Netflix’s Sweet Home
Shares of South Korean media content creators and producers riding high on the back of the digital streaming boom.
Studio Dragon Corp. shares finished Monday at 108,500 won ($98.48), up nearly 18 percent compared to the beginning of this month. The stock closed last Friday at a new record of 109,200 won, the highest since Nov. 28, 2018.
Studio Dragon, a unit under CJ Group, is a producer behind major Korean TV shows and dramas including Netflix’s original series Sweet Home, which is enjoying global fame.
Shares of Keyeast Co. have jumped nearly 60 percent since the beginning of this year. The stock touched a three-month high of 20,450 won last Friday after the company announced an investment of 40 billion won to produce four epic-size dramas this year.
Other content production stocks are on a roll. Next Entertainment World gained 25.8 percent, Chorokbaem Media 21.05 percent, Astory 19 percent, Jcontentree 19.89 percent, and Samhwa Networks 11.01 percent so far this year.
Web comics and fiction publishers are on an upward swing as well, thanks to the success of TV shows created based on their original stories. KidariStudio gained 37.84 percent and D&C Media 13.7 percent since early January.
Naver shares have been extending strong gains since the Korean internet giant on Jan 20 announced its plan to acquire Wattpad, the world’s largest web novel platform. The stock closed Friday at a record high of 343,500 won and became No. 4 on the Kospi, based on market cap. It has gained an additional 1.6 percent on Monday.
Global boom of steaming service is serving as a good jumping board for Korean content producers.
Korean contents have been gaining more popularity beyond Asia through global streaming giant Netflix that reported a 21.5 percent on-year jump in revenue for the fourth quarter, said Kim Min-jung, a Hi Investment & Securities analyst.
[ⓒ Pulse by Maeil Business Newspaper & mk.co.kr, All rights reserved]