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Entertainment

Yet another Netflix hit lifts Korean content stocks even higher

My Name hits No. 4 on Netflix's top global TV series list within two days of launch

By Oct 18, 2021 (Gmt+09:00)

(Courtesy of Netflix)
(Courtesy of Netflix)

South Korea’s major content production houses’ stocks rallied again on the success of yet another Netflix hit drama series, My Name.

Shares in Studio Santa Claus Entertainment Co., the producer of the series, on Oct. 18 surged 29.97% to close at its daily ceiling of 4,315 won ($3.63). The stocks have jumped almost 70% since Sept. 17 when Squid Game, Netflix’s biggest original series launch was released, bolstering shares in South Korean content makers.

My Name ranked No. 4 on Netflix's top global TV series list after its debut on Oct. 15, according to streaming analytics platform FlixPatrol on Oct. 17. The series, featuring a woman who joins a gang to avenge her father’s death, climbed to the top spot in South Korea while ranking No. 2 in Indonesia and Malaysia, as well as No. 6 in the US.

SLEW OF NEW SERIES SLATED FOR Q4

Yet another hit suggests that dreams of global success for K-content like South Korean dramas have become a reality, analysts said, resulting in the country’s content providers rally in the local stock markets Monday. AStory Co. jumped 11.98%, and Jcontentree Corp. soared 8.28%. KeyEast Co. and Studio Dragon Corp. gained 6.33% and 3.93%, respectively.

Their shares are expected to find more support from a number of new drama series to be launched in the fourth quarter, analysts said. One of the most anticipated series is Hellbound, to be released on Nov. 19 on Netflix. The new horror drama was produced by Climax Studio, a subsidiary of Jcontentree. 
(Courtesy of Netflix)
(Courtesy of Netflix)



Jcontentree's other subsidiary JTBC Studios' new romantic melodrama series, Snowdrop, is set to be aired in December on Disney Plus, a global over-the-top (OTT) streaming service provider.

Netflix and JTBC have agreed to launch the series Inspector Koo, produced by KeyEast, on Oct. 30. Lee Young-ae, a heroine of Dae Jang Geum, or Jewel in the Palace, returns to the small screen in the new comedy-mystery drama series after a four-year hiatus.

AStory has produced the mystery thriller Jirisan for release on Oct. 23 on tvN. The series is getting buzz as Jun Ji-hyun, the superstar of the Netflix series Kingdom and its spinoff series Ashin of the North, as well as Kingdom co-star Ju Ji-hoon are playing the main characters in Jirisan.

MOMENTUM FROM DISNEY PLUS

South Korean content providers’ stocks are expected to gain further momentum from the planned launch of Disney Plus on Nov. 12, analysts said. Increasing competition among OTT providers is predicted to raise content prices and increase production.

“Until now global OTT providers have had guaranteed margins of only 15-20% to domestic content producers,” said Ji In-hae, an analyst at Hanwha Investment & Securities Co. “But Disney Plus’s launch is expected to intensify competition among platforms and ramp up the profitability of local producers.”

“Apple TV Plus and HBO Max are also likely to land in Korea and local OTT firms are expanding investment. So, the content industry is predicted to enjoy an unprecedented boom,” said Kim Hoe-jae, an analyst at Daishin Securities.

Write to Hyung-gyo Seo at seogyo@hankyung.com

Jongwoo Cheon edited this article.

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