Studio Dragon Records 2nd Quarter Operating Loss of 2.9 Billion Won Despite Successful Releases

Studio Dragon announced on the 7th (Thursday) that it recorded sales of 114.5 billion won and an operating loss of 2.9 billion won in the second quarter of this year.

The overall airing episodes, including TV and OTT, recorded the lowest ever for a quarter, which affected sales and performance decline. Although the number of OTT airing episodes increased compared to the same period last year through the supply of the Japanese version of 〈Marry My Husband〉 to Amazon Prime Video, the TV airing episodes were limited to 〈Please Take Care of This Week〉 (12 episodes), 〈Unknown Seoul〉 (12 episodes), and 〈The Cowherd and the Weaver Girl〉 (3 episodes), marking a 20.1% decrease compared to the same period last year. Due to the decrease in TV airing episodes, programming revenue decreased by 43.6% compared to the same period last year, leading to a decline in profitability. The decrease in sales was also influenced by the base effect from the high performance of 〈Queen of Tears〉 aired in the second quarter of last year.

Despite the unfavorable market conditions in the second quarter, Studio Dragon showcased several global hits and achieved significant viewing results. 〈Unknown Seoul〉 recorded a peak viewership of 9.4% on tvN and ranked in the Netflix Global TOP10 series (non-English) for six consecutive weeks, establishing itself as a representative youth healing drama of K-drama. The Japanese version of 〈Marry My Husband〉 has become the most-watched drama in Japan within a month of its launch, surpassing all Amazon original dramas, both English and non-English. 〈The Cowherd and the Weaver Girl〉 led the trend of shaman-themed content, ranking first for four consecutive weeks in the TV-OTT integrated FunDex popularity index and maintaining a spot in the TOP10 of Amazon Prime Video's TV show category (including English and non-English) for five consecutive weeks.

In the second half, the number of airing episodes for both TV and OTT is expected to increase compared to the first half. They plan to actively work on recovering profitability through maximizing the performance of individual works. Starting with the fantasy romantic comedy tvN 〈The Chef of the Tyrant〉 starring Lim Yoon-a and Lee Chae-min, and the tvN 〈Typhoon Company〉 featuring Junho and Kim Min-ha, which depicts the growth of a young CEO during the 1997 IMF crisis, as well as tvN 〈Annoying Love〉, written by Jeong Ye-rang, who also penned 〈Dr. Cha Jeong-sook〉, with Lee Jung-jae and Lim Ji-yeon collaborating, will be coming to the home theater. The highly anticipated return work of writer Kim Eun-sook, 〈Will Everything Be Achieved〉, featuring Kim Woo-bin and Suzy, and the mystery thriller 〈The Price of Confession〉, starring Jeon Do-yeon and Kim Go-eun, will be released as Netflix Originals, while the action thriller 〈Fragmented City〉, starring Ji Chang-wook and Do Kyung-soo, will be a Disney+ Original, and the melodrama thriller 〈Dear X〉, directed by Lee Eung-bok and starring Kim Yoo-jung and Kim Young-dae, will be released as a Tving Original.