Chinese digital reading firm iReader Technology said its microdrama segment became its largest business unit last quarter, following strong growth in 2024.

The company reported 776 million yuan (US$107 million) in revenue from short dramas in 2024. That momentum has continued into the first quarter of this year, helping the firm cement its position in the sector’s top tier.

iReader entered the microdramas market in 2023, and the growth has continued into 2024. This positions the company as a significant player in the industry. Most of the revenue from this segment currently comes from its WeChat mini-programs.

To expand its distribution channels, iReader plans to launch two proprietary platforms in 2025. These include Suikan Microdrama (速看短剧), a free-to-watch app, and Xianying (现映), a paid platform. These will complement the existing WeChat mini-program ecosystem.

The company attributes its success in the microdrama market to its extensive content library and increasing production capacity.

🔗 Source: Securities Times

🧠 Food for thought

1️⃣ Microdramas are redefining digital entertainment with explosive growth

iReader’s strong performance reflects a global surge in microdrama platforms that’s reshaping entertainment consumption patterns.

The global microdrama market reached $2.5 billion in 2024 and is projected to grow to $6 billion by 2029, demonstrating remarkable industry momentum 1.

In Q1 2024 alone, microdrama apps generated $146 million in global consumer spending, representing significant growth from the previous year 2.

This rapid expansion is particularly notable in China, where micro-dramas generated $6.9 billion, surpassing traditional box office earnings 1.

The format is designed specifically for mobile viewing with episodes lasting 1-10 minutes, catering to shorter attention spans while still delivering emotionally engaging storytelling.

2️⃣ Distribution strategy pivots mirror industry-wide channel evolution

iReader’s plan to expand from mini-programs to dedicated apps aligns with broader industry trends toward diversifying distribution channels.

The top three microdrama apps now gross over $3 million in a single day, with some platforms like DramaBox earning close to $1 million daily through their dedicated applications 3.