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[Apha Biz=(Chicago) Reporter Paul Lee] Studio Dragon announced on the 10th that it tentatively estimated sales of 163.5 billion won and operating profit of 16.3 billion won in the second quarter of this year. Each increased by 3.8% year-on-year and decreased by 39.8%. Net profit fell 60.2 percent to 10.2 billion won.
Although the number of TV episodes decreased 23 times year-on-year, related sales increased to KRW 79 billion from KRW 68.8 billion in the second quarter of last year due to the production of global online video service (OTT) original works.
In the second quarter, Studio Dragon advanced its overseas sales strategy by supplying Amazon Prime Video and Netflix. As a result of diversification of supply chain, sales of new products for local OTTs overseas also increased by 59.6% year-on-year.
Operating profit fell 39.8% due to the effect of the Disney Plus purchase in the second quarter of last year, but the average unit price (ASP) of new works rose 13.3%, proving solid profit strength.
Studio Dragon will also showcase a number of OTT masterpieces and seasonal content in the second half of the year.
Alphabiz Reporter Paul Lee(hoondork1977@alphabiz.co.kr)
