▲This photo, provided by Studio Dragon, shows Studio Dragon. (PHOTO NOT FOR SALE) (Yonhap)

 

 

SEOUL, August 4 (Yonhap) -- KOSDAQ-listed company Studio Dragon[253450] announced on Thursday, they have reached sales of 157.5 billion won, operating profit of 27 billion won, and net income of 25.6 billion won in the second quarter.

Sales increased by 48.5% compared to the same period last year, and operating profit grew by 95.7%, a record high. Overseas sales also increased by 22.1% during the same period last year to 66.6 billion won.

Studio Dragon analyzed that improving requirements for content sales based on the content’s competitiveness and expanding distribution to new OTT platforms led to such result.

Studio Dragon has shown a total of 13 dramas in the second quarter. That is more than twice the number of dramas, 6 dramas, released last year.

Dramas such as “Our Blues,” “Yumi's Cells Season 2,” and “Twenty-Five Twenty-One ” were distributed to global OTT platforms including Tving, Netflix, and Disney+, diversifying paths for more sales.

Accordingly, content sales increased by 53.8% over the same period in the previous year to KRW 13.9 billion, the highest ever recorded. Among them, overseas sales accounted for 64% of total sales.

A total of 23 contents will be released in the second half of this year. This includes Studio Dragon’s first hollywood film “Big Door Prize.”

It also plans to increase the number of cooperative platforms, such as Coupang Play, Apple TV Plus, and Amazon Prime Video.

(This article is translated from Korean to English by Jiwon Woo.)

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