Chorokbaem Media Turns Operating Profit Positive Last Year... Record High Sales

[Asia Economy Reporter Park Hyungsoo] Drama production company Chorokbaem Media recorded its highest sales since its founding last year.

Chorokbaem Media announced on the 2nd that it recorded sales of 150 billion KRW and an operating profit of 4.4 billion KRW last year. Sales increased by 221.0% compared to the previous year, and operating profit turned positive.

Sales increased as the drama lineup expanded. They produced numerous hit dramas with high viewership ratings such as "Penthouse," "Marriage Lyrics and Divorce Composition," and "OK Kwang Sisters." Additional revenue sources were secured through domestic and overseas broadcasting rights sales of the pre-produced drama "One Day."

The chicken franchise business "Fried Well House" steadily grew, and the rental business of the ‘LCT’ observatory in Haeundae, Busan, recorded sales of 4 billion KRW.

The biggest issue this year is the domestic and overseas broadcasting rights sales of the pre-produced drama "One Day," which holds the IP. Broadcasting rights were sold domestically as well as in Southeast Asia, the Middle East, and Japan. They are seeking additional sales regions.

A company official explained, "We will not only accelerate external growth but also improve the business model to enhance profitability. We will actively utilize content and affiliated artist IPs to expand into new business areas such as NFT and the metaverse."

Chorokbaem Media plans to reduce the proportion of outsourced production sales and expand its business model as the original IP owner of drama content.

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