Some entertainment stocks are showing strength in the early trading on the 20th. Following reports on the 19th that China may strengthen the supply of overseas video content, certain entertainment stocks have surged and are continuing to show gains.
As of 9:15 a.m. on this day, Ascendio is trading at 4,885 won, up 905 won (22.74%) from the previous trading day. In addition, Blitzway Entertainment (26.64%), Samhwa Networks (14.26%), and Fantagio (5.74%) are also enjoying gains.
Recently, local Chinese media reported that the National Radio and Television Administration, China's broadcast regulatory agency, is pushing for the introduction of overseas programs. This is seen as a measure to expand domestic video content. The plan includes strengthening copyright protection of programs to accelerate the entry of overseas content.
With the recent rapid growth of the domestic video content market, there are expectations that China's regulatory improvements will lead to rising performances. China currently restricts viewing of foreign OTT platforms, including Netflix, but Korean dramas are known to be quite popular. However, most of these views are reportedly unauthorized. As China opens its market to overseas video content, there are rising expectations that this will positively impact the performances of domestic corporations.