Studio Dragon Q2 Operating Profit 13.8 Billion Won... "Expecting Normalization of Broadcast Episodes in Q3"

[Asia Economy Reporter Lee Seon-ae] Studio Dragon announced on the 5th that its consolidated operating profit for the second quarter of this year was tentatively estimated at 13.8 billion KRW, down 18.17% compared to the same period last year. Sales also decreased by 34.33% to 106 billion KRW compared to the same period last year. Net profit fell 29.14% to 9.5 billion KRW. The decrease is attributed to the reduction of four broadcast episodes compared to the same period last year.

However, Studio Dragon stated that sales revenue reached 67.5 billion KRW, supported by the enhanced influence of premium IP (intellectual property) and overseas sales performance, and the sales ratio expanded to 63.7%, up 16.8 percentage points compared to the same period last year.

Additionally, operating profit margin rose by 2.6 percentage points year-on-year to 13%, driven by an overall increase in the average selling price (ASP) of new works through strengthened negotiation power and the increase in original productions for global OTT (online video service) platforms.

In the second quarter, Studio Dragon presented a lineup of various genres including "Vincenzo," "Navillera," "Mine," "One Day, Destruction Came to Our Front Door," "My Roommate Is a Gumiho," and "Voice 4: Judgment Hour," with "Vincenzo" notably ranking high in popularity on global OTT platforms.

Studio Dragon emphasized that the number of broadcast episodes in the third quarter is expected to normalize to six, the usual level, and plans to showcase differentiated genres and various formats of dramas by utilizing premium original IPs such as webtoons, movies, and novels.

Kang Cheol-gu, CEO of Studio Dragon, said, "We will also take the lead in maximizing IP value by expanding digital-based business models such as NFT and metaverse."

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