[Click eStock] "DNC Media, Rising Expectations for 'Solo Leveling' IP Game Adaptation"
Recognized for IP Production Capabilities in Various Fields... "Game Success Will Determine Corporate Value Increase"
![[Click eStock] "DNC Media, Rising Expectations for 'Solo Leveling' IP Game Adaptation"](http://www.asiae.co.kr/news/img_view.htm?img=2017062708315948975_1.png)
[Asia Economy Reporter Minwoo Lee] In the third quarter of this year, D&C Media posted solid results that met market consensus. This is attributed to the strong performance of various IP webtoon works, not only the flagship intellectual property (IP) 'Solo Leveling' but also other diverse IPs. Going forward, the success of the game adaptation of 'Solo Leveling' is expected to be linked to an increase in corporate value.
On the 16th, NH Investment & Securities maintained its 'Buy' rating and target price of 50,000 KRW for D&C Media based on these factors. The closing price the previous day was 39,050 KRW.
In the third quarter of this year, sales reached 18.6 billion KRW and operating profit was 4.2 billion KRW, up 19.8% and 17.3% respectively compared to the same period last year. These are solid results in line with market expectations. In particular, the consolidation effect of 'The Ant,' newly acquired in the second half, and the launch of the Kakao Webtoon service were key factors. Junki Baek, a researcher at NH Investment & Securities, explained, "Especially since romance fantasy genre works like 'I Will Become the House Owner in This Life' and male-oriented genre works like 'Leveling Up with the Gods' are simultaneously recording strong sales, it reaffirms D&C Media's outstanding IP production capabilities."
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The game adaptation of 'Solo Leveling' is also a point of focus. This work, which ranked first in sales on Kakao's Japanese webtoon platform 'Piccoma' in 2020, is expected to reveal specific game development information by early next year at the latest. Researcher Baek said, "There is growing anticipation for a strong game IP that can be utilized in areas such as non-fungible tokens (NFTs). The success of the 'Solo Leveling' game will be linked to an increase in D&C Media's corporate value."
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