China's estimated $5 billion microfilm industry has exploded and is spreading to the US market.
China's ultra-short film industry (lasting only about 1 minute - up to a few minutes/episode) is booming, led by giants like Bytedance and Kuaishou, expected to create new waves in the market dominated by Hollywood cinema.
According to Reuters , China's Micro Dramas market is booming, with an estimated value of $5 billion (about 123 trillion VND) per year. Apps like Kuaishou and Douyin (China's version of TikTok) are attracting millions of viewers, targeting mainly middle-aged workers and retirees.
69-year-old actor Zhou Jian is starring in a short film "Grandma's Moon", designed with multiple one-minute episodes, shot vertically, to appeal to mobile phone viewers.
“They don’t go to the cinema anymore,” Chu Kien shared, emphasizing the convenience of watching movies on mobile devices.
The micro-short film industry is competing fiercely with the world's second largest film industry, which is controlled by the China Film Group.
The trend has spread to the US market. According to data from Appfigures, China's three major movie-watching apps recorded 30 million downloads in the first quarter of 2024, generating $71 million in global revenue.
“Audiences are spending more and more time on short videos, which means they have less time for long-form TV shows,” said Ashley Dudarenok, founder of a marketing consultancy in Hong Kong.
Kuaishou is the market leader, accounting for 60% of the top 50 micro-short films last year. According to Kuaishou Vice President Chen Yiyi, about 94 million people watch more than 10 episodes a day on the platform. While the first episodes are usually free, viewers have to pay to watch subsequent episodes.
The popularity of micro-short films is often tied to themes such as revenge or stories of overcoming hardship and turning a life around, similar to the fairy tale Cinderella. Many viewers find stories about social class and upward mobility relatable, especially in the context of rising youth unemployment in China.
Ultra-short films aren't just a huge hit in China, they're also expanding into the U.S. market. Short film platform ReelShort, backed by Tencent and Baidu, has quickly surpassed Netflix in downloads in the U.S.
However, this development has not been without its challenges. China’s micro-short film industry remains under close regulatory scrutiny. Multiple campaigns to remove inappropriate content have been launched, resulting in the removal of tens of thousands of films.
However, the growth potential of this industry is huge. According to market research firm iResearch , the budget for each super short film is only about 28,000 to 280,000 USD (about 688 million VND to 6.8 billion VND), allowing for low-cost production and quick turnaround time.
China is facing a great opportunity to tap into the ultra-short film market, both to meet growing entertainment needs and to expand its cultural influence globally.
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