下一个伟大的故事
不会是 90 分钟。
The next great story
will not be
90 minutes long.
电影，另一种形式。 Cinema, in another form.
观众
在觉醒。
The audience
is waking up.
A24 用观众能感受的故事在票房上跑赢传统大片厂。A24 outpaces studios at the box office with stories audiences feel.
《过往人生》 1200 万美元成本拿下 4000 万美元票房。《晒后假日》《坠落的审判》皆是证明。Past Lives earns $40M on a $12M budget. Aftersun, Anatomy of a Fall, all proof.
大部分短视频是垃圾。品味市场是开阔的。Most short-form video is slop. The taste market is wide open.
品质，就是新的反共识赌注。我们为算法而打造它。Quality is the new contrarian bet. We're building it for the algorithm.
AI 刚刚跨过了
质感门槛。AI just crossed
the quality line.
工具就绪。Talent 就绪。窗口期开了。Tools are ready. Talent is ready. The window is open.
AI 跨过质感门槛AI crossed the quality threshold
Sora、Veo、Seedance 首次达到可用的电影级质感。AI 不再只是 plausible，而是 cinematic。Sora, Veo, and Seedance hit usable cinema quality. AI is no longer just plausible — it's cinematic.
中国动画世界级质感World-class talent, fraction of the cost
《哪吒 2》全球票房 $7 亿+。中国动画十年时间证明了世界级 craft。Chinese animation Ne Zha 2 hit $700M+ worldwide. A decade of Chinese animation has proven world-class craft.
AI + 中国动画 talentAI + Chinese animation talent
中国 animator 月薪是好莱坞 1/5。加上 AI 工具，单分钟成本下降到原来 1/20。Chinese animators earn 1/5 of Hollywood. With AI tools, per-minute cost falls to ~1/20 of original.
短视频
就是新的电影。Short-form is
the new cinema.
电影级结构Cinematic structure
钩子 · 张力 · 回报。让 A24 伟大的三幕剧脊柱 — 现在浓缩到 60 秒。Hook · tension · payoff. The same three-act spine that made A24 great — now in 60 seconds.
情感胜于精致Emotion over fidelity
观众一直奖赏的是情感，不是工艺。AI 抬高了下限；品味抬高了上限。Audiences have always rewarded feeling over polish. AI raised the floor; taste raised the ceiling.
算法是诚实的The algorithm is honest
留存率是新的票房。每一条作品都即时告诉我们什么故事打动了观众。Retention is the new box office. Every post tells us, instantly, what stories landed.
一部 90 秒的电影，由 AI 制作，但有 90 分钟电影的力量。 A 90-second film, made by AI, that lands like a 90-minute one.
我们是一座桥。We are a bridge.
Talent 在一端。Audience 在另一端。我们让两端相遇。Talent on one side. Audience on the other. We make them meet.
emerging talents
- 中国动画人 + 独立电影人 + 短片导演Chinese animators · indie filmmakers · short-film directors
- Taste 不缺，缺的是产能They have taste; what they need is throughput
- 缺全球发行 + 跨文化 framingMissing: global distribution + cross-cultural framing
品味留质
算法分发 COST
QUALITY
ALGORITHM
全球观众 Global audience
hungry for great stories
- A24 + Netflix + 短剧 + 爆米花共存A24 + Netflix + short drama + popcorn coexist
- 观众要的不是少，是 quality 的多样性Audiences want diversity, not less
- 愿意为真正 quality 的内容付费Willing to pay for genuine quality content
不是 60 秒。
是 15 集 × 90 秒。Not 60 seconds.
15 episodes × 90 seconds.
A 15-episode short cinema, not a one-off clip.A 15-episode short cinema, not a one-off clip.
15 × 90 秒 = 约 30 分钟 = 一部短片的体量，一集竖屏的呼吸。 15 × 90 sec = ~30 min = the scope of a short film; the breath of a vertical episode.
STRUCTURE
三幕剧 → 15 个钩子Three-act spine → 15 hooks. 每集独立，整体成 arc。Each episode stands alone. Together they make an arc.
ECONOMICS
短剧的产品逻辑，Short drama's product logic, Oscar-short craft. 可以拆成集，可以剪成片。Splits into episodes, cuts into a film.
RETENTION
Episode 1 钩住，15 集 LTVHook in EP 1. 15 episodes of LTV. 比 single video 高 ~8x。~8× the LTV of a single video.
我们从哪里开始。Where we start.
写给孩子的
第一堂电影课A child's first
film class
不只是数学。是 courage、好奇心、共情。孩子要的是故事，父母愿意为质感付费。Not just math. Courage, curiosity, empathy. Kids want stories. Parents pay for quality.
观众不只是看的故事。
他们在感受。Stories audiences
don't just watch.
They feel.
家庭、事业、爱情。期望、义务、独立。沉默的精疲力尽。Family, career, love. Expectation, obligation, independence. The quiet burnout.
成年人也需要
被故事看见Adults need
to be seen by stories too
爱情、梦想、家庭、归属。普世主题，不分国界 — 故事是 therapy，是 belonging。Love, dreams, family, belonging. Universal themes, no borders — story is therapy, connection, belonging.
它看起来是这样。What it looks like.
竖屏电影。A24 的审美，为信息流而生。Vertical cinema. A24 sensibility, made for the feed.
年后After the New Year
她回到家。她想起了为什么离开。She comes home. She remembers why she left.
漫长的告别The Slow Goodbye
三个时区，两种语言，一场分手。Three time zones, two languages, one breakup.
家中第一个First in the Family
她拿到了大办公室。她仍然不敢告诉母亲。She got the corner office. She still can't tell her mother.
