How JioHotstar’s micro-drama entry could squeeze ShareChat and Moj

New Delhi: JioStar’s planned entry into micro-dramas could accelerate the shift of short-format scripted storytelling from a niche experiment to a scaled, advertiser-friendly product, even as it tightens the competitive ring around homegrown social and short-video platforms such as ShareChat and Moj.

Industry tracking firm Redseer Strategy Consultants has estimated the micro-drama segment at an annual run rate of about $260 million as of November 2025, with growth nearly doubling in the span of two months.

The inflection matters because micro-dramas sit inside a wider “interactive media” ecosystem that includes social discovery, audio, devotional and astro-tech, as well as AI companion products.

Redseer estimates that the broader market could reach $3.1–$3.4 billion by FY2030, with micro-dramas projected to be the fastest-growing segment at a 50–75 per cent CAGR between FY25 and FY30.

For ShareChat and Moj, the immediate risk is not the existence of the format. Both platforms have been pushing micro-dramas and episodic content. The risk is that a scaled, mass-market OTT distribution layer could change how advertisers and creators allocate time and budgets.

ShareChat and Moj have historically competed by combining vernacular community feeds, creator-led short video and ad monetisation. Micro-dramas demand a different operating rhythm. They require higher production cadence, tighter scripting, repeat viewing hooks and a steady supply of cliffhangers, while still keeping costs low enough to make the unit economics work at scale.

The micro-drama opportunity is, however, too large for them to ignore. Mohalla Tech, the parent of ShareChat and Moj, has been attempting to bend its cost curve while building monetisable content lines. In FY25, the company reduced its adjusted EBITDA losses sharply even as revenue growth remained muted, according to a Financial Express report.

In the same results commentary, the company indicated that micro-dramas were already seeing meaningful consumption on its platforms, with tens of millions of monthly viewers and very high daily episode views. That signals the format has moved beyond pilot behaviour into habitual usage.

Where the battle could tilt is distribution and “default reach”. JioStar’s advantage is not only marketing muscle, but also the ability to mainstream micro-dramas inside a large OTT consumption funnel, where users already arrive with a viewing mindset and higher tolerance for serialised content.

JioHotstar is preparing a micro-drama rollout by early 2026, aimed at scaling the format quickly on its app.

If that plays out, ShareChat and Moj may have to answer a tougher question from advertisers: why should a brand pay a premium for micro-dramas on a social or short-video ecosystem if the same format is now available inside an OTT environment with stronger control over placement, adjacency and targeting?

At the same time, the category faces constraints that could create openings for incumbents who understand the production and distribution mechanics. Redseer has flagged early signs of content fatigue in the segment, including repetitive storylines, uneven quality and slower refresh cycles. That suggests supply-side discipline and content velocity could become the differentiators, not pricing alone.

That is a window for ShareChat and Moj to strengthen their pitch as platforms built around vernacular demand and repeat viewing behaviour, rather than as generic short-video inventory.

Redseer has also indicated that micro-drama adoption is currently concentrated in metros and Tier-1 markets, and skewed towards men in the 25-45 age group, an audience bracket advertisers chase aggressively.

For a player like ShareChat, which built scale on language-first communities, the next phase may be about pushing micro-dramas deeper into Tier-2 and Tier-3 usage, with lighter experiences, better performance on low bandwidth, and engagement loops that translate viewership into predictable monetisation.

The bigger risk is strategic drift. ShareChat has been through repeated cost-cutting cycles and leadership churn in recent years, including layoffs aimed at reducing burn and narrowing focus.

The company’s challenge is to avoid spreading itself thin across too many content bets while micro-dramas enter a phase where quality control and refresh cycles become non-negotiable.

JioStar’s move also forces smaller and mid-sized platforms, including social and gaming-led apps experimenting with scripted short content, to decide whether they want to compete head-on in micro-dramas or specialise in adjacent formats.

If the Redseer growth curve holds, and if the content supply side stabilises, micro-dramas could become one of the most contested “new TV” battlegrounds in India’s digital entertainment economy over the next 12-18 months.