[Click eStock] "Mr. Blue, Momentum Abundant Until Next Year"

[Asia Economy Reporter Hyunseok Yoo] Kyobo Securities analyzed on the 24th that Mr. Blue has abundant momentum until next year. No investment opinion or target price was presented.

Kyobo Securities evaluates that there is anticipation for the mobile game 'EOS Red.' Ji-won Park, a researcher at Kyobo Securities, said, "In the case of EOS Red, after the pre-registration started in Taiwan on the 10th, it surpassed 470,000 users," adding, "Considering the faster pre-registration growth rate than in Korea, the case of Lineage M's entry into Taiwan with a similar user base, and the increasing number of pre-registrations for 'EOS Red,' Mr. Blue's sales in Taiwan in the second half of the year are expected to be 15 to 20 billion KRW. It is also positive that high profit margins can be secured by directly conducting local development and publishing."

They forecast that overseas expansion momentum will continue. He explained, "In the second half of the year, the PC version of 'EOS Red' plans to enter mainland China," and added, "'EOS' seasons 1, 2, and 3 have already been serviced in China." He further explained, "'EOS Red' PC version will be an updated version of the existing 'EOS' game in China, so it is free from licensing issues, and in 2021, it is scheduled to enter Japan and the Americas through Steam."

He emphasized, "The number of subscribers and repurchase amounts on Mr. Blue's own webtoon platform are steadily increasing, which means that new user inflow and loyalty strengthening are progressing simultaneously," adding, "By establishing Blue Comics, a system for internalizing external scenarios and illustrators has been built. Five titles from Blue Comics are scheduled to be released in the second half of the year, and by internalizing illustrators who have a high share of revenue, an improvement in operating profit of the content business division is expected in the future."

This content was produced with the assistance of AI translation services.