Media Partners Asia projects that leading microdrama platform ReelShort will generate $1.05 billion in revenue in 2026, up 34%, and post its first meaningful profit at scale, according to a new report from the Singapore-based research firm.
The report, titled “ReelShort / Crazy Maple Studio: Inside the US$1B Micro-Drama Machine,” covers ReelShort’s financial trajectory through 2028 alongside the broader competitive landscape for microdrama outside of China, a category MPA sizes at $3.6 billion this year.
ReelShort’s revenue climbed from $97 million in 2023 to $400 million in 2024 and $785 million in 2025. After an estimated $12 million net loss last year, MPA projects $63 million of EBITDA and some $40 million of net profit in 2026. The firm expects those figures to keep climbing, with EBITDA reaching $306 million – an 18% margin – and net profit hitting $225 million by 2028, on revenue of $1.4 billion in 2027 and $1.7 billion in 2028.
MPA forecasts outside-China microdrama revenue overall will grow from $2.7 billion in 2025 to $3.6 billion this year and $9.5 billion by 2031, a 21% compound annual growth rate. The U.S. market alone is expected to more than double, from $1.5 billion to $3.7 billion, over that period, while Asia Pacific ex-China is projected to triple to $2.4 billion.
