Chinese media The Paper reported that Weixin has recently released a new rule, adjusting the filing mechanism for micro dramas. Starting next Monday (27 May), micro dramas with a production cost of less than RMB300,000 will need to submit a report on the proportion of the cost allocation, and will be given a filing number after review.
Douyin has also recently issued a notice to short drama developers and authors that all short dramas that have been uploaded for broadcast before 30 May must prepare filing materials. Short dramas newly uploaded to the Douyin platform from 1 June onwards are required to fill in information including the report form on cost-allocation ratio and the remuneration commitment, and upload the information to the platform. Douyin will then send them in one go to the provincial broadcasting regulators for filing.
KUAISHOU-W (01024.HK) +1.250 (+2.197%) Short selling $466.91M; Ratio 23.617% meanwhile announced that from 11 June, it will audit the micro dramas operated on the platform, and micro dramas without a filing number will be banned from operating and promoting on the platform. Developers of existing micro-drama applets need to complete the connection to the audit system before 30 May.
(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2024-05-22 16:25.)
