The Lotte Tower in Seoul set the stage for the Future Is Vertical: The Global Rise of Short Form Media conference, held by Crisp, a leading short-form scripted video content company. The event brought together key stakeholders from across the globe to discuss the booming industry, which is projected to reach $26 billion in global revenues by 2030.
The summit kicked off with a keynote address by Adrian Cheng, chair of Crisp and the newly formed Almad Group, who emphasized the global phenomenon of microdramas. Cheng highlighted the intentional nature of every frame and moment in these short-form videos, noting their popularity from Seoul to Sao Paulo and even in emerging markets like Lagos.
During a panel discussion on the evolution of short-form drama, Chen Bo, chief executive of Neorigin, shared insights on how the format has been shaped by gaming methodologies. He explained that Neorigin’s microdrama team stemmed from their game publishing team, utilizing similar methodologies, business models, and publishing tools.
One of the key takeaways from the conference was the production timeline and budget of microdramas. Unlike traditional game development, which can take years and cost hundreds of thousands of dollars, microdramas can be produced in just one to two months for under $100,000. This cost-effective approach is appealing to content creators and platforms alike.
Market intelligence firm Media Partners Asia presented data showcasing the rapid growth of the sector, which has skyrocketed from virtually zero to $5 billion in 2023, with projections reaching $12 billion by the end of the year. While China currently dominates the market, other regions like the U.S., Japan, Southeast Asia, and Korea are experiencing significant growth.
The conference also delved into emerging territories for short-form media, with a particular focus on India, Thailand, and Indonesia. These markets have seen exponential growth in microdrama apps, with Indonesia becoming the second-largest download market after India.
Industry veterans like Martin Moszkowicz emphasized the importance of budget discipline and intellectual property development in ensuring the success of microdrama series. Content quality was also highlighted as a crucial factor for retaining viewers and sustaining growth in the industry.
The event showcased innovative approaches to content creation, including the vertical animated microdrama “White Rabbit” by Emmy-awarded co-founders Emily Yang and Maciej Kuciara. The series incorporates audience participation through episode greenlight voting, engaging viewers in a unique storytelling experience.
Discussions on the potential of AI in microdrama production sparked debate, with some industry experts projecting cost savings through AI applications. However, others stressed the importance of storytelling over technology, emphasizing that the story itself is what ultimately matters to viewers.
Platforms like TikTok shared insights into their microdrama distribution strategies, highlighting the impact of multilingual dubbing and multi-country deployment on audience engagement. The platform’s data showed significant increases in ad consumption with these approaches.
Overall, the conference shed light on the rapid growth and evolving landscape of the short-form media industry. With investment activity on the rise and major players like DramaBox and ReelShort making waves in the market, the future looks bright for microdramas. As the industry continues to mature, infrastructure advancements and embedded ecosystems like WeChat mini-programs in China are expected to play a key role in driving profitability and sustainability for content creators and platforms alike.
