural and market dynamics in regions like the Middle East present both opportunities and challenges for content creators [26][27]

Core Insights - TikTok has launched a new short drama app called PineDrama, currently in testing phases in the US and Brazil, aiming to capture a share of the rapidly growing global short drama market, which is valued at over $10 billion annually [1][2] - The app features a user-friendly interface similar to TikTok, offering free, ad-free content, and focuses on engaging narratives primarily targeting female audiences [2][3] Market Opportunity - The global short drama market is projected to exceed $11 billion by 2025, with a double-digit growth rate, making it an attractive opportunity for platforms seeking expansion [2][9] - The US market is identified as a prime target due to its high user willingness to pay and established subscription models, alongside a mature production environment conducive to short drama content [12] Competitive Landscape - PineDrama enters a competitive arena dominated by ReelShort and DramaBox, which together hold nearly 46% of the overseas short drama market revenue as of early 2025 [14] - These competitors have established strong content creation and distribution networks, leveraging insights into audience preferences and emotional engagement to create compelling narratives [15][16] Strategic Importance - The introduction of PineDrama is seen as a strategic move to enhance TikTok's content ecosystem, providing a deeper narrative experience that can increase user engagement and retention [3][4] - By launching an independent app, TikTok aims to attract core users interested in short dramas, setting the stage for future monetization opportunities [6] Previous Attempts - TikTok's parent company, ByteDance, has previously attempted to penetrate the short drama market in Japan and Southeast Asia with mixed results, highlighting the challenges of local content adaptation [7][8] - Past failures, such as the PikoShow in Japan, were attributed to a lack of cultural resonance and competitive content offerings [7] Future Outlook - The success of PineDrama will depend on its ability to navigate a mature market with established players, focusing on localized content and user engagement strategies [16] - The competition will not solely revolve around user acquisition but will also hinge on content localization and operational efficiency [16]

Core Insights - The overseas short video market continues to thrive, with total revenue exceeding $2.3 billion and downloads surpassing 1.2 billion in 2025, marking significant year-on-year growth [1][3]. Market Overview - Chinese companies dominate the overseas short video app revenue rankings, with the top 20 apps largely developed by Chinese firms [1]. - The leading app, ReelShort, generated nearly 4.3 billion yuan in revenue in 2025, primarily from the U.S. market, which accounts for about 62% of its earnings [3][5]. Revenue Rankings - The top five short video apps by revenue in 2025 include: 1. ReelShort (枫叶互动) - 112% growth 2. DramaBox (点众科技) - 75% growth 3. GoodShort (新闻时代) - 200% growth 4. Dramawave (昆仑万维) - 2800% growth 5. NetShort (麦芽文化) - 2000% growth [2]. Download Rankings - The top five short video apps by downloads in 2025 include: 1. DramaBox (点众科技) - 200 million+ downloads 2. ReelShort (枫叶互动) - 100 million+ downloads 3. KuKu TV (Mebigo Labs) - 100 million+ downloads 4. Dramawave (昆仑万维) - 100 million+ downloads 5. RapidTV (Kennedyy) - 80 million+ downloads [10]. Market Dynamics - The U.S. market is the core area for overseas short video apps, contributing over $1.1 billion, nearly half of the total market size [6]. - Emerging markets, particularly in India, Latin America, and Southeast Asia, are also showing significant growth potential [11]. Future Trends - AI-generated short videos are emerging as a potential growth area, with major companies like ByteDance and Tencent investing in this space [7]. - Companies are adapting their monetization strategies based on regional user preferences, with some focusing on in-app purchases (IAP) in Western markets and ad-based models in Southeast Asia [11]. Challenges - Short video companies face challenges in efficiently collecting overseas revenues due to various barriers such as channel sharing, tax issues, and compliance [12].

