Microdramas Eyes $26 Billion Future at Crisp’s Seoul Conference
The Lotte Tower, standing tall on the 76th floor, was the perfect setting for the conference titled “Future Is Vertical: The Global Rise of Short Form Media.” Hosted by Crisp, a company specializing in short-form scripted video content, the event brought together key stakeholders from various regions to discuss the rapidly growing industry.
The summit, held at Seoul’s Signiel Hotel, showcased the evolution of short-form media from its roots in gaming and web novels to its current status as a mainstream form of entertainment. Adrian Cheng, chair of Crisp and the Almad Group, set the tone with a keynote emphasizing the global impact of microdramas, highlighting their intentional nature and widespread popularity.
During a panel on the influence of gaming and web novels on short-form drama, Chen Bo, CEO of Neorigin, highlighted the format’s evolution and its connection to gaming methodologies. He explained how his team at NeoOrigin leverages similar tools and techniques used in game development to create compelling microdramas in a fraction of the time and cost.
Market insights provided by Media Partners Asia revealed the exponential growth of the industry, with projections reaching $12 billion by the end of the year. China currently leads the way in revenue generation, but other regions like the U.S., Japan, Southeast Asia, and Korea are quickly catching up.
The conference also shed light on emerging markets like India, Thailand, and Indonesia, where microdrama apps are experiencing significant growth. Content quality was emphasized as a crucial factor for success, with industry experts stressing the importance of engaging storytelling and captivating narratives.
Creativity and innovation were key themes throughout the event, with discussions on untapped territories like unscripted content, horror, and animation targeting Gen Z audiences. The potential of AI in streamlining production processes was also explored, with industry professionals cautiously optimistic about its impact on the industry.
TikTok’s presentation on global traffic codes and distribution strategies highlighted the platform’s success in engaging multilingual audiences and increasing ad consumption. Investment activity in the industry signaled maturity, with major players like Krafton and Fox backing vertical video production companies.
Despite the industry’s growth, profitability remains a challenge for many players, with high production costs and competitive market dynamics. However, the conference showcased the potential for continued growth and innovation in the world of short-form media, positioning it as a dynamic and evolving industry with vast opportunities for creators and investors alike.
