[Special Stock] Dexter Stimulated by Giant Step's 1 Trillion Won... Netflix Also Impressed by VFX
[Asia Economy Reporter Yoo Hyun-seok] Dexter is showing strong performance. Amid growing expectations for the growth of the metaverse, the relatively small market capitalization among visual effects (VFX) companies is being highlighted.
As of 9:17 AM on the 21st, Dexter was trading at 12,600 KRW, up 16.13% (1,750 KRW) compared to the previous trading day.
Dexter's market capitalization has surpassed 300 billion KRW. This is smaller compared to Giant Step's 998 billion KRW and Wysiwyg Studio's 710 billion KRW market capitalizations.
Namsoo Lee, a researcher at Kiwoom Securities, explained, "Based on the best VFX technology in Korea, Dexter will further strengthen its collaboration with global OTT platforms. The outstanding quality of VFX, video, and audio correction will not only expand orders but also improve project-by-project margins."
Earlier, on the 5th, Dexter signed a long-term contract and partnership with Netflix for post-production processes including video and audio correction. Dexter has consecutively announced proactive investment plans this year, including 4.6 billion KRW for new facilities in virtual studios and 2.5 billion KRW for expanding DI and audio studio lines for OTT. Through a business agreement with Crema Worldwide, Dexter added advertising and short-form content fields to its existing film production sector by jointly producing short-form commerce content and investing in metaverse-based immersive content.
Lee said, "Not only will Dexter maintain its position as the largest and best VFX studio in Korea, but global partnerships through OTT platforms will also expand, serving as a solid foundation for growth."
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He added, "Domestic media companies with VFX capabilities are growing by diversifying production capabilities and expanding orders from domestic and international OTT platforms. It is time to pay attention to the strengthening competitiveness of Dexter, which possesses the best VFX technology in Korea."
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