WYSIWYG Studio's 1Q Sales Up 62.5% YoY... "Aiming to Be a 2nd Generation Studio Combining IP Companies and Production Companies"

[Asia Economy Reporter Yoo Hyun-seok] Wysiwyg Studios (Wysiwyg) announced on the 17th that its separate basis sales in the first quarter recorded 5.46 billion KRW, an increase of 62.5% compared to the same period last year. Operating profit for the same period was 670 million KRW, and net profit was 530 million KRW, turning to a surplus.

On a consolidated basis, sales in the first quarter of this year recorded 12.77 billion KRW, an increase of 11.7% compared to the same period last year. Operating loss and net loss for the same period were 920 million KRW and 870 million KRW, respectively.

The reason for Wysiwyg's performance improvement is that, powered by new XR stage infrastructure, it secured sales not only in existing movie and drama volumes but also in the new media content sector. In addition, Wysiwyg is maximizing market dominance in the metaverse business, which has abundant policy resources in the 5G era, by collaborating with strategic partners such as Com2uS and SeersLab, utilizing AR/VR/XR core technologies.

Also, Wysiwyg's subsidiary NP passed the preliminary review for KOSDAQ listing this month, securing new momentum in the new media business sector. Wysiwyg is expected to expand its influence into the Metaverse market through NP's listing, having secured the total value chain of original content such as the intellectual property (IP)-centered production studio 'W Contents Studio' scheduled to launch within the year.

A Wysiwyg official said, “Sales in the drama sector are expected to increase significantly in the second half of the year,” adding, “At least four tentpole works, including 'Jaebeoljip Maknae Adeul' and 'Black's Bride,' which have been confirmed for JTBC programming, are lined up, more than 100% compared to the previous year.”

He continued, “Wysiwyg Studios aims to be a second-generation studio where IP companies and production companies are combined into one,” adding, “We will establish a self-sustaining structure from original IP production and OSMU (One Source Multi Use) content production using our own IP to distribution and broadcasting.”

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