Investor relations

Back the Netflix of short drama, on Telegram

A Telegram-native watch-to-earn short-drama platform riding a $2.98B market — with customer-acquisition cost near zero.

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The market

A $2.98B market, growing 115% a year

Short drama already overtook long-form OTT — and it monetizes hard.

$2.98B

2025 short-drama in-app revenue (+115% YoY)

733M > 658M

Short-form passed long-form OTT downloads, Q4'25

$4.70

US revenue per download — 2x the global average

The wedge

Global #1 and #2 share one weakness

ReelShort and DramaBox hold ~70% of the market — but both are paywall + high-cost acquisition.

Rivals

  • ✕Pay-per-episode paywall — a narrow funnel
  • ✕Buy users via external ads (ReelShort: 70% paid-install, 5B+ impressions)
  • ✕High CPI, disposable consumption, no lock-in

TonTV

  • ✓Free unlimited viewing, ad-supported — the 90% monetized at zero CAC
  • ✓Telegram-native, one-click — no install, no sign-up
  • ✓Watch-to-Earn + token lock-in raises switching cost

The model

Three revenue engines

Grow for free, monetize with ads, add high margin with subscription and token.

01

Ads — scale engine

In-stream ad per episode monetizes the 90% free users at zero CAC. Scales linearly with the user base.

02

Subscription — margin engine

10% of ad-averse users convert to $20/mo ad-free, Netflix-style. Predictable, high-margin revenue.

03

Token & ecosystem — growth engine

TonX transaction & swap fees, NFTs, goods, actor support. Future IP and commerce expansion.

Unit economics

$7.35M monthly at 3M users — $88M annualized

$2.45

Blended ARPU (on par with ReelShort)

≈ $0

CAC — Telegram-native, no ad spend

$240

Premium LTV ($480 at 24-month life)

6 mo

Break-even, low-cost HQ

Base case: Subs $6.0M + Ads $1.35M. Scenarios — Conservative $3.64M · Base $7.35M · Optimistic $9.58M monthly.

The ask

Milestone-based staged rounds

Small launch capital, then scale after proving traction. Non-dilutive license cash funds growth.

Seed · ongoing

$345K

15% equity · post-money $2.3M

License purchase $207K + operating $138K → launch Oct 2026

Round 2

$690K

10% equity · post-money $6.9M

After proving 3M traction → marketing & license scale into Southeast Asia

Series A · 2027

$2.07M

TBD

In-house originals · scale to 100M users · enter high-ARPU KR/JP

Exit: IPO or strategic sale (Netflix, ByteDance, etc.).

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Launch in Telegram