Studio Dragon (253450.KS), a leading Korean drama production company, reported preliminary consolidated operating profit of 30.4 billion won ($21.3 million) for 2024, down 16.6% from the previous year, the company said in a regulatory filing Wednesday.
Revenue fell 3.5% year-on-year to 530.7 billion won, while net profit plunged 69.2% to 10.3 billion won.
The company produced 230 episodes in 2024, a slight increase from the previous year, as some projects originally planned for 2025—including tvN's "I'll Give You the Universe" and Netflix's "Soul Mate"—were postponed to 2026 amid a sluggish first-half market.
Overseas revenue rose 3.3% to 335.5 billion won, boosted by content supply to Tving's overseas brand channels. Domestic revenue dropped 13.4% to 195.2 billion won due to the absence of mega-hit productions comparable to 2024's "Queen of Tears."
Despite challenges in expanding production volume, Studio Dragon demonstrated its competitive edge in 2025 by delivering five dramas that achieved peak viewership ratings above 10%, including "Unknown Seoul," "The Tyrant's Chef," "CEO Shin's Project," "Typhoon Trading Company," and "Pro Bono."
Original series for streaming platforms also received favorable reviews both domestically and internationally, including Tving's "Study Group" and "Dear X," Disney+'s "Sculpture City," and Netflix's "The Price of Confession."
The Japanese adaptation of "Marry My Husband" for Amazon Prime Video ranked first in the drama category of Google Japan's 2025 Year in Search, establishing itself as the most successful international co-production case.
This year, Studio Dragon plans to pursue both scale expansion and maximized viewership performance while diversifying revenue streams through IP business beyond drama production.
For linear channels, the lineup includes more than 10 tvN productions alongside terrestrial network dramas such as "Dear Thief" (KBS), "Fifty-Fifty" (MBC), and "Doctor X: Era of the White Mafia" (SBS).
Upcoming tvN releases include the suspense drama "How to Become a Building Owner in Korea" starring Ha Jung-woo and Lim Soo-jung, youth drama "Forehands" starring Song Kang, Lee Jun-young, and Jang Gyu-ri, and "100 Days of Lies" starring Kim Yoo-jung and Park Jin-young, which follows Joseon's greatest pickpocket who goes undercover at the Japanese Government-General as a spy.
For OTT original series, productions awaiting release include "Yumi's Cells Season 3" (Tving) starring Kim Go-eun and Kim Jae-won, crime drama "Goldland" (Disney+) starring Park Bo-young and Kim Sung-chul, and "Slowly but Intensely" (Netflix), which has generated anticipation for bringing together writer Noh Hee-kyung, director Lee Yoon-jung, and actors Song Hye-kyo and Gong Yoo.
