WYSIWYG Studio Reports 121.2 Billion KRW in Sales Last Year, Up 10% Year-on-Year

[Asia Economy Reporter Park Hyungsoo] Comprehensive media content producer Wysiwyg Studios announced on the 18th that its consolidated sales reached 121.2 billion KRW last year, a 10% increase compared to the previous year.

Although sales increased, operating losses were recorded due to additional costs incurred as some ongoing projects were delayed amid the COVID-19 pandemic. Costs were incurred while building infrastructure for the metaverse business. In August, the subsidiary NP was listed on the KOSDAQ market, resulting in approximately 12 billion KRW in merger expenses.

A Wysiwyg representative said, "Until last year, we restructured internal infrastructure for new businesses such as IP sourcing, planning and development, and the metaverse," adding, "from this year, content prepared from IP planning to in-house production within the group is expected to be recognized as sales."

He continued, "Due to the global K-content boom, sales in existing business sectors are also expected to increase," and "we anticipate the success of blockbuster projects produced in-house by the Wysiwyg group," he said.

Wysiwyg is accelerating new businesses that connect content and commerce, including the transmedia business actively utilizing its in-house production pipeline. Wysiwyg maximizes the IP value of various content produced within the group, from original films and dramas to variety shows and short-form content. Leveraging the influence of stars and influencers born from diverse content, it is advancing its digital commerce business. It is expected to create a new metaverse market economy.

Last year, the Wysiwyg group listed ‘NP,’ a new media content planning and production company based on brand experience, and ‘RaemongRaein,’ a drama production subsidiary, on the KOSDAQ market. This year, the Wysiwyg group will present works with confirmed lineups such as ‘Jaebeoljip Maknae Adeul (JTBC)’ and ‘Black’s Bride (Netflix).’ It is also pushing forward ultra-large-scale projects funded independently.

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