Are you one of the millions of people who paid $0.99 for an individual song on iTunes back in the pre-streaming era?
Maybe you’ve purchased an episode of a TV show you couldn’t find on any of the streaming platforms you pay for. Today, guest writer Sabah Gurmat reports on the microdrama industry in India, where viewers often pay by the episode for 2-minute-long microdramas on apps like Moj, ReelShort, and KuKuTV.
In this issue:
🌏 The size and potential of the microdrama industry
💳 A look at microdrama micropayments
✍ Six lessons creators can take from the microdrama industry
— Francis Zierer, Editor
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On the podcast this week, we spoke with Billy Parks, a venture partner on Slow Venture’s $60 million creator fund. We spoke about:
The two types of creator businesses
The biggest risk in creator investments
What makes an investable creator?
And more. Watch below or listen wherever you get your podcasts.

In India, a new economy of short-form microdramas
By Sabah Gurmat, a freelance journalist and writer based in Delhi, India.
Sitting in the New Delhi metro, my co-passengers' eyes are glued to their phone screens. Once upon a time, they’d be watching YouTube videos or series on Netflix and Indian streaming platforms like JioHotstar and SonyLIV.
Now, it’s likely they’re watching shows like Revenge of My Fake Boyfriend, a ‘show’ that boasts of 124 million views so far. Dubbed ‘microdramas’, these vertically shot, cliffhanger-packed episodes are typically under two minutes long. In India, a growing shift towards bite-sized reels and now serialized mobile-first dramas is changing the content economy and the country’s cultural landscape.
The success of global apps like ReelShort, which have racked up tens of millions of monthly active users with cliffhanger-heavy content, has also shown Indian entrepreneurs what’s possible. In a market where young audiences are far more likely to consume reels than long-form shows, microdramas represent a natural convergence of cultural appetite and technological habit.
India is a natural fit; there are 900 million internet connections, a mobile-first audience, and a melodrama-heavy culture already swept up by short-video apps. TikTok was used by nearly 200 million Indians before political tensions with China led to its ban in 2020.
Globally, industry forecasts project the microdrama market will surpass $10–13 billion by 2027–2030. Specifically in India, analysts estimate it will reach $5–10 billion over the next five years. And the numbers reflect this popularity. Indian microdrama platforms, such as Moj and ShareChat's ‘QuickTV’, are logging over 100 million microdrama episode views daily. Meanwhile, hybrid apps like Kuku TV have reported over 50 million downloads in six months and lead with 4.5 million paying users.

What lies behind a good microdrama, and how to keep audiences hooked?
In India, dozens of vernacular languages and dialects compete for attention; as a result, studios localize stories at source instead of having them dubbed and retailored for specific audiences later. Across dialects and languages, the most successful microdramas tend to lean into familiar tropes already popular in soap operas and classic TV dramas.
These include classic themes like will-they-won’t-they romances, revenge arcs, true crime, forbidden love, sudden reversals of fortune, or power struggles within families. Titles like Balaji’s Kaal Nagri (Death City) or global hits such as ReelShort’s How to Tame a Silver Fox succeed because they distill melodrama into its purest form: compressed tension and emotional stakes delivered in bite-sized beats. Given the compressed time frame that requires viewers to be hooked instantly, these stories are far from subtle; they are compulsively watchable.
Other successful examples of shows are those inspired by Chinese and Korean romance-dramas. Kuku FM’s Revenge of My Fake Boyfriend, for instance, is a slick, K-drama-style, vertical-format series that involves both class aspirations and romance. Each episode of the show deals with the story of a rich woman fake-marrying a self-made businessman, and the romantic tensions brewing between them. The episodes are mostly only about 2.5 minutes long, as are most of Kuku TV’s other microdramas.
Production is fast-paced, and entire seasons can be shot in a week or so, often on compact, multipurpose sets or even at home. There’s no need for fancy equipment; many resort to smartphones. Captions or subtitles are embedded for silent viewing; music and sound effects are used liberally. Today, artificial intelligence (AI) is increasingly employed for editing, dubbing, and even scripting.

Startups, studios, and the new economy of short-form
The ecosystem is already crowded with players. And each new production house or startup has devised innovative ways to monetize this. For instance, venture capitalists helped the fledgling Flick TV raise over $2 million to build what it calls a “microdrama OTT.” Meanwhile, the ReelSaga app is live on Google Play after securing a similar funding round. India’s famed soap-opera production house, Balaji Telefilms, has also ventured into this business and launched ‘Kutingg’, a microdrama vertical inside its ‘ALTT’ app. Here, viewers unlock episodes using a virtual coins-based wallet.
The business models reflect a blend of global short-video economics and more localized innovation. Instead of relying solely on subscriptions, platforms mix in-app purchases, coin economies (pay-per-episode unlocks), ad integrations, and performance-marketing funnels. Production costs are fractional compared to full-length television or OTT platforms like Netflix and Amazon Prime Video, yet advertisers see higher completion rates. The addictive nature of the bite-sized episodes also means audiences often pay to unlock new episodes faster.
Effectively, it’s an economy where creators, startups, and even legacy studios can all find their place, if done right. And while the ethical and artistic implications of AI spark concern, India’s microdrama platforms thrive by treating social media as the top of the funnel from the get-go. Instagram Reels and YouTube Shorts are where stories first hook audiences, while apps and coin economies serve as the place to monetize. By working with, not against, the grammar of social platforms, Indian companies are building an industry that feels native to how audiences already consume content.

What America can steal from India’s playbook

Structure matters: short episodes should open with a jolt, twist midway, and end on a cliffhanger.
Tight editing and volume over fancy production: Productions can be fast and scrappy; polish is less important than pace and volume.
Distribution must be native to social: First establish followership via platforms such as TikToks, Reels, or Shorts, and subsequently offer Patreon-style unlocks, or leverage Gumroad/app coins. Episodes should flow as a chain of reels, with monetization layered on top through Patreon, Gumroad, or app-based unlocks.
Localization also helps: If Indians tailor tropes to their linguistic regions, American creators can ground microdramas in American TV drama subcultures, be it high school cliques, dynasties, or workplace feuds.
Diversify revenue lines: Don’t rely on ad revenue like conventional TV shows; instead, convert the social traction and attention to coins, subscriptions, or brand deals. The Indian market shows how creators often earn more from brand work and coin conversions than raw platform ad shares.
Design for audience conversion: Work on the principle of serialized habit formation and craft episodes to gradually go from “free → paid”. Use hooks into episode arcs (for instance, tease a critical reveal or suspense-filled cliffhanger across the paywall), and convince viewers using low-friction pricing (less than $0.50 per episode, encouraging impulse buys) in such mass markets.
The model isn’t without challenges — rising user-acquisition costs and the risk of creative burnout persist — but momentum is undeniable. It’s no longer about length or the screen’s dimensions, nor the mode in which a series is shot; it’s now about rhythm, pacing, and platform. Microdramas are not a fad; they represent a new grammar of storytelling born in the doomscroll age.