[Market Focus] Studio Mir Hits Upper Limit on News of Marvel Contract

As of 9:40 a.m. on June 19, the share price of Studio Mir, an animation production and planning company, was up 29.94% from the previous day's closing price at 4,340 won on the KOSDAQ market. This appears to be due to news of a contract with Marvel Animation Studio in the United States.

The previous day, Studio Mir announced via regulatory filing that it had signed an animation production contract with Marvel Animation Studio. According to the filing, the completed animation will be distributed worldwide through Disney Plus. The contract amount is scheduled to be disclosed on March 1, 2028, after the disclosure grace period expires. Previously, in May, Studio Mir also announced that it had signed an animation production contract with Paramount in the United States.

Studio Mir was founded in 2010 and listed in February 2023. It has Studio Mir CGI, which specializes in 3D animation, as a subsidiary. The company engages in both the main production (general) method, which involves handling only parts such as layout, key animation, and in-between animation?tasks that many Korean companies have traditionally undertaken?as well as the comprehensive production method, which oversees the entire animation production process. As of last year, over 90% of revenue came from the comprehensive production method.

Works produced by Studio Mir are sold on a B2B basis to global OTT platforms such as Netflix and Disney Plus, as well as to North American cable channels like Nickelodeon.

The company explained, "We continue to receive more proposals than the number of projects we can produce, so we select and produce works that are most advantageous for our profitability or our company reference."