Core Viewpoint - Chinese enterprises are undergoing a transformation in their global expansion strategies, evolving from exporting raw materials to products, and now to innovative business models, particularly in the cultural sector with short dramas [2][3]. Group 1: Evolution of Globalization - The first phase of globalization for Chinese companies involved exporting raw materials, such as tea [3]. - The second phase began in 2001 with China's entry into the WTO, leading to the global distribution of Chinese manufactured products [3]. - The current phase is characterized by the export of innovative business models, exemplified by platforms like Temu and TikTok, which integrate products, services, and operational models for global markets [3]. Group 2: Short Drama Industry - The short drama format, created by Chinese Online five years ago, compresses traditional TV episodes from 40-50 minutes to 1-3 minutes, catering to the fast-paced consumption habits of younger audiences [3]. - In 2022, the short drama market in China generated nearly 1 billion yuan in a single month, attracting over 100,000 companies to enter the sector [3]. - By 2024, the Chinese short drama market is projected to exceed 50.5 billion yuan, surpassing the Chinese film market, which is expected to be over 40 billion yuan [3]. Group 3: Global Impact and Future Prospects - The short drama platform ReelShort achieved over 1 million downloads in a single day, surpassing TikTok, while FlareFlow also topped download charts in North America [4]. - The global audience for short dramas spans 160 countries, establishing it as a significant cultural phenomenon alongside Hollywood films and Korean dramas [4]. - The global long video market is anticipated to exceed 100 billion dollars by 2024, with short dramas expected to surpass this figure due to their innovative format and content density [4][5]. Group 4: Technological Advancements - The integration of artificial intelligence in short drama production has significantly reduced costs and production time, making it more efficient [5]. - The cost of producing animated content has been reduced to one-tenth of previous expenses, with production time cut from three years to three weeks [5].

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 short drama segment in China's entertainment market is experiencing significant growth, with a market value exceeding 100 billion yuan, nearly double the domestic box office revenue of 51.83 billion yuan in 2025 [1] - The industry is transitioning from a focus on quantity to quality, with an emphasis on high production values and innovative content [1] - The competition is intensifying, leading to a "winner-takes-all" effect, where resources are increasingly concentrated among leading players [1] Industry Growth and Market Dynamics - In 2025, China's overseas short drama market revenue surged to $2.38 billion, with downloads exceeding 1.21 billion, reflecting year-on-year growth rates of 263% and 135% respectively [2] - The top three platforms, ReelShort, DramaBox, and GoodShort, collectively hold over 53% of the market share, indicating a high market concentration [2] Regional Market Insights - North America remains the core profit region, contributing over 60% of overseas revenue, while Southeast Asia holds the highest market share at approximately 35% [4] - The appeal of Chinese short dramas is growing globally, with successful penetration into markets like the U.S., which has strong user payment capabilities [4] Challenges and Competition - Despite rapid growth, challenges such as content homogenization, high costs, and insufficient localization are becoming more pronounced [6][8] - The number of companies competing in the overseas market has decreased significantly, indicating a shift towards oligopolistic competition [6] AI's Role in Industry Transformation - AI is becoming a crucial driver for efficiency in the short drama export sector, significantly reducing translation costs and production timelines [9][11] - Platforms are increasingly relying on AI for translation, with some reporting that AI can reduce translation time from two days to three hours [11] Future Trends and Strategic Shifts - The industry is expected to evolve from a focus on standalone hits to nurturing long-term IPs and brand-driven content [16] - The competition landscape is shifting towards public platforms like TikTok and YouTube, which are enhancing their short drama distribution incentives [18]

Group 1 - The core viewpoint of the articles highlights the growing significance of the cultural industry in China's economy, with a focus on innovative development and the integration of technology to enhance cultural experiences [1][2][3] - During the New Year holiday, Chinese theme parks saw a significant increase in hotel bookings, with a 50% year-on-year growth, indicating a rising popularity of domestic cultural tourism [1] - The cultural industry is increasingly recognized as a "growth engine" for the national economy, with a reported 7.9% year-on-year increase in revenue for cultural enterprises in the first three quarters of 2025, outpacing GDP growth [1] Group 2 - Activating existing cultural resources is essential for enhancing cultural value, with examples like Shenzhen's Gankeng Ancient Town demonstrating successful sustainable operational models that significantly increased revenue from 3.5 million to over 40 million yuan [2] - The integration of digital technology into the cultural industry has led to the emergence of new industries and models, enhancing consumer experiences and optimizing industry efficiency, as evidenced by the global download of micro-short dramas exceeding 470 million [2] - The "going global" strategy for Chinese culture is evolving from product export to value dissemination, with significant growth in overseas sales of Chinese games projected to reach $18.557 billion in 2024, and a notable increase in overseas licensing agreements for literary works [3]