Analysis of Premiumization Trends and Key Technical Indicators in the Short Drama Market

According to collected industry data and market analysis reports, I systematically sorted out the key technical indicators indicating the content premiumization trend in the 100-billion-scale short drama market for you:

• The mini-program short drama market size in 2023 was approximately 30 billion yuan, with MAU reaching 300 million users
• The long-term market size is expected to reach 100 billion yuan, and the ARPU value is expected to increase from the current 100 yuan per person per year to 200-300 yuan per person per year [1]

Indicator	Current Level	Premiumization Signal
Payment Rate	0.3%-1% (Douyin Mini Program: 0.3%-0.5%, WeChat Mini Program: 0.7%-1%)	Rising to the level of long-form video platforms (20%-27%) [1]
ARPU Value	About 100 yuan per person per year	Increasing to 200-300 yuan per person per year
Repurchase Rate	Significant growth with content quality improvement	Repurchase rate of premium content is significantly higher than ordinary content
Hit Rate	Concentration of top content increases	ROI of high-quality content can reach above 1.1

• Completion Rate
  : The completion rate of premium short dramas is significantly higher than ordinary content, which is a core indicator to measure content attractiveness
• User Duration
  : The continuous growth of daily average viewing duration per short drama user indicates an increase in content attractiveness
• Retention Rate
  : The next-day/7-day retention rate of users for high-quality content is significantly higher

• Growth in Number of Creators
  : As of June 2023, Kuaishou short drama creators exceeded 130,000, with 2,768 authors having over 1 million followers
• Surge in Filing Quantity
  : Since April 2023, the monthly filing number of micro-short dramas has increased from less than 50 to over 200, among which the proportion of premium profit-sharing short dramas with about 20 episodes has increased significantly [1]
• Increase in Production Costs
  : The production cost per premium short drama has increased from tens of thousands of yuan to hundreds of thousands or even millions of yuan

Shift from a single payment model to a hybrid monetization model:

• Payment Model
  : Pay-per-view → Membership subscription system
• Free Model
  : The “free viewing + advertising monetization” model is rising rapidly
• Platform Differentiation
  : Dual-track development of mini-programs (decentralized traffic) and APPs (brand operation)

• Theme Diversification
  : Expanding from single themes like “domineering CEO” and “sweet romance” to diverse themes such as suspense, sci-fi, and history
• Production Professionalization
  : Professional film and television institutions enter the market, and production standards are aligned with long-form videos
• IP Valorization
  : The proportion of adaptations from online literature IP increases, and content systematicness is enhanced

• User Coverage Expansion
  : Expanding from the core group of 31-40 years old to younger groups and higher-tier cities
• Increased Payment Willingness
  : Users’ willingness to pay for premium content has significantly increased
• Brand Awareness Establishment
  : Brand awareness of top short drama platforms has increased

• ROI Level
  : The average streaming ROI of the industry is about 1.1, and the ROI of premium content is significantly higher
• Content Homogenization Degree
  : The increase in the proportion of differentiated content indicates a premiumization trend
• Compliance Rate
  : Under stricter regulation, the proportion of compliant content reflects the degree of industry standardization

• Overseas Market Expansion
  : The revenue potential of short dramas going overseas is huge, and the global market is expected to reach 100 billion US dollars [2]
• User DAU Ceiling
  : The theoretical upper limit of short drama DAU is between TikTok and Netflix
• Monetization Efficiency
  : The monetization efficiency per user (ARPU) of short dramas is expected to surpass the Netflix model

[1] Soochow Securities - Media Industry In-depth Report: “In-depth Analysis of the Short Drama Industry: Leading the Transformation of Content Production Models” (December 2023)
[2] Soochow Securities - Media Industry In-depth Report: “Short Dramas Going Overseas: Beyond Being a ‘Netflix Alternative’” (July 2025)

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: The short drama market is transitioning from barbaric growth to premiumization. Key monitoring indicators include increased payment rate, growth in ARPU value, improved completion rate, enhanced professionalism of creators, and diversification of business models. The continuous optimization of these indicators will drive the industry scale to 100 billion yuan, while improving overall content quality and user experience.