[HanCinema's News] Studio Dragon Stock Jumps in the Wake of Drama Success
By William Schwartz | Published on
On December 22nd Studio Dragon stock went up 3.4% to eighty dollars. The noticable rebound from previous days of losses appears to have been prompted by foreign investors due to the continuously improving numbers of "Sweet Home" in the international Netflix charts. The supernatural survival drama was number eight in the worldwide Netflix chart for dramas on December 21st but surged to third place on December 22nd as the drama has continued to enjoy a positive worldwide reception.
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While this was the immediate cause for the stock jump there are other more substantative reasons to be optimistic about Studio Dragon's earnings, which are projected to show a thirty percent improvement this year. While "Sweet Home" received the most marketing attention from Netflix as an original series commissioned by the streaming platform, "Start Up" had also had strong numbers over the previous few months. "The Uncanny Counter" also broke 9% ratings in its broadcast on December 20th.
Studio Dragon has been employing a high-risk high-reward strategy as of late, investing more money into drama production in the hopes of improving returns. In general the strategy has seen more hits than misses, although to those outside of the industry this success can often be difficult to gauge. On paper "The King: Eternal Monarch" and "It's Okay to Not Be Okay" from earlier this year seemed like failures due to underperforming ratings but they more than made up for this shortfall via their Netflix performance.
At the same time Studio Dragon is making a point of diversifying their business partners. Their sale of "Jirisan" to iQIYI, for example, shows a willingness on their part to take more direct aim at the Chinese market when necessary. The appearance of Disney+ in the South Korean market next year will also create further opportunities for Studio Dragon as they work to maintain their image as South Korea's best-known television drama production company.
Written by William Schwartz
William Schwartz
Staff writer. Has been writing articles for HanCinema since 2012, having lived in South Korea from 2011 to 2021. He is currently located in the Portland metropolitan area. William Schwartz can be contacted via william@hancinema.net, and is open to requests for content in future articles.