[Asia Economy Reporter Jang Hyowon] Comprehensive content company Chorokbaem Media is set to unveil its largest-ever annual drama production lineup since its founding. K-content is expected to attract significant global attention this year as well, based on its strong competitiveness, and with growing anticipation for the issuance of Chinese licenses, Chorokbaem Media is expected to benefit from its record-breaking lineup of works.
This year's lineup includes not only in-house productions but also numerous co-productions with the Alliance, launched at the end of 2021. Production through the Alliance is planned to be further activated in the future, and the top-tier domestic lineup is expected to be maintained going forward. Based on the increase in the lineup, the e-commerce business collaborating with groups such as Lotte Group is also expected to create synergy and rise together.
Chorokbaem Media announced on the 8th that it plans to have at least eight dramas in its lineup this year. Starting with "Pandora: Manipulated Paradise" in the first quarter, Chorokbaem Media will consecutively present excellent works in various genres such as "7-in Escape," "Yeolnyeo Bakssi Contract Marriage Story," and "Bad Memory Eraser."
In 2021, when Chorokbaem Media presented six dramas, it succeeded in surpassing 100 billion KRW in sales for the first time in its history. At that time, sales, which had hovered around 50 billion KRW on average, grew about threefold to 150 billion KRW, and profits also turned positive.
The first drama to be released this year, "Pandora," is a revenge mini-series for tvN, for which Chorokbaem Media signed a contract with Studio Dragon last month. The work features Kim Soon-ok, famous for "Penthouse," as the creator directly involved. Another anticipated work, "7-in Escape," will also be presented with writer Kim. The company explained that they aim to continue the prestige of a drama powerhouse based on high commercial success.
"Yeolnyeo Bakssi Contract Marriage Story," scheduled to air in the third quarter, is a romance based on a web novel of the same name. "Bad Memory Eraser," which had its broadcasting rights pre-sold to Japan in April last year, is also targeted for airing this year. "Bad Memory Eraser" is a growth drama and a mistaken observation romance where protagonists who thought they could heal pain find their true selves through love.
Through the Creator Alliance, about three more works are planned to be presented. Currently under discussion, one work will be co-produced with "Jidam Media," and two works with "DK E&M." The Creator Alliance is a coalition of about ten leading domestic content production companies, including Chorokbaem Media. At the end of last year, "Starcom Entertainment" joined the Alliance, further strengthening its content capabilities.
A Chorokbaem Media official said, "As K-content has gained global popularity, the domestic content market has continued to expand since 2020," adding, "Chorokbaem Media's performance has also shown significant growth and improvement since 2021."
He continued, "Since we plan to produce and air more than eight works, the largest scale ever, in the drama content business this year, expectations for performance improvement are high," adding, "We are discussing not only the number of works but also the production of large-scale well-made works that can attract global attention. We are pursuing various strategies, including collaboration with overseas OTT platforms, to expand beyond the domestic market into the global market."
Last year's performance also proved that the growth is not short-term, recording sales exceeding 140 billion KRW on a consolidated basis through the third quarter. In addition, after recently acquiring the K-STAR channel, the company is strengthening not only drama content but also various entertainment content fields, so it expects that, based on synergy with the management business, it will greatly help external growth and internal stability.
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