- Mega Matrix's subsidiary Yuder signs a non-binding MOU with Snail Games for joint short-drama development.
- The global mini-program short drama market is projected to grow from $5.66 billion in 2024 to $25.68 billion by 2032.
- The parties aim to finalize a definitive agreement within 45 days.
Mega Matrix Inc. (MPU, Financial) has announced that its subsidiary Yuder Pte. Ltd. has entered into a non-binding, non-exclusive Memorandum of Understanding (MOU) with Interactive Films, a subsidiary of Snail Games (SNAL), to jointly develop, produce, and distribute short dramas. This collaboration intends to integrate Mega Matrix's established production and distribution capabilities with Snail Games' expertise in artificial intelligence and interactive technologies.
The market for mini-program short dramas is anticipated to experience significant growth, expanding from $5.66 billion in 2024 to $25.68 billion by 2032, reflecting a compound annual growth rate (CAGR) of 20.81%, according to WiseGuyReports. North America alone is expected to generate $1.89 billion in revenue by 2024, driven by the increasing demand for short-form content.
This partnership marks a strategic move for both companies as they leverage their strengths to delve into the burgeoning short-drama market. Mega Matrix aims to enhance its content portfolio by combining its distribution prowess with Snail Games' cutting-edge AI technology, potentially creating engaging short dramas that resonate with global audiences.
The MOU outlines plans to focus on creative direction, script development, production, and the global distribution of short-form dramas across North America, Southeast Asia, and other regions. With a definitive agreement expected within the next 45 days, both Mega Matrix and Snail Games are preparing to capitalize on the growing consumer appetite for serialized, binge-worthy content.
