Kakao Entertainment recorded growth in its media business during the second quarter as several of its dramas and streaming projects gained attention in Korea and overseas.
According to Kakao’s recently disclosed second-quarter results, media revenue in its content division reached 99 billion won. This marked a 7% increase from the previous quarter and a 5% increase compared with the same period a year earlier.
The company has recently strengthened its production lineup with projects including Netflix’s You and Everything Else and MBC’s A Bona fide Killer, while also expanding its presence through original series released on global streaming platforms.
You and Everything Else has been one of Kakao Entertainment’s most recognized projects this year. The series received awards at several major Korean entertainment ceremonies, while Kim Go Eun also received the grand prize at the 4th Blue Dragon Series Awards.
Other Kakao Entertainment productions have also performed strongly on Netflix.
The supernatural comedy adventure The Wonder Fools reached No. 2 on Netflix’s Global Top 10 chart for non-English TV shows during its second week and entered the Top 10 in 64 countries.
Meanwhile, suspense drama Notes from the Last Row reportedly reached No. 8 on Netflix’s non-English Global Top 10 just three days after its release, drawing attention for performances from Choi Min Sik, Choi Hyun Wook, and Heo Joon Ho.
Kakao Entertainment has built its production strategy around a multi-studio system, with different subsidiaries focusing on their own strengths in film and television. Depending on the project, the company may produce a title directly or work together with one of its production companies.
Another major part of the strategy is adapting Kakao’s existing webtoon and web novel intellectual property into dramas and other video content.
Previous examples include Business Proposal and Karma, while the currently airing A Bona fide Killer is also based on a Kakao Webtoon of the same name.
The company is also preparing the Netflix series Mousetrap, another adaptation of a Kakao Webtoon. The thriller follows several characters who become involved in a mystery surrounding a person whose identity and life have been taken away.
Kakao Entertainment plans to continue adapting popular intellectual properties into new screen projects, including titles connected to Solo Leveling, as it expands its production business and global content lineup.
