“The skit drama has taken advantage of popularity day by day and has gone up 90,000 miles.”

The round that began with “Doom”gamingThe short drama trend has now taken the media, film, television, and game industry by storm.

Recently,The concept of short drama in the secondary market has become a “big dark horse,” directly triggering the traffic economy.The one that continued to be popular until nowThe concept of a short drama continues to be strong today.Chinese online rose and stopped by 20cm. In the past five trading days, the company's stock price has almost doubled.

In addition, Tianwei Video has also achieved 5 consecutive boards, and Tang De Film and Television has increased by more than 14%.Reading technology has risen and stopped, Lishang Guochao, Huanrui Century, and 1000 per cent,The Blue Ocean of Happiness, Huace Film and Television, etc. have surged one after another.

Judging from today's latest capital flows, the current net inflows of the media and cultural media sectors are also far ahead, with 3,022 billion yuan and 2,819 billion yuan respectively.

Currently, the short drama platform is becoming a new entry point for traffic, starting“Done! The popularity of the “I'm Surrounded by Beautiful Women” live-action skit game began, and a carnival in the gaming industry and film industry began.

Fresh air outlet for flow

Along with this trend of artificial intelligence generated content (AIGC), concepts such as short video games have also accelerated and helped them get out of the ring.

And behind the skit game that exploded,The people who have fun are very good, and so are the manufacturers.

In this hot racetrack, in addition to players from powerful platforms such as iQiyi, Youku, Tencent, Mango, Station B, Douyin, Kuaishou, etc., many listed media, film and television companies such as ChineseOnline, Tianwei Video, Pocket Reading Technology, Huace Film and Television, and Yuanwang Technology have begun to lay out the field of interactive video and television games.

A little while ago,Chinese online hasWhen surveyed by the agency, it was stated,In 2020, the company began exploring the short and medium drama market and establishing framework cooperation with multiple platforms to promote product forms such as TV dramas, mini-program skits, and interactive skits. It was implemented rapidly in 2021, and the revenue of mini-program skits (paid video series) exceeded 300 million yuan in 2022.Currently, short drama scripts mainly come from online novel adaptations, and the company has 5.5 million IPs.

On November 6, Hippo Games also announced that it has reached an in-depth strategic cooperation with Intiny, the producer and distributor of “Daredevil”. Afterwards, Intiny Studio responded on official WeChat that it had reached a project level intended cooperation with Hippo Games, but currently it is mainly focusing on DLC (game expansion pack) development for “Daredevil” due to limited production capacity.

As a leading production company for quality short dramas, Ning Meng Film and Television was also the first series producer to run a commercial model on the short drama circuit. Earlier, Ning Meng Film and Television also stated that it has filmed and launched nearly 20 short dramas since 2022, including many popular homemade dramas, and has prepared nearly 100 projects under development at the same time.

However, with the expansion of manufacturers' deployment teams, many companies are also warning of risks and wary of hype.

A few days ago, Haiguan Co., Ltd. said that since the official launch of the Haiguan micro-drama project in May 2023, it is currently still in the initial stage of investment and trial operation. It has not yet generated large-scale profits. At the same time, investors are reminded to prevent hot market hype and pay attention to investment risks.

Tang De Film and Television recently stated that the company is also paying attention to and studying products related to mini-program dramas, and currently has no related output or revenue.

Lishang Guochao also said on the interactive platform today that the company has implemented a digital transformation strategy and promoted integrated platform construction and transformation and upgrading projects, and currently there is no direct benefit to the company. Moreover, the company did not consider setting up live-action skits or games.

Seize the new racetrack opportunities?

As the popular “electronic mustard” after a leisurely meal, how much space does the skit game have on the track?

According to the “2023 China Online Audiovisual Development Research Report”, the number of short video users in China reached 1,012 billion, with users aged 19 and under accounting for 50.9%. In the last six months, more than half of short video users have watched short dramas, micro-variety shows, and instant noodles for less than 3 minutes. The proportion of users aged 19 and under is 57.9%.

Furthermore, according to data from the “2022 China Digital Reading Report”, the number of digital reading users in China reached 530 million last year, an increase of 4.75% over the previous year. IP adaptations, including short dramas, have become the biggest incremental market for the development of online literature.

As the short drama industry ushered in explosive growth, CITIC Construction Investment expects a market size of 20 to 30 billion dollars in 2023, and is expected to continue to grow at a high rate next year.

Under the new impetus, brokerage firms are also flocking to the skit market for research, and many institutions have also suggested seizing opportunities on the new circuit.

Galaxy Securities pointed out that the short drama market grew rapidly during the year, and video platforms, film and television companies, and online writing companies in the relevant industry chain are expected to benefit.

According to Dataeye, the advertising market for short dramas in the second half of 2023 achieved leapfrog growth. The volume of single-day advertising increased from one million in 2022 to 80 million in the second half of 2023. According to ROI estimates between 1.1 and 1.2, the current annual market size of the short drama market is expected to be around 30-35 billion dollars. Coupled with the further increase in market penetration in subsequent industries, and the gradual increase in the quality of plays and the conversion rate of skits, the short drama market is expected to reach a market size of more than 50 billion dollars next year.

Open Source Securities believes that the short drama circuit is experiencing a period of rapid growth. It is recommended to actively seize trends in the entertainment industry that embrace new technology and meet the new needs of the younger generation, increase the layout of new tracks such as skits, interactive video and video games, and focus on film, television, and game companies that have IP, traffic, and first-mover advantages and are actively entering the market.