Chorokbaem Media Signs 13.2 Billion KRW Drama Supply Contract

[Asia Economy Reporter Jang Hyowon] Comprehensive content company Chorokbaem Media announced on the 22nd that it has signed a production supply contract worth 13.2 billion KRW for the drama 'Ppalgan Pungseon' with Highground. This amount accounts for 8.85% of last year's sales.

The drama Ppalgan Pungseon is Chorokbaem Media's fifth drama lineup to air this year, following 'Marriage Lyrics and Divorce Music Season 3', 'My Liberation Notes', 'Secret House', and 'Bride of the Typhoon', and its revenue will be reflected starting from the fourth quarter.

Ppalgan Pungseon has been praised as a successful work with diversified broadcasting channels and high viewership ratings. It is available not only on TV Chosun but also on the global largest OTT platform 'Netflix', as well as domestic OTT platforms 'TVING', 'Coupang Play', and 'Wavve'. Since its first broadcast on the 17th, it recorded a highest viewership rating of 4.5% and a peak minute rating of 5.2% within just two episodes, showing a smooth start.

A Chorokbaem Media official said, "This is the comeback work produced after one year since 'Ok Kwang Sisters', which recorded the highest viewership rating of 32.6% last year, written by writer Moon Young-nam, who also wrote 'Wang Family', 'What's Wrong with Poong-sang', and 'Ok Kwang Sisters'." He added, "Director Jin Hyung-wook, who worked on 'Suspicious Brothers', 'Wang Family', and 'What's Wrong with Poong-sang', has also joined, attracting industry attention."

He continued, "Unlike Moon Young-nam's previous works that mainly developed cheerful family stories, the drama Ppalgan Pungseon is a relatively serious and unique work," emphasizing, "The first episode recorded a 3.7% viewership rating, followed by 4.5% in the second episode, raising expectations for further rating increases."

With the expansion of the media platform market and increased demand for content, Chorokbaem Media is adopting a strategy to expand its drama lineup by increasing the number of pre-produced IP works and securing revenue-sharing guarantees or holding distribution rights. Next year, a significant performance growth is expected as various tentpole works such as 'Youth', which has already been completed, 'Pandora: Manipulated Paradise', and '7 Escapees' are prepared in the lineup.