[Click eStock] "Mr. Blue Expects Synergy from Web Novel Company Acquisition"

[Asia Economy Reporter Hyungsoo Park] KB Securities analyzed on the 9th that Mr. Blue's growth speed will accelerate as it acquires web novel companies.

Researcher Sang-guk Lim of KB Securities explained, "Mr. Blue expects expansion in scale and improvement in profitability through securing K-content, a one source multi use strategy, and blockchain games."

Mr. Blue is acquiring web novel companies ‘Donga Media’ and ‘Video Publishing Media.’ Donga Media supplies web novels to various platforms such as KakaoPage, Naver, and Ridibooks. It also has experience producing webtoons such as ‘Adonis,’ ‘Night Without Shadows,’ and ‘Princess Su.’ Video Publishing Media supplies fantasy and martial arts webtoons and web novels to Kakao, Naver, and others. Mr. Blue plans to pursue expansion of its value chain in various forms alongside its existing webtoon and game businesses.

Researcher Lim said, "Subsidiary Blue Potion Games is promoting onboarding of its self-developed games on the WEMIX platform," adding, "Starting with EOS Red, it could leap forward as a true game company through diversification of its game portfolio with follow-up development and publishing businesses, as well as blockchain P2E business."

He added, "The NFT business promotion conducted together with Korbit is also a growth driver."