Vertical Observer

The vertical-drama business, sourced

UPDATED 23 October 2026 216 REPORTS · 172 COMPANIES

Platform · China-domestic

iQIYI 微剧场 / 短剧场

Key facts

Operator / parent
iQIYI (NASDAQ: IQ), Baidu-affiliated
Origin
China
Headquarters
Beijing
Launched
September 2024
Category
Platform · China-domestic

iQIYI runs its short-drama business through the 微剧场 and 短剧场 strands and a standalone app, paying producers at least 70% of VIP revenue share and building AI tooling under the Nadou Pro brand. Management has described the effort as all in. Among Chinese platforms it ranks second on library depth. Group revenue was CNY 27.3bn in FY2025.

iQIYI 微剧场 / 短剧场 revenue and key figures

Reported revenue: per-title revenue share of CNY 30m for 《原罪》 (estimate, third-party estimate)

MetricFigureBasisSource
Revenueper-title revenue share of CNY 30m for 《原罪》estimatethird-party estimate
Revenuegroup revenue CNY 27.3bn in FY2025officialiQIYI filing
Usersheavy users tripled between December 2024 and April 2025no basis given—

Profile

Content
VIP revenue share of at least 70% to the producer; AI tooling (Nadou Pro).