Microdramas are moving into a new phase of global expansion, industry leaders said at WAVES Film Bazaar, pointing to the evolution of the genre, increasing male viewership, institutional support in Europe and surging demand in India and across Latin America.
Moderated by Variety’s Naman Ramachandran, panelists Tarun Sawhney (President, Short TV, APAC), Vijay Koshy (President, TVF, Director, Series Lee Berlin) and Dennis Lu analyzed the rapidly growing global market and discussed India’s acceleration into this sector.
Ramachandran began by presenting data showing that China’s microdrama market has outpaced theatrical revenue, reaching an estimated $7 billion compared to $6 billion in box office revenue, and is projected to reach $26 billion by 2030. He described India as a “sleeping giant” that is rapidly awakening. Asked to define the format, Lu described microdrama as a “subgenre of vertical drama.” These are 2-3 minute episodes, often 60-70 chapters per season, built around cliffhangers and addictive progression loops. He noted that platforms such as ReelShort and MyDrama “offer the first 10 to 20 episodes for free, after which users buy tokens, play games, and watch ads,” allowing some operators to generate “more than $1 million per day.”
Sawhney highlighted behavioral changes that are driving this surge. “Our attention spans are decreasing…microdramas are now a lifestyle, deeply ingrained in our entertainment desires.” He disputed higher budget estimates, saying the majority of microdramas were “in the $50,000 to $60,000 range” and that in India and China the cost per minute was as low as $100.
Koshy characterized microdramas as “bite-sized storytelling,” but admitted that TVF is not yet in that category. “We’ve been cautious,” he said. “It’s much more difficult to express a slice of life or satire in short form.”
As genres evolve, Sawhney said while romance and CEO tropes remain dominant, thrillers and horror are also in demand, especially as male audiences have jumped from 10% to nearly 30% in some markets. Latin America and Europe are rapidly diversifying, and Lu points out that Germany’s first publicly funded microdrama based on a historical narrative was created for TikTok, suggesting it has found institutional acceptance. “This shows an openness to bringing more local stories to those platforms. I think that’s also the future of how it evolves in Europe, for example,” he said.
Ramachandran pointed out that Microdramas operate outside of established platforms, making customer acquisition and retention more expensive. Lu admitted that marketing spending was “cutting into profits,” but Sawhney added the alarming ratio: “For every $1 million we spend on content, we spend $10 million on marketing.”
The panel also addressed the accelerating role of AI and answered the question, “Are microdramas here for the long term?” All speakers agreed that as long as vertical-screen mobile phones exist, microdramas are “here to stay.”
WAVES Film Bazaar is a part of the International Film Festival of India (IFFI) market in Goa.
