Venture capitalists and startups convened at the Conrad Beijing hotel in mid-December, looking to exploit the newest phenomenon in Chinese media: the mini soap opera.

Unlike traditional TikTok clips, which often revolve around goofy challenges or lip-syncing dances, mini dramas are professionally produced series for the web, with clear storylines and big cliffhangers. Clips run just 60 to 90 seconds and a series can span more than 50 episodes.

"The Double Life of My Billionaire Husband," one of the industry’s biggest hits of 2023, takes all of 100 seconds to tell the story of a woman who was forced into a marriage with a "loser and an ex-con” in order to pay her mother’s medical bill.