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ByteDance, Baidu, Kuaishou, and Xiaomi are venturing into net novels and quick dramas to comprehend a brand new monetization mannequin. Manufacturers ought to take a leaf out of their e book.
What Occurred: Be it the “bossy president” or “wealthy boyfriend born with a golden spoon,” the predictable but addictive and extremely satisfying plots of net novels have amassed a myriad of on-line readers in China. Based on the Chinese language Academy of Sciences report, 48.6 p.c of web customers learn net fiction and the market dimension exceeded $4.2 billion (30 billion RMB) in 2021.
Given this gold mine of alternative, huge tech giants resembling ByteDance, Baidu, Kuaishou, and Xiaomi are all venturing into the sector. To understand a brand new monetization mannequin, these firms are beginning to launch devoted on-line literature applets and producing their very own quick dramas impressed by net novels. Cellphone firm Xiaomi not too long ago launched the “Duohua quick video” app, permitting paid customers to observe quick video collection. Baidu’s free novel web site Qimao can be testing the quick drama enterprise. And greater than 2,000 collection printed on the video-sharing app Kuaishou have upwards of 100 million views on the platform.
The Jing Take: Amid sluggish promoting income efficiency, tech conglomerates in China wish to discover new engines of progress. In contrast with TV dramas and flicks — which require important budgets and don’t essentially have a excessive return on funding — the capturing cycle of quick performs is mostly a lot quicker (inside 10 days) and the manufacturing prices could be stored beneath $1,400 (10,000 RMB), in line with Tech Planet.
As well as, net novel-inspired quick dramas take pleasure in a broader viewers: not solely do millennials and Gen Z viewers love them, however they’re additionally discovering middle-aged readers too. Based on the 18th Nationwide Studying Survey, 23.2 p.c of seniors aged over 50 habitually learn on-line literature. Proceed to learn the total article right here
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