Vertical Observer

The vertical-drama business, sourced

UPDATED 23 October 2026 216 REPORTS · 172 COMPANIES

App · Global (China-origin)

ReelShort

Key facts

Operator / parent
Crazy Maple Studio; COL Group holds 49.24% (SZSE 300364)
Origin
China
Headquarters
Sunnyvale, United States
Launched
August 2022
Category
App · Global (China-origin)

ReelShort is a vertical-drama app operated by Crazy Maple Studio, a US-based studio in which the Shenzhen-listed COL Group holds 49.24%. It sells coin packs and in-app purchases and offers ad-unlocked episodes, with the United States supplying most of its revenue. Sensor Tower ranked it first by revenue for 2024 and for the first quarter of 2025, and second, behind DramaBox, in the first quarter of 2026. On 14 July 2026 it announced a partnership with WWE.

ReelShort revenue and key figures

Reported revenue: CNY 5.72bn (about $805m) FY2025, +97% (official, Crazy Maple Studio parent filing)

MetricFigureBasisSource
RevenueCNY 5.72bn (about $805m) FY2025, +97%officialCrazy Maple Studio parent filing
In-app purchase revenue$130m in Q1 2025estimateSensor Tower
Downloadsabout 71.4m in FY2024estimateDiandian
Downloadscumulative 50m+; a separate count of about 120m worldwide also circulates, and the two are not reconciledno basis given—
Monthly active users50-55mestimatethird-party estimate
Monthly active usersmore than 70m, claimed 14 July 2026companyReelShort
Time spent35.7 min/dayestimateOmdia; the same figure is also credited to Adjust × Sensor Tower
Revenue per downloadabout $2.59; the United States accounts for about 69% of revenueestimatethird-party estimate

Profile

Markets
United States-led, at about 49-69% of revenue, and global. Germany is served in German through reelshort.com/de, German app-store listings and the German-language YouTube channel @reelshortapp-de. The company claimed more than 100 countries on 14 July 2026.
Content
Original and licensed live action; AI-assisted production.
Genres
Werewolf and alpha romance, billionaire and CEO, revenge.
Monetisation
Coins and in-app purchases; ad-unlock.
Profitability
Not profitable. Crazy Maple posted an FY2025 net loss of more than CNY 85m, per parent filings.
Backers
COL Group; Crazy Maple Studio. The parent is listed on the Shenzhen Stock Exchange.

People

  • Joey Jia — Founder and CEO, Crazy Maple Studio (founded 2017)
  • Tong Zhilei (童之磊) — Founder, Chairman and CEO, COL Group (中文在线), which holds about 49% of Crazy Maple Studio as an equity-method associate

Sources

Corrections and updates

Correction, : The profile gave Beijing as the seat of control over ReelShort. COL Group's filings account for Crazy Maple Studio, ReelShort's operator, as an equity-method associate with 49.24% of the equity, not as a controlled subsidiary.

Update, : The profile called ReelShort the largest microdrama app in Western markets by revenue. Sensor Tower ranked it first by revenue for 2024 and for the first quarter of 2025, and second, behind DramaBox, in the first quarter of 2026.