[Click eStock] "Mr. Blue Begins Full-Scale Growth with 'Webtoon, Web Novel, Game' Triangular Strategy"

[Asia Economy Reporter Jang Hyowon] KB Securities analyzed on the 9th that Mr. Blue has established the strongest triangular alliance in webtoons, web novels, and games, entering the early stage of full-scale growth with an OSMU (One Source Multi-Use) strategy.

Mr. Blue is a webtoon production company and is the only domestic webtoon platform company that owns its own martial arts IP. It also services the mobile game ‘EOS Red’ through its subsidiary Blue Potion Games.

Researcher Lim Sang-guk of KB Securities stated, “With various forms of value chain expansion such as the acquisition of web novel companies ‘Donga Media’ and ‘Video Publishing Media,’ optimal synergy effects are expected,” and analyzed, “They are building their own web novel platform based on webtoon platform know-how, and additional annual sales of over 20 billion KRW are expected.”

Researcher Lim added, “After entering a stable performance growth trajectory, they may also pursue an initial public offering (IPO).”

He also mentioned that continuous updates of ‘EOS’ by subsidiary Blue Potion Games, expansion into the global market, and small to mid-sized game publishing are expected to bring a second leap forward in the gaming business sector.

He said, “With the signing of an MOU with Japanese game specialist company Funcrew, entry into P2E games, and the planned release of ‘EOS Black’ in the second half of 2023, another success story of the EOS series is anticipated.”

Furthermore, he analyzed, “The aggressive IP expansion for utilizing self-verified martial arts IP and discovering killer content, as well as the continuous release of new webtoons and web novels, are positive strategies for growth.”

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