LayarHijau – On the morning of October 10, 2025, the 8th Youth Audio-Visual Exhibition officially opened in Beijing. During the session titled “Annual Answers from Industry Leaders,” a key figure in China’s drama sector, Su Xiao, delivered a keynote speech on “New Opportunities and Challenges for the Industry After the ‘SARFT 21 Points’ Policy.”
Su Xiao is the Chairman of Ningmeng Pictures, one of China’s most influential television production companies, known for hit dramas such as Nothing But Thirty, Reset, You Are My Hero, and The Knockout. He is also an active member of several official industry forums, including the China TV Drama Production Industry Association, which makes his views highly representative of the overall state of China’s drama industry.
In his speech, Su Xiao stated that while the drama market appears relatively stable, such stability depends entirely on the continued emergence of hit series. “The market seems stable, but that stability relies on the appearance of blockbusters. Without them, audiences will drift away, and temporary stability will quickly vanish,” he said.
He also presented data showing that the number of popular dramas this year has dropped sharply compared to the previous year. Although titles such as Legend of Zang Hai (藏海传), This Thriving Land (生万物), and Love’s Ambition (许我耀眼) have achieved notable influence, none has reached the level of a nationwide sensation.
Furthermore, Su Xiao revealed that the drama industry is now facing a severe funding shortage. Investor enthusiasm for financing drama projects and production companies has decreased significantly. “Funding is getting harder to secure, and many projects have been delayed as investors hold back,” he explained as reported by Sohu.
Unlike the film sector—which still attracts capital thanks to its direct-to-consumer (TOC) business model—television dramas have a much lower commercial ceiling. According to Su Xiao, the maximum revenue potential for dramas is only around 1–2 billion yuan, while films can reach well over 10 billion. In past years, hit dramas such as The Knockout (狂飙), Joy of Life 2 (庆余年2), and Blossoms Shanghai (繁花) generated more than 1 billion yuan in platform revenue, but so far, no 2025 release has matched that level.
Su Xiao’s remarks highlight the harsh reality facing China’s drama industry: a decline in hit productions, shrinking financial pipelines, and mounting production risks. As the market evolves, creators and companies alike are being pushed to find new ways to sustain audience interest and ensure long-term survival.