治疗师不会说中文The Therapist Doesn't Speak Mandarin
有些东西无法翻译。她还是试着说。Some things don't translate. She tries anyway.
年后After the New Year
她回家一个星期。
她想起了为什么离开。
She comes home for one week.
She remembers why she left.
预期：200 万 + 播放 · 8%+ 转发率 · 第一天就建立品类权威。Forecast: 2M+ views · 8%+ share rate · category authority on day one.
我们到底会做什么。What we'd actually make.
六个一句话故事。每个 60 秒电影。电影节质感，为算法准备。Six loglines. Each a 60-second film. Festival sensibility, algorithm-ready.
年后After the New Year
她回家一个星期。又想起了为什么离开。She comes home for one week and remembers why she left.
漫长的告别The Slow Goodbye
三个时区，两种语言，一场分手。Three time zones, two languages, one breakup.
家中第一个First in the Family
她拿到了大办公室。她仍然不敢告诉母亲。She got the corner office. She still can't tell her mother how she feels.
姑姑的婚礼Auntie's Wedding
三十，单身，在场唯一没哭的人。Thirty, single, and the only one not crying.
治疗师不会说中文The Therapist Doesn't Speak Mandarin
有些东西无法翻译。她还是试着说。Some things don't translate. She tries anyway.
那个讨厌偶数的数字The Number That Hated Being Even
给讨厌数学的小孩讲数学。A math story for kids who hate math.
我们不替代 A24。
我们让世界更宽。We don't replace A24.
We make the world wider.
90 分钟
每年 ~10 部
策展品味 Theatrical + streaming
90 minutes
~10 films per year
Curated taste
45 分钟+
每年 ~500 部
规模分发 Global long-form
45 min+
~500 titles per year
Scaled distribution
90 集 × 1 分钟
爽感导向
产品逻辑 Vertical episodic
90 ep × 1 min
Dopamine-driven
Product logic
15 集 × 90 秒
品质 + 算法
Bridge talent ↔ audience Vertical short cinema
15 ep × 90 sec
Quality + algorithm
Bridge talent ↔ audience
品味就是新的护城河。Taste is the new moat.
任何人都能调用 AI 模型。但几乎没人知道，什么样的故事能让拇指停下来。Anyone can call an AI model. Almost no one knows what story will make a thumb stop scrolling.
策展型叙事库Curated narrative library
一个由 A24 风格训练的叙事弧、钩子与情感触发器语料库。其他人没有的品味数据。An A24-trained corpus of arcs, hooks, and emotional triggers. The taste data nobody else has.
留存优先的叙事Retention-first storytelling
大多数创作者为工艺设计。我们为观看时长设计。不同的目标函数，不同的产出。Most creators design for craft. We design for watch time. Different objective, different output.
复利循环Compounding loop
每一条视频都让模型更锋利。每一位观众都是一票。我们跑得越久，越难被复制。Every video sharpens the model. Every viewer is a vote. The longer we run, the harder we are to copy.
短视频不是终点。
是 cinema 的孵化器。Short-form isn't the end.
It's the farm system for cinema.
观众投票决定哪部短篇值得变成长片。算法是新的 development office。 Audiences vote on which shorts deserve to be features. The algorithm is the new development office.
三种人才的稀缺交集。The rare intersection
of three talents.
懂艺术电影的不懂产品逻辑。懂产品的不懂叙事弧。懂中美桥梁的不懂内容。我们三件都懂。 Cinema people don't get product. Product people don't get arcs. Bridge people don't get content. We get all three.
Katherine Ruihong Liu
电影人 · 编剧 · TikTok 产品战略 · BCG · Wharton + Columbia MBAFilmmaker · Screenwriter · TikTok Product Strategy · BCG · Wharton + Columbia MBA
- Wharton 本科 — 商业 + Cinema Studies 双修Wharton undergrad — Business + Cinema Studies double major
- Columbia MBA + MFA 制片课程 — 商业与电影双重训练Columbia MBA with MFA classes — business and cinema, both trained
- BCG 战略咨询 — 行业分析与增长策略BCG strategy consulting — industry analysis and growth
- TikTok 产品战略 — 竖屏叙事、留存与 virality 的内部经验TikTok Product Strategy — vertical storytelling, retention, virality from the inside
- 编剧训练 — 叙事结构与人物塑造Screenwriting trained — narrative structure and character
- 电影人出身 — 懂 narrative arc、character、pacingFilmmaker by training — narrative, emotion, character
- 对核心受众的亚洲女性视角Asian female lens on the wedge audience
Hang Yu
电影创作者 · 编剧 · Stanford GSB · Wesleyan · 前投行Filmmaker · Screenwriter · Stanford GSB · Wesleyan · ex-Investment Banker
- Wesleyan 本科 — Film Studies + Economics 双修Wesleyan BA — Film Studies + Economics double major
- Stanford GSB MBA — 商业与增长策略Stanford GSB MBA — business and growth strategy
- 编剧训练 — 叙事结构与人物塑造Screenwriting trained — narrative structure and character
- 投资银行经验 — 财务严谨与规模化思维Investment banking — finance rigor and scaling mindset
- 资本运作与机构关系 — 融资与战略合作Capital strategy and institutional relationships — fundraising and partnerships
- 电影创作者 — 多年独立创作实践Filmmaker — years of independent creative practice
- 与创始人共享创意语言与电影品味Shared creative vocabulary and cinema taste with the founder
下一部伟大的电影，
会从一段短片开始。
The next great film
will begin as a short.
它会从 90 秒开始。它会变得更大。 It will start as 90 seconds. It will end up bigger than that.
成为 Reverie 的
一部分Be part of
Reverie
无论你是创作人才、投资人，还是相信 quality storytelling 的观众Whether you're a creative talent, an investor, or a believer in quality storytelling