SAMG Entertainment Diversifies Markets: