Bollywood has spent decades trying to make stories bigger. Bigger sets, bigger stars, bigger budgets and, more recently, cinematic universes that promise to turn individual films into sprawling franchises. But the industry's next big bet might just fit inside a smartphone screen.
In a development that signals how quickly entertainment consumption is changing, Aamir Khan Productions and Excel Entertainment are joining forces to launch a microdrama platform.
The venture, which has reportedly been in the works for some time, will bring together the existing intellectual property (IP) libraries of both production houses, original productions and exclusive partnerships with digital and YouTube creators. A prominent telecom player has also reportedly come on board to support distribution.
It is an interesting move, not least because it brings two established production banners into a format that, until recently, was largely associated with digital-first creators and specialised short-video platforms. But Aamir Khan and Excel Entertainment are hardly the first big names to recognise the opportunity.
Yash Raj Films (YRF) has already made a strategic investment in Rusk Media, Red Chillies Entertainment has launched its vertical storytelling division, Shoonya, while Karan Johar's Dharmatic Entertainment has also reportedly begun exploring the format.
From film studios to OTT platforms and television networks, the interest is growing. And there is a larger reason behind it. Microdramas are no longer being viewed simply as another way to make content for social media. For production houses, they could become a new way to discover stories, reach younger audiences, experiment with intellectual property and potentially create the next big entertainment property without first committing the kind of money required for a theatrical film or a premium streaming series.
So, what exactly is making Bollywood's biggest players look at stories that last barely a couple of minutes?
First, What Exactly Are Microdramas?
Imagine watching a web series, except each episode lasts between one and two minutes, the entire story is shot vertically, and every instalment ends with a twist that makes you want to watch the next one. That, essentially, is the idea behind microdramas.
Designed primarily for smartphone viewing, these are scripted, episodic stories that borrow the addictive quality of social media reels while retaining the narrative continuity of television shows and web series. Romance, revenge, family feuds, betrayal, suspense and supernatural twists are among the popular themes. The storytelling is deliberately fast-paced, with cliffhangers and dramatic reveals doing much of the heavy lifting.
Unlike Instagram reels or YouTube Shorts, which can be standalone videos, microdramas have a continuing storyline. A viewer might discover the first episode while scrolling through social media, only to find themselves following an entire series through a dedicated platform.
The format originated in China, where it developed into a sizeable entertainment business before spreading to markets such as the US and Southeast Asia. India, too, has begun embracing it, with platforms such as Kuku TV, Story TV, MX Fatafat and JioHotstar's Tadka building audiences around bite-sized fiction.
Interestingly, this is not simply about audiences having shorter attention spans. It is also about entertainment finding a place in the smaller pockets of time that conventional films and series cannot always occupy.
As Kunj Sanghvi, then vice-president of Kuku, explained to The Hollywood Reporter India, the platform noticed audiences consuming content during lunch breaks, commutes and the gaps between everyday tasks. The company realised that microdramas could cater to these otherwise underutilised viewing moments.
That shift in viewing habits is precisely what established studios are beginning to pay attention to.
Aamir Khan x Excel Entertainment: A New Screen For Established Storytellers
The latest development involving Aamir Khan Productions and Excel Entertainment is particularly significant because of the combination of creative resources involved.
The proposed platform is expected to bring together the companies' existing IP libraries while also developing original stories specifically for the microdrama format. It is also looking at exclusive partnerships with prominent digital and YouTube creators, allowing the venture to tap into audiences that these creators have already built online.
The reported involvement of a telecom partner is another important part of the strategy. Distribution can make or break a mobile-first entertainment platform, and access to a wider telecom subscriber base could give the venture an advantage in reaching audiences beyond the usual OTT demographic.
What makes the collaboration interesting is its proposed emphasis on professionally produced, premium content. The intention appears to be to move beyond the perception of microdramas as inexpensive, exaggerated social-media fiction and bring a more organised production approach to the format.
For Aamir Khan Productions, which has built its identity around films such as Taare Zameen Par, Dangal and Laal Singh Chaddha, this represents an opportunity to explore a different kind of storytelling and distribution. For Excel Entertainment, known for projects ranging from Dil Chahta Hai and Rock On!! to Mirzapur and Made In Heaven, this opens another avenue to develop and distribute scripted content.
