CrowdWorks, Enters the Short-Form Content Market

AI tech company CrowdWorks is entering the short-form content market by leveraging its self-developed AI technology.

CrowdWorks announced on the 29th that it will supply AI-produced short-form drama content to the content platform ‘ShortMax’.

ShortMax is a short-form platform that holds over 2,000 short-form drama contents. It currently operates in 240 countries. As of April this year, it has recorded a total of 140 million views and over 50 million dollars in revenue.

The drama content supplied to ShortMax is filmed by domestic production companies. CrowdWorks participates in production by using AI technology-based tools to generate and edit subtitles in 12 languages. On the 21st, it supplied the first short-form content series, ‘Cheonyeo Yuhon’ (Virgin Ghost), consisting of 53 episodes to ShortMax. It became a trending video within five days of the streaming service launch.

The contract structure involves revenue sharing from the content generated on the platform. Significant sales growth is expected starting next year.

According to market research firm Statista, the global short-form market is expected to reach 40 billion dollars (approximately 56 trillion KRW) this year, with a projected compound annual growth rate (CAGR) of 60% over the next five years.

This is part of CrowdWorks’ strategy to diversify its revenue streams. This year, CrowdWorks expanded its business areas into new fields with high expected demand, such as ‘Industrial AI’ and ‘Consumer AI.’ Short-form content production is one of the Consumer AI businesses. CrowdWorks plans to provide customized AI and generative AI technologies to B2C service providers through the expansion of its Consumer AI business.

Kim Woo-seung, CEO of CrowdWorks, said, "Supplying short-form content is aimed at entering the rapidly growing short-form content market by utilizing AI technology and increasing sales in the Consumer AI business sector."