Sina Technology News reported on the afternoon of March 27 that the 11th China Online Audiovisual Conference was held in Chengdu. Yu Ke, head of the Drama Business Center of Kuaishou Entertainment Business Department, delivered a speech at the “Short Video and Live Streaming Forum to Empower High-Quality Industry Development”.
In his speech, Yu Ke explained that the short drama industry has moved from a stage of crazy growth to a stage of healthy development, and the entire market has gradually entered a mature period. In 2023, more than 1,400 short dramas were launched on the market, with a year-on-year growth rate of more than 50% for two consecutive years. Judging from the market size, the short drama market is nearly 40 billion yuan, or about 70% of the annual movie box office. In the next 5 years, the short drama industry may be able to leverage the 100 billion market and continue to develop in the direction of quality, diversification, commercialization, internationalization, and industrialization.
Yu Ke further explained the layout of Kuaishou's short drama business. He said that by the end of 2023, the number of daily active users of Kuaishou skits was 270 million, up 3.8% year-on-year from 260 million in 2022. In addition, a total of nearly 1,000 Kuaishou Starlight skits have been released, and the number of skit creators gathered on the platform has exceeded 100,000.
Yu Ke said that this year, Kuaishou will pay more attention to the earnings of skit partners, lift the limit on the number of fans on the project account, and upgrade the relevant split billing system. Simply put, the threshold has become lower, earnings have become more stable, and the division gradient has become higher.
Referring to the upgrading of the commercialization of Kuaishou skits, Yu Ke said that this year Kuaishou will help the brand through more flexible content formats, more diverse content gameplay, and more influential large-scale events. “We are proposing the direction of short drama+ this year, such as short drama+IP, short drama+new technology, and short drama+cultural tourism. We hope to create a newer, healthier, and more comprehensive business model through the power of the Kuaishou platform.” (Xu Yuanlei)