Less than a year old, the segment has drawn interest from broadcasters, OTT platforms, former real money gaming companies and production houses that see an opportunity to build new intellectual property. Key players in the microdrama market include Story TV, Bullet, Kuku TV, QuickTV and ReelSaga.
Saurabh Pandey, founder and CEO of Story TV, says microdramas have grown at a pace that OTT platforms never achieved. “This month alone, more than 550 microdramas are being shot in Mumbai. The combined annual run rate of the microdrama industry is already around $500 million.” He expects the market to reach $3 billion by 2028.
Story TV plans to scale aggressively and produce 1,000 microdramas by the end of FY26, which Pandey says would make it one of the largest microdrama producers globally. Platforms like Story TV also see a significant opportunity in regional language markets such as Tamil and Telugu. “We want Story TV to offer content in all the large language markets,” he says.
Bullet, Zee’s vertical video platform, launched with seven languages and an inaugural slate of more than 30 shows.
Microdramas are vertically shot, scripted stories told across multiple short, auto scrolling episodes. Unlike reels, they offer narrative progression without demanding long attention spans. Executives say microdramas are not competing with OTT platforms, but with Instagram Reels and other short video platforms.Azim Lalani, co-founder of Bullet, calls microdrama a natural upgrade from casual short video browsing. “Microdrama consumption will take time away from social media because the user wants emotional gratification with minimal commitment.”The shift, he says, is from snackable but forgettable clips to narrative driven content. “You are moving from user generated content to professionally generated content. These are connected reels.”
In terms of monetisation, platforms are avoiding OTT style subscriptions and adopting gaming style revenue models. Lalani says Bullet has skipped monthly plans. “We are not following a subscription model yet. We are using a closed wallet token system. It is a pay as you go model, almost like sachet pricing.”
Viewers watch the first few episodes free, then pay small amounts or watch ads to continue.
Budgets are much lower than OTT productions, enabling faster experimentation. Lalani says costs range from Rs 5 lakh for smaller titles to Rs 50 lakh for larger ones.
Pandey says typical budgets have moved into the Rs 10 lakh to Rs 30 lakh range, but generative AI is helping keep costs in check. “A lot of the editing, sound and high quality VFX on our shows is now being done through generative AI. AI will help keep production cost inflation under control,” Pandey says.
Microdramas have begun attracting known television actors because shoots typically wrap in three to five days, allowing them to take on multiple projects per month. “Actors like that the format brings them closer to audiences on the phone,” Pandey says.
Beyond the long form shows on its streaming app Kutingg, Balaji Telefilms is also betting on microdramas. In a recent interaction, Nitin Burman, Group Chief Revenue Officer at Balaji Telefilms, said the company has partnered with Story TV to produce and co-own a slate of microdramas, some exclusive to that platform and others available on both Story TV and Kutingg. Balaji is also creating content for WinZO and Zupee.
“There is huge demand in the market, but also a rush to produce quantity over quality,” Burman said. “Many are copying Chinese short dramas and making Indian versions. We want to do both quality and quantity.”
Microdramas typically run for about 60 to 70 minutes in total, spread across 30 to 35 episodes of around 90 seconds each. “The key is that every episode must end on a hook,” Burman noted. “That is what keeps audiences watching.”
Story TV is also introducing a nonfiction microdrama format in which real people narrate personal stories that unfold like scripted arcs. “These are reality stories told in the language of microdrama,” Pandey says.
