SBS is showing strong performance. It is interpreted that the news of signing a strategic partnership for content supply with Netflix Worldwide Entertainment is influencing the stock price.
As of 12:56 PM on the 20th, SBS is trading at 18,530 KRW, up 20.4% from the previous day.
SBS's stock price had fallen 47% this year until the previous day. It appears that the stock price is rising as news of the strategic partnership with Netflix emerged from the bottom range.
SBS announced that it has signed a partnership contract to supply Netflix with SBS's new dramas, new variety/culture shows, and old library content. The contract period is six years starting from January 1 of next year.
For new dramas, some of the newly aired content will be supplied domestically from the contract start date, and some newly aired content in the second half of next year will be supplied overseas. New variety and culture shows will be supplied domestically from the contract start date. Content aired before the contract will be supplied domestically.
The contract amount was not disclosed to maintain business confidentiality.
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