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Label system to be applied to dramas

2017/08/28 Source

'The introduction of label systems in dramas according to their genres will be just like the music market and bring in distinct drama producers'

Ahn Seok-joon, the representative for FNC Ad Culture, is known as Midas in the domestic music market. He caused CJ E & M's music business to grow by 200 billion won (~$177,340,000) in sales and lead changes in music distribution, concert, and label systems.

At the end of last year, there was a lot of concern when Ahn, a music expert, moved to FNC Ad Culture, a drama and entertainment program production company. It was an enitrely different field that he had no experiencein. However, he passed with flying colors just eight months into the job.

In the first half of this year, sales of FNC Ad Culture rose by 162% to 15 billion won (~$13,300,500). Operating profits also rose 234% over the same period to 424 million won (~$376,071). After five years of operating profit turnaround, profits are steadily being made in the first quarter. In the third quarter, sales of "Girls' Generation 1979" will be reflected in the totals.

Ahn explained, "The drama production company should be ready to quickly react to the consumer's watching pattern. First, the export to China is blocked so the sales are now making a steady profit through weekend or daily dramas".

He added that export to China influenced by the positioning of THAAD will take some time so he is pursuing cooperation with Southeast Asia exports and global platforms, but not with China.

Ahn plans to introduce a label system in the drama. The label that is commonly used in the music market is a system for creating and distributing music by establishing professional agencies by genre or artist.

"The taste of consumers is rapidly changing so dramas need to have a labeling system", said Ahn. "We plan to acquire three or four excellent producers according to genre such as romantic comedy and crime and create up to eight dramas a year". This is why FNC Ad Culture acquired the production film of the drama, "Sister is Alive" in May.

Usually, producers can produce a maximum of three or four dramas a year, but their earnings are highly volatile due to the formation of broadcasters. Ahn explained that adopting the label system would increase the number of drama productions and diversify the genre so that it can cope more flexibly with the formation of broadcasting companies.

Ahn is judging reinforcement of production of entertainment programs conservatively for the reason that they are not very good for business because the production cost per one is small. He said, "We plan to embody the plans for the production of entertainment programs in the second half of 2018". "Entertainment programs are not so good at business, but we expect this new plan that will raise awareness by introducing new artists from FNC Entertainment".

The film production and investment division also expect earnings to be visible starting next year. FNC Ad Culture has invested in the film "V.I.P", which was released on the 23rd, and created a Korean film investment fund, with Warner Bros. Korea and Hwai Investments.

"All of the DVD distributions for the films invested in this fund will be taken by EFN's FNC Ad Culture", said Ahn. "We will make a leap into films, dramas and entertainment to make a comprehensive contents company".

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