My Drama: The Future of Interactive Storytelling with AI Characters
The rise and fall of Quibi, the short-form video streaming service, left many wondering what went wrong. However, one startup believes that the missing ingredient in Quibi’s formula was the absence of AI characters. My Drama, a new short series app developed by Holywater, is set to revolutionize the streaming industry with the introduction of AI-powered chatbots that allow viewers to interact with the characters in depth.
My Drama has quickly gained traction since its launch in April, amassing 1 million users and generating $3 million in revenue. Holywater, the Ukraine-based media tech startup behind the app, has a strong track record, with $90 million in annual recurring revenue (ARR) across its offerings. The success of My Drama is a testament to the growing market for short drama apps, as demonstrated by the record revenue of $146 million achieved by 66 short drama apps in the first quarter of 2024.
One of the key differentiators of My Drama is its robust library of intellectual property (IP). Holywater leverages its reading app, My Passion, which is known for its romance titles, to adapt existing content into films. This unique advantage allows My Drama to tap into an established fanbase eager to see their favorite characters come to life on screen. By the end of the year, My Drama plans to release 100 titles, further cementing its position in the market.
The introduction of AI characters takes the interactive storytelling experience to a whole new level. My Drama users can engage with fictional characters like Jaxon, the billionaire love interest, and Hayden, the heir of a formidable mafia family. Through the app, viewers can build a relationship with these characters, earning their trust by answering quiz questions about the series. The gamification tactic of ranking users on a trust meter aims to increase engagement on the platform.
To enhance the personalized conversations with AI characters, My Drama is launching a standalone app called My Imagination, currently in beta. This app will allow users to have more intimate and customized interactions with the characters. Additionally, users will eventually have the ability to create their own characters, expanding the possibilities for interactive storytelling. My Imagination will compete with Character.AI, a chatbot startup backed by a16z, known for its expertise in creating AI characters.
It’s worth noting that the AI characters in My Drama are portrayed by real human actors, Nazar Grabar and Bodgan Ruban. Holywater ensures that the actors are fairly compensated for their likeness being used as AI companions. The payment system includes a fixed rate and additional royalties based on the number of users and the time spent in the chat. Actors can earn up to $10,000 per month, incentivizing them to attract more users and engage with them.
AI plays a significant role in various aspects of My Drama’s production process. The company employs AI models for scriptwriting, localization, voice acting, and video generation. By utilizing AI, My Drama saves both time and costs. For example, AI can create a video of a house fire for just $100, compared to the $8,000 it would have cost without AI. The use of AI enables My Drama to produce content in just one week, further streamlining the production process.
Looking ahead, My Drama plans to iterate on its AI chatbot feature by introducing new scenes based on user interactions. This feature empowers users to act as co-creators of the series, influencing its development through their conversations with the characters. The company also has plans to introduce video and voice chatting capabilities in the future, allowing users to have even more immersive experiences.
My Drama is available on the web, iOS, and Android devices. While some episodes are free to watch, the majority of content is behind a paywall. Users can unlock premium titles, ad-free viewing, and early access to content by purchasing coin packs ranging from $2.99 to $19.99 per week.
In conclusion, My Drama’s introduction of AI characters marks a significant milestone in the evolution of interactive storytelling. The app’s success, along with the growing market for short drama apps, demonstrates the demand for engaging and immersive content. By leveraging AI technology and providing viewers with the opportunity to interact with their favorite characters, My Drama is set to reshape the streaming industry and captivate audiences worldwide.