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| “We’re Running on Hit Dramas”: Ningmeng Pictures Boss Warns of TV Industry Meltdown |
The Chinese drama scene might look lively on the surface, but according to Su Xiao — Chairman of Ningmeng Pictures, the company behind hits like Nothing But Thirty, Reset, and The Knockout — things aren’t as rosy as they seem.
Speaking at the 8th Youth Audio-Visual Exhibition in Beijing on October 10, 2025, Su dropped a reality check during his keynote session, “New Opportunities and Challenges for the Industry After the ‘SARFT 21 Points’ Policy.”
He pointed out that the apparent “stability” of China’s drama market is an illusion, heavily reliant on the occasional viral success.
“The market looks steady, but that stability is built entirely on big hits. Without them, audiences lose interest — and everything falls apart quickly,” Su said.
Su presented data showing that the number of breakout dramas has sharply declined compared to last year.
While recent titles like Legend of Zang Hai (藏海传), This Thriving Land (生万物), and Love’s Ambition (许我耀眼) managed to gain decent traction, none reached the explosive popularity of earlier blockbusters.
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That’s a major concern, considering that big hits have been the financial backbone of the industry for years.
The once-booming ecosystem that thrived on a few major successes each year is now struggling to produce shows with the same cultural pull or platform revenue.
Perhaps the most worrying part of Su’s talk came when he addressed the funding drought currently gripping the drama sector.
He revealed that investors are increasingly hesitant to back new projects, causing delays across multiple productions.
“Capital is drying up. Investors are becoming cautious, and that directly affects how fast — or whether — projects move forward,” he explained, according to Sohu’s report.
In contrast, Su noted that the film industry remains far more attractive to investors, largely because of its more direct “to-consumer” business model and higher earning potential.
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Su compared both industries bluntly:
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Top TV dramas in China can make around 1–2 billion yuan,
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While blockbuster films can easily pull in 10 billion or more in total revenue.
He also cited examples of previous high-performing series like The Knockout (狂飙), Joy of Life 2 (庆余年2), and Blossoms Shanghai (繁花) — each crossing the billion-yuan mark in platform revenue.
But this year? Not a single show has reached that milestone.
Su Xiao’s remarks serve as a wake-up call for China’s entertainment sector.
Between the lack of major hits, decreasing investment, and rising production costs, the country’s drama ecosystem is showing cracks beneath its glossy exterior.
His message was clear: creators and studios need to rethink how they attract both audiences and capital.
Innovation, tighter storytelling, and smarter marketing might be the only way to keep the lights on — and ensure Chinese dramas don’t fade from the spotlight altogether.