Executive Summary
The Story So Far
Why This Matters
Who Thinks What?
China’s burgeoning micro-drama industry is transforming stalled real estate projects across the country into lavish film sets, creating a striking paradox between on-screen opulence and the ongoing distress of the property sector. This innovative repurposing, exemplified by an Evergrande project in Xingyang, Henan province, sees grand sales halls and unfinished luxury properties serving as backdrops for popular online series, even as frustrated homebuyers await the completion of their homes.
The Real Estate Backdrop
In Xingyang, a project by Evergrande, one of the world’s most indebted real estate developers, embodies this stark contrast. While construction outside remains idle, its opulent sales hall, complete with glittering chandeliers, is now a bustling production site for micro-dramas. This dual reality—lavish film shoots juxtaposed with uncompleted homes—is becoming a common sight across China as the micro-drama craze takes hold.
Micro-Drama’s Explosive Growth
The micro-drama industry has emerged as one of China’s fastest-growing entertainment sectors over the past two years. According to the China Television Drama Production Industry Association (CTDPIA), its market size surpassed 50.5 billion yuan (US$7.1 billion) in 2024. Projections indicate continued rapid expansion, with estimates reaching 63.43 billion yuan in 2025 and potentially 85.6 billion yuan by 2027.
The audience for these short-form dramas has also seen phenomenal growth, exceeding 660 million people nationwide in 2024. This widespread appeal, spanning from major tier-one cities to smaller towns, has led to micro-drama revenue surpassing national box office revenue for the first time this year.
A Symbiotic Relationship
The popularity of urban romance dramas, often set in luxurious office buildings and high-end apartments, has generated significant demand for upscale shooting locations. This demand has conveniently coincided with a period when stricter regulations and severe cash flow shortages have led to widespread delays and halts in commercial and residential property developments across China. The availability of these stalled, yet often visually impressive, properties thus offers a unique solution for production crews seeking authentic, high-end backdrops.
Economic Intersections
The phenomenon highlights a unique intersection of China’s economic challenges and its rapidly evolving digital entertainment landscape. It underscores how market dynamics can create unexpected opportunities, turning symbols of economic distress into vibrant production hubs for a booming cultural industry.