The venture also raises an interesting possibility: could stories that begin as two-minute episodes eventually find a much larger life as films or streaming series? While the companies have not outlined such a strategy, the format offers an opportunity to test characters, premises and audience interest before taking a story into a more expensive medium.
Further details about the platform's name, launch date, initial content slate and monetisation plans are awaited.
YRF, Red Chillies And Dharma: The Race Is Already Underway
Aamir Khan Productions and Excel Entertainment's entry may be the latest development, but other established production houses have already started positioning themselves in this space.
Yash Raj Films: One of the biggest moves came from YRF, which made a strategic investment in digital-first entertainment company Rusk Media in June 2026. The partnership will see YRF oversee the creative direction of original animation and vertical microdrama intellectual property, while Rusk Media handles production and distribution through its Alright! TV platform and global digital channels.
Reports have also put YRF's planned investment in microdrama content at around Rs 150 crore over the next few years. Interestingly, the initial focus is on creating original properties rather than adapting existing YRF film franchises.
YRF CEO Akshaye Widhani told The Economic Times that the move was not a departure from the company's theatrical ambitions but a natural extension of its vision. "The world's best studios evolve with changing audience behaviours. They don't define themselves by formats or screens. They define themselves by great storytelling, taking compelling stories to audiences wherever they choose to engage," he said.
Rusk Media CEO Mayank Yadav also identified an opportunity beyond simply attracting viewers. According to him, vertical entertainment in India has generated extraordinary reach but has yet to produce the kind of enduring intellectual property that defines a category. Building those properties is the gap the partnership hopes to address.
That is a revealing statement. For YRF, the objective is not necessarily to make a shorter version of a film. It is to create original stories that can establish their own identity in a new entertainment category.
Red Chillies Entertainment: Shah Rukh Khan's production house has also entered the vertical storytelling space with Shoonya, a division focused on developing content for the format. While detailed information about its programming and rollout remains limited, its entry is significant given the studio's experience in film production, visual effects and large-scale entertainment.
Red Chillies' move also underlines how vertical storytelling is attracting companies that have traditionally operated in very different parts of the entertainment business. The opportunity is no longer limited to digital-native production houses.
Dharmatic Entertainment: Karan Johar's digital content arm has reportedly been exploring microdramas as well. A report by Mid-Day in April 2026 stated that Dharmatic Entertainment was venturing into vertical dramas and was likely to collaborate with Amazon MX Player. According to the report, work on the format had already begun, with the intention of bringing the production house's distinctive storytelling and visual sensibility to shorter content.
However, the proposed Amazon MX Player association has not been independently confirmed, and the reported plans should not be confused with a formally announced platform launch.
The larger picture is hard to miss. Production houses that once competed primarily for theatrical releases and streaming commissions are now exploring a format that puts stories directly into the hands of mobile audiences.
It Is Not Just About Shorter Episodes. It Is About Finding The Next Big Story
Here is where the business becomes particularly interesting.
A theatrical film requires a substantial investment, a lengthy production process and a marketing campaign that can run into crores. Even a premium streaming series involves considerable development, casting, production and post-production costs. And despite all that, there is no guarantee that audiences will connect with the final product.
Microdramas Offer A Relatively Inexpensive Way To Experiment.
A studio can develop several short stories across genres, introduce different characters and observe how viewers respond. Are audiences completing the episodes? Are they returning for the next instalment? Which characters are being discussed? Which storylines are generating shares and repeat views?
These signals can help production houses understand what is resonating with viewers before committing to a much bigger project.
Think of a suspense thriller that begins as a 30-episode vertical series. If its characters and premise generate sustained interest, the production house could consider developing the same universe into a longer streaming show. Similarly, a romantic drama that finds an audience could potentially be expanded into a larger property.
This does not mean that every successful microdrama will become a film or a franchise. Nor have the studios publicly committed to such a model across their upcoming projects. But the possibility of developing and testing stories at a smaller scale is clearly part of the format's appeal.
Sanghamitra Khatu, founder of The Tribal Box, told Business Standard that microdramas give studios a relatively inexpensive opportunity to experiment with stories, characters and formats before making much larger investments.
The logic is straightforward: instead of putting all their money behind one big story, production houses can explore several ideas and identify the ones that audiences actually want to follow.
