How Did Microdrama Apps Turn Quibi’s Failure into a $146M Success?

Quibi launched at the worst possible time. With commuting, office breaks, and other on the go moments disappearing during the pandemic, the idea of watching “quick bites” of video never really fit. Despite a massive marketing push, the app fizzled almost as soon as it arrived, and for years it seemed like anything resembling Quibi was doomed to fail.

But four years later, the concept is back, only this time rebranded as microdramas and with a very different reception. Today, short drama apps are among the hottest trends in entertainment.

The Numbers

In the first quarter of 2024, 66 active short drama apps generated $146 million in global consumer spending across the App Store and Google Play. That’s an incredible jump of nearly 8,000% compared to just $1.8 million spent in the same category during the first quarter of last year.

Worldwide spending on these apps in 2024 $65 million, setting a new monthly high for the apps and towering more than 10,500% over March 2023’s total of $619K spent. Clearly, in terms of adoption and monetization, these apps are experiencing a moment, and perhaps just the beginning of an even greater one.

All told, these apps have attracted an estimated $245 million in worldwide gross revenue and 121 million downloads.

Graph showing the monthly spending increase of microdramas year by year.

Downloads Increased Too…

The surge in downloads has been remarkable. In the first quarter of 2024, short drama apps were installed for the first time nearly 37 million times. That figure represents 992% year over year growth, up from just 3.4 million installs in Q1 2023. The leading apps in terms of downloads right now are ReelShort, Short TV and DramaBox.

While this may not match the dramatic 8,000% spike in consumer spending seen over the same period, it still highlights the momentum behind the short drama category. The numbers suggest that not only are audiences willing to spend more on this type of content, but a rapidly growing number of new viewers are discovering it for the first time.

Microdramas in the Longrun

There’s no doubt that short drama apps are red hot right now, but the real question is, what’s next? Microdrama production companies and platforms are emerging at a rapid pace, while traditional film and television players in the UK, USA, and Europe are also moving in to claim their share of this booming market.

In the UK there’s Sea Star Productions, in France we have StoryTV and in America ReelShort already has a strong presence. If you’d like to talk more about the vertical drama boom then Contact Us!