SINGAPORE
- Media
OutReach - 28
November 2018 – Spackman
Entertainment Group Limited (“Spackman
Entertainment Group” or the “Company” and together with its subsidiaries, the “Group“), one of Korea’s leading entertainment production groups
founded by financier Charles Spackman, wishes to announce that the Group’s
upcoming film, DEFAULT, produced by the Company’s indirect
wholly-owned subsidiary, Zip Cinema Co., Ltd. (“Zip Cinema“),
ranked #1 in ticket reservations as of 27 November 2018, prior to its scheduled
opening day on 28 November 2018.
Based on the latest
statistics from the Korean Film Council, the market share of advance booking of
tickets for DEFAULT stood at 35.1% with a total 125,652
tickets reserved, the highest amongst all other films for 27 November 2018.
According to an article on popular Korean online platform Naver, the film was
the top Korean film for advance ticket reservations in the afternoon of 27
November 2018. BOHEMIAN
RHAPSODY took the second
place. The booking sales of DEFAULT
was recorded as KRW786.9 million (or
US$ 0.7 million) as of 27 November 2018.
In addition to being
the producer of DEFAULT, the Group invested 10% of the film’s
total production budget. The estimated total production budget for DEFAULT, including prints and advertising costs, is approximately
KRW 9.7 billion (or USD 8.6 million).
CJ Entertainment is
the overseas distributor of DEFAULT.
Clover Films Pte. Ltd., a
Singapore-based film distributor, purchased the theatrical distribution rights
in Hong Kong, Macau, Singapore and Taiwan.
Starring Korean
superstar Yoo Ah-in of the Group’s associated company, Spackman Media Group
Limited, veteran actress Kim Hye-soo, Heo Jun-ho, Jo Woo-jin and French actor
Vincent Cassel, DEFAULT
depicts the behind-the-scenes story of
the tumultuous week leading up to the rescue package agreed upon between the
International Monetary Fund (“IMF“) and the Republic of Korea to prevent
bankruptcy during the 1997 Asian Financial Crisis.
In DEFAULT,
Yoo Ah-in plays a mega investor betting against the country’s fortunes. Kim
Hye-Soo acts as the leader of the monetary policy team at the Bank of Korea,
and French actor Vincent Cassel takes on the role of the managing director of
IMF. The film marks the first South Korean project of Vincent Cassel, who
starred in French independent films LA
HAINE and L’APPARTMENT, as well as Hollywood movies OCEAN’S TWELVE, OCEAN’S
THIRTEEN and BLACK SWAN.
Directed by Choi Kook-hee, DEFAULT was previously screened at the 71st Cannes
International Film Festival in May 2018.
For more information on DEFAULT and its English trailer, visit the Group’s website at http://www.spackmanentertainmentgroup.com/default-1.html.
The latest daily statistics from the
Korean Film Council on the performance of DEFAULT will be updated on the Group’s http://www.spackmanentertainmentgroup.com.
Recent media coverage on DEFAULT can also http://www.spackmanentertainmentgroup.com/news.html.
About Spackman Entertainment Group
Limited
website at be found at http://www.spackmanentertainmentgroup.com/news.html.
About
Spackman Entertainment Group Limited
Spackman Entertainment Group Limited (“SEGL” or the “Company“), and together with its subsidiaries,
(the “Group“), one of Korea’s leading
entertainment production groups founded by investment veteran, Mr. Charles
Spackman, is primarily engaged in the independent development, production,
presentation, and financing of theatrical motion pictures in Korea. In order to
diversify our revenue streams, in the second half of 2018, we will to expand
our business portfolio to include the production of Korean television dramas.
In addition to our content business, we also make investments into
entertainment companies and film funds that can financially and strategically
complement our existing core operations. SEGL is listed on the Catalist of the
Singapore Exchange Securities Trading Limited under the ticker 40E.
