Park Seo Joon 박서준 ~❤❤️ [Drama 2023: “Gyeongseong Creature”] || [Movies 2023: “Dream”, “Concrete Utopia”] [Upcoming Movie 2024:“The Marvels”]

serenilmauve · March 5, 2020

Watch: “Itaewon Class” Cast Shows Off Sweet Friendship Even While Filming Fight Scene

credit: https://www.soompi.com/article/1386773wpp/watch-itaewon-class-cast-shows-off-sweet-friendship-even-while-filming-fight-scene

emollienime · March 5, 2020

the member of idol group stary kids(?)mentioned park seojoon

emollienime · March 5, 2020

Anjalifairy · March 6, 2020

Awesome Ent IG update

Anjalifairy · March 6, 2020

SHOWBOX "FIRST CHALLENGE", DRAMA ITAEWON CLASS "BIG SMILE"

Corona19 is hitting the entire film industry but Showbox, one of the major investment and distribution company is trying to manage the score. Itaewon Class, the first drama to be produced, which has recorded high ratings, signaling a "high return".

According to an industry source on the 3rd, Showbox signed a contract with Itaewon Class culture industry company in September 2019 and attracted 12.8 billion won for Itaewon Class production cost. This is equivalent to 19% of Showbox's 2018 revenue of 68.5 billion won. Considering that it is a 16 episode drama, 800 million won is spent per episode.

Currently the viewership of Itaewon Class which has been aired up to 10 episodes, continues to rise. Itaewon Class, whose first episode started with 5%, followed by 5.3% (ep 2), 8.0% (ep 3), 9.4% (ep 4), 10.7% (ep 5), 11.6% (ep 6), 12. 3% (ep 7), 12.6% (ep 8), 14% (ep 9), 14.8% (ep 10) and so on, shows its potential to rise by about 1% each time.

In particular, the gap with the second-largest program is more than doubled as it sweeps the prime time of Friday-Saturday's program. Although it is a re-run, the gap is about twice that of TV Chosun's Tomorrow Mr. Trot (7%), which is making a splash by recording 30% viewership ratings on weekdays. Itaewon Class is estimated to have an average of more than 3 million people watching every episode.

Showbox is expected to be able to reap a good return with Itaewon Class. Showbox said, "With the improvement in viewership, the breakeven point has already exceeded, and we will disclose how much additional revenue will be generated afterwards." As 12 billion won must be used as a cost of sales (net production cost) under the contract of 12.8 billion won, sales related to Itaewon Class in local market are now at the stage of generating net profit.

The profit structure of the drama is divided into large-scale broadcasting rights, overseas broadcasting rights, indirect advertisement (PPL), and sponsorship rights. It is a method of recognizing related sales to Itaewon Class culture industry company, which was jointly established by JTBC and Showbox, and then divides the net profit according to the ratio of investment. Showbox did not reveal the ratio. However, the company's sales of 12.8 billion are expected to be included in sales. If the additional rights, advertisements, and sponsorships expenses are settled in final calculation, net profit will likely increase.

Itaewon Class is currently providing indirect advertising and sponsorship of high-end furniture, ultrasonic wave equipment, clothing, and part-time app applications. Considering that it is worth at least a few million hundred won per case, the additional revenue is expected to reach several billion won. On top of that, we can expect additional revenue from video streaming service (OTT).

Currently, Itaewon Class provides contents to Netflix and TVing.

Netflix pre-signs the copyright and then enters into a content contract in a way that takes all global copyright revenues except domestic. An industry insider said, "it is an attractive platform for production companies because it gives 50-70% of copyright fee of the original production cost in advance and enters into a contract." In this case, it is expected that Itaewon Class will be able to collect up to 8 billion won or more from copyright fees. In the case of TVing, the fee-based payment and individual VOC purchase revenue are calculated at the rate '6 (broadcaster) to 4 (TVing)'.

Studio Dragon's "Goblin", which averaged 20.5% of viewership in 2018, generated sales of 24.2 billion won, of which about 10 billion won was recognized as a net profit. Skycastle, which aired on JTBC and had a 20% viewership, earned more than 7 billion won in VOD sales alone.

Showbox is expected to be able to diversify its profit structure with the success of Itaewon Class. Just like CJ ENM, a top-tier group in its industry, which has divided its drama division into Studio Dragon with its hits like "Crash Landing On You," "Mr. Sunshine" and "Goblin." It is analyzed that it will be able to add its drama portfolio after the success of Itaewon Class.

Currently, Showbox is planning to produce four more dramas after Itaewon Class. "Itaewon Class is getting good feedback right now, and we are looking forward to a rise in sales as a result," a Showbox official said. "The current four dramas are in the process of scenario development, and the plan is to air at least one drama per year as a first-visit goal early next year."

Source

m.thebell.co.kr/m/newsview.asp?svccode=00&newskey=202003031236480160104333

Sorry if there are innacuracies in my translation. Feel free to correct