At the end of last month, Kunlun Tech released its 2024 financial report, introducing two new revenue segments: "AI Software Technologies" and "Short Drama Platforms.” The latter proved particularly noteworthy, generating over RMB 167 million (approx. $23 million), accounting for 2.96% of total revenue. Among these, DramaWave, launched in the second half of 2024, received prominent attention. According to the report, by the end of March this year, the app had achieved an annualized revenue run rate (ARR) of approximately $120 million and surpassed 10 million monthly active users (MAUs), placing it among the top five players in the sector. Launched in September 2023, DramaWave entered a market already dominated by early movers such as ReelShort, ShortMax, and DramaBox, all […]