SEGL’s Zip Cinema Co., Ltd. (“Zip Cinema“) is one of the most recognised film production
labels in Korea and has originated and produced some of Korea’s most
commercially successful theatrical films, consecutively producing 8 profitable
movies since 2009 representing an industry leading track record. Recent
theatrical releases of Zip Cinema’s motion pictures include some of Korea’s
highest grossing and award-winning films such as MASTER (2016),
THE PRIESTS (2015), COLD EYES (2013),
and ALL ABOUT MY WIFE (2012). For more information on Zip
Cinema, do visit http://zipcine.com
SEGL also owns Novus Mediacorp Co.,
Ltd. (“Novus Mediacorp“), an investor, presenter, and/or
post-theatrical distributor for a total of 76 films (53 Korean and 23 foreign)
including ROSE OF BETRAYAL, THE
OUTLAWS and SECRETLY, GREATLY, which was one of the biggest box
office hits of 2013 starring Kim Soo-hyun of MY LOVE FROM THE STARS fame,
as well as FRIEND 2: THE GREAT
LEGACY. In 2012, Novus
Mediacorp was also the post-theatrical rights distributor of ALL ABOUT MY WIFE, a top-grossing romantic comedy
produced by Zip Cinema. In 2018, THE
OUTLAWS, co-presented by
Novus Mediacorp broke the all-time highest Video On Demand (“VOD“) sales records in Korea. Novus Mediacorp is currently in
the process of seeking a listing on the Singapore Stock Exchange. For more
information on Novus Mediacorp, do visit http://novusmediacorp.com
Our films are theatrically distributed
and released in Korea and overseas markets, as well as for subsequent
post-theatrical worldwide release in other forms of media, including cable TV,
broadcast TV, IPTV, video-on-demand, and home video/DVD, etc. We release all of
our motion pictures into wide-theatrical exhibition initially in Korea, and
then in overseas and ancillary markets.
We also operate a cafe?-lounge called
Upper West, in the Gangnam district of Seoul and own a professional photography
studio, noon pictures Co., Ltd..
The Company holds an effective
shareholding interest of 43.88% in Spackman Media Group Limited (“SMGL“). SMGL, a company incorporated in Hong Kong, together with
its subsidiaries, is collectively one of the largest entertainment talent
agencies in Korea in terms of the number of artists under management, including
some of the top names in the Korean entertainment industry. SMGL operates its
talent management business through renowned agencies such as MS Team
Entertainment Co., Ltd., UAA & Co Inc., Fiftyone K Inc., SBD Entertainment
Inc., and Kook Entertainment Co., Ltd. Through these full-service talent
agencies in Korea, SMGL represents and guides the professional careers of a
leading roster of award- winning actors/actresses in the practice areas of
motion pictures, television, commercial endorsements, and branded
entertainment. SMGL leverages its unparalleled portfolio of artists as a
platform to develop, produce, finance and own the highest quality of
entertainment content projects, including theatrical motion pictures, variety
shows, and TV dramas. This platform also creates and derives opportunities for
SMGL to make strategic investments in development stage businesses that can
collaborate with SMGL artists. SMGL is an associated company of the Company.
The Group owns a 100% equity interest
in Frame Pictures Co., Ltd. (“Frame
Pictures“). Frame Pictures is
a leader in the movie/drama equipment leasing business in Korea. Established in
2014, Frame Pictures has worked with over 25 top directors and provided the
camera and lighting equipment for some of Korea’s most notable drama and movie
projects including the upcoming Korean film GIRL COPS (2018)
featuring rising star Wi Ha-jun of SMGL and THE GREATEST DIVORCE (2018)
starring Bae Doona of SMGL.
In 2018, Frame Pictures has also won
contracts to supply equipment to THE
BEAUTY INSIDE (2018), HUNDRED MILLION STARS FROM THE SKY (2018), LOVELY HORRIBLY (2018),
THE GUEST (2018), historical Korean movie MALMOI, SUITS
(2018) featuring Park Hyung-sik of
SMGL, MISTRESS (2018), LIFE (2018),
LIVE (2018) starring Lee Kwang-soo of RUNNING MAN, MY
MISTER (2018) and Netflix’s
first Korean original production LOVE
ALARM (2018). Frame
Pictures and Novus Mediacorp are currently seeking to list on the Singapore
Stock Exchange.
The Company owns a 100% equity interest
in Take Pictures Pte. Ltd. (“Take
Pictures“) which has a strong
lineup of 10 film projects including STONE
SKIPPING and the co-production
with Zip Cinema for THE
PRIESTS 2.
The Company owns a 100% equity interest
in Constellation Agency Pte. Ltd. (“Constellation
Agency“). Constellation
Agency, which owns The P Factory Co., Ltd. (“The P Factory“)
and Platform Media Group Co., Ltd. (“PMG“), is primarily involved in the
business of overseas agency for Korean artists venturing into the overseas
market. The P Factory is an innovative marketing solutions provider
specializing in event and branded content production. PMG is a talent
management agency which represents and manages the careers of major artists in
film, television, commercial endorsements, and branded entertainment.
The Company owns a 100% equity interest
in Greenlight Content Limited which is mainly involved in the business of
investing into dramas and movies, as well as providing consulting services for
the production of Korean content.
On 7 May 2018, the Company announced
that it would spin-off Novus Mediacorp and Frame Pictures into a combined entity
to seek listing on the Catalist Board of the Singapore Exchange Securities
Trading Limited to exploit the growing post- theatrical and camera equipment
leasing markets.For more details, do visit http://www.spackmanentertainmentgroup.com/
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