April 20, 2024

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[THE INVESTOR] J Contentree will be boosted by the momentum from sales to Netflix and China, said Yuanta Securities Korea on March 19, suggesting a “buy” recommendation and 9,500 won (US$8.86) target price. 

It sold its drama “Man to Man,” aired on JTBC, to Netflix for US$350,000 per episode last year, and this year sales to the US network will begin in earnest, said analyst Park Seong-ho. The price will rise further as Netlix’ rival in over-the-top service expands investments in Asia leading to competition in buying content, according to the analyst. 

Meanwhile, China’s leading OTT service provider Youku added three JTBC drama series to its section devoted to Korean dramas, including the current hit in Korea “Misty,” according to Park. China’s state-run media devoted a whole culture section earlier this month to the drama, which some interpreted as a signal that it seeks to ease the ban on Korean culture contents, said the analyst. 

By Hwang You-mee (glamazon@heraldcorp.com)