It is also a way to build intellectual property rather than depend entirely on commissioned projects. A successful story or character can potentially have a life beyond its original format, giving the studio more opportunities to develop and monetise it.
As filmmaker Kushal Srivastava told Exchange4Media, owning a share in intellectual property is important because it can continue generating value beyond the original project. He compared IP to property, pointing out that sequels become easier to develop when an audience already exists for the original story.
For studios, microdramas could become one way of discovering that audience.
The Creator Economy Is Another Big Attraction
The entry of Aamir Khan Productions and Excel Entertainment also highlights another important aspect of this emerging format: the growing relationship between established production houses and digital creators.
YouTube and social media personalities have spent years building loyal communities around their content. Some have audiences that rival those of established television personalities. However, their storytelling has largely been associated with individual videos, sketches, lifestyle content and creator-led entertainment.
Microdramas offer an opportunity to take that audience engagement into scripted, episodic storytelling.
This explains why the upcoming Aamir Khan-Excel venture is reportedly exploring exclusive partnerships with digital and YouTube creators. Rather than building an audience entirely from scratch, the platform can potentially bring creators and their existing fan bases into its ecosystem.
For creators, the opportunity is equally significant. It allows them to explore acting, writing, producing and developing original characters within a more structured production environment.
The arrangement could also work in the other direction. Established studios bring production infrastructure, experienced writers, directors, technicians and marketing capabilities, while creators bring familiarity with internet culture and an understanding of what makes audiences stop scrolling.
Anuj Gosalia, founder and CEO of Terribly Tiny Tales, told ThePrint that what was largely experimental 12 to 18 months earlier was becoming an organised category, with dedicated verticals, apps and creator ecosystems emerging around it.
He also pointed to the format's natural fit with platforms such as Instagram, describing microdramas as vertical, fast, repeatable and shareable.
That combination of professional storytelling and creator-led reach could become one of the defining features of the next phase of mobile entertainment.
OTT Platforms Are Not Sitting This One Out Either
The microdrama conversation is no longer restricted to production houses. Streaming platforms and broadcasters have also started carving out space for shorter, mobile-first storytelling.
JioHotstar launched Tadka in April 2026, while ZEE5 introduced Bullet in July 2025. Amazon Prime Video launched Fatafat in March 2026, and Balaji Telefilms launched Kutting in January 2026. These developments indicate that platforms are increasingly looking beyond conventional films and long-form series to keep audiences engaged.
The move makes sense from a viewing perspective. A subscriber may not always have the time or inclination to sit through a 45-minute episode, but a short scripted story can fit into a commute, a lunch break or a few minutes of downtime.
There is also a discovery advantage. Social media clips can introduce viewers to a storyline, while the full episodic experience encourages them to move to the platform hosting the series.
According to a report by ThePrint, JioHotstar's Tadka has seen considerable interest from younger viewers, with more than 42% of its viewership coming from audiences below 24. The platform also reported that nearly 40% of its watch time came from Tier 2 cities and beyond.
The appeal, therefore, is not restricted to metropolitan audiences or a particular age group. Regional-language storytelling and mobile-first distribution could make the format accessible to a much wider audience.
And for OTT platforms already competing for subscribers and viewing time, microdramas offer another way to keep people within their entertainment ecosystems.
The Money Question: Is The Format Actually Profitable?
For all the excitement surrounding microdramas, there is one question that the industry has not entirely answered: can the format make sustainable money?
The audience is certainly growing. According to Lumikai's State of India Interactive Media Report 2025, India's microdrama market generated approximately $300 million in 2025 and had around 100 million monthly active users. The report projects that the market could reach $4.5 billion by 2030.
However, a large audience does not automatically translate into a profitable business.
Microdrama platforms typically make money through subscriptions, paid episode unlocks, virtual coins, advertising and brand integrations. Some offer viewers a few free episodes before asking them to pay to continue watching. Others experiment with advertising-supported viewing.
The challenge is that Indian audiences are already accustomed to consuming an enormous amount of free content through Instagram Reels, YouTube Shorts and other social platforms. Convincing them to pay for another entertainment subscription is not necessarily easy.
Director and producer Karan Kashyap, who has worked on films such as Dil Chahta Hai, Lakshya, Don and Saathiya, has also entered the microdrama space. Speaking to Business Standard, he expressed reservations about the business model, saying he did not see any major microdrama platform in India operating profitably at present.
