What's Happening?
The Future Is Vertical conference in Seoul, organized by Crisp, focused on the global rise of short form media, particularly microdramas. Industry leaders discussed the impact of games and web novels on short form drama,
highlighting the cost-effectiveness and rapid production timelines compared to traditional media. The conference attracted stakeholders from America, Europe, and Asia, emphasizing the potential for global market expansion. Discussions included the role of AI in reducing production costs and the importance of engaging narratives in retaining audiences. The event underscored the growing interest in short form content as a viable entertainment format.
Why It's Important?
The conference highlights the increasing significance of short form media in the global entertainment industry, with projections of reaching $26 billion in revenues by 2030. This format offers new opportunities for independent creators and smaller studios to produce content with lower budgets and faster turnaround times. The discussions on AI's role in production suggest potential shifts in how content is created and consumed, impacting traditional media models. The focus on global market expansion indicates a shift towards more diverse and accessible content, potentially reshaping audience engagement and consumption patterns worldwide.
Beyond the Headlines
The rise of microdramas and short form media could lead to significant changes in content creation and distribution, challenging traditional Hollywood structures. The emphasis on cost-effective production and global market potential may encourage more diverse storytelling and innovative formats. As AI technology becomes more integrated into production processes, ethical considerations regarding its use and impact on creative industries will likely emerge. The conference also highlights the potential for short form media to democratize content creation, allowing more voices and perspectives to be represented in the entertainment landscape.