He also pointed out that platforms tend to highlight downloads and audience numbers, while questions around paying subscribers, user retention and actual profitability receive less attention.
There is another concern. The very thing that makes microdramas attractive to studios could eventually become their biggest challenge. If production houses begin bringing in expensive actors, elaborate sets and large production crews, the costs could rise considerably. The format's advantage of being relatively inexpensive would then begin to disappear.
The question is how to maintain production quality without making every short-form series as expensive as a conventional television or streaming production.
Can Brand Partnerships Give Microdramas Another Revenue Stream?
One area that could offer considerable potential is branded entertainment.
Instead of interrupting a story with a conventional advertisement, brands can become part of the narrative itself. A character could use a particular product, a brand could sponsor an entire series, or a storyline could be developed around a product without making the integration feel like a traditional commercial.
Companies such as Flipkart, Tata Motors Commercial Vehicles and JK Super Cement have already experimented with integrating brands into scripted short-form stories.
For advertisers, the attraction is fairly obvious. A conventional advertisement might receive a few seconds of attention before a viewer scrolls past it. A well-made episodic story, however, can encourage the same viewer to return repeatedly, creating more opportunities for brand visibility.
Diwaker Chandani, managing partner at creator marketing agency Influential India, told Mint that spending on microdramas had been increasing over the past one to two years, driven by repeat engagement, vertical video and brand-funded storytelling.
However, he also cautioned that the market remains in a test-and-learn phase, with stronger measurement needed to establish its actual business impact.
For studios, this opens up another possibility. Microdramas need not rely entirely on viewers paying for every episode. Brand partnerships and advertising could become important parts of the revenue model, particularly in a market where free content is already abundant.
A New Storytelling Format Or Another Content Bubble?
There is no denying that microdramas have found an audience. But whether they can establish themselves as a sustainable entertainment category is a different question.
The format comes with its own creative challenges. When every episode is expected to end with a cliffhanger, there is a risk that storytelling becomes overly dependent on twists, exaggerated conflicts and dramatic reveals. Characters can become one-dimensional, and narratives can sacrifice emotional depth for the sake of keeping viewers hooked.
The Indian microdrama space has also faced criticism over repetitive storylines and the tendency to replicate successful formats rather than experiment with original ideas.
But this is precisely where established production houses could make a difference. Studios with experience in developing films and long-form series have access to writers, directors, actors and creative teams who understand the importance of character development and narrative structure.
The challenge will be to adapt that experience to a format that demands a completely different storytelling grammar. A film cannot simply be chopped into 60-second episodes and expected to work. As KukuTV's Sachin Singh told The Hollywood Reporter India, the platform realised that converting existing films into vertical content was not enough; the storyline and structure had to be specifically developed for the format.
That distinction matters. Microdramas need their own creative identity rather than becoming condensed versions of conventional television or cinema.
And perhaps the biggest test for these studios will be whether they can create stories that audiences remember beyond the next swipe.
Bollywood's Next Big Story Might Begin On A Smartphone
For years, the entertainment industry has treated theatrical cinema, television and OTT as distinct spaces, each with its own audience and storytelling expectations. Microdramas are now adding another dimension to that ecosystem.
Aamir Khan Productions and Excel Entertainment's proposed venture, YRF's partnership with Rusk Media, Red Chillies Entertainment's Shoonya and Dharmatic Entertainment's reported interest all point towards an industry that is becoming increasingly open to experimenting with formats.
It would be premature to suggest that microdramas are going to replace films or web series. A two-minute vertical episode cannot offer the same cinematic experience as watching a film in a theatre, nor does it need to. The format is catering to a different kind of viewing habit.
What it can offer is an additional space for storytelling, a relatively inexpensive way to experiment with new ideas and an opportunity to reach audiences who might not necessarily discover a production house through its theatrical releases.
For Bollywood's big studios, the attraction is perhaps not just in making shorter stories but in discovering which stories deserve to become bigger.
And if the next successful film franchise, streaming series or breakout character first finds its audience through a series of 90-second episodes, the industry's current fascination with microdramas might look less like a passing trend and more like a very calculated move.
After all, in an industry where everyone is constantly searching for the next big story, it might be worth finding out what audiences want to watch before spending crores telling it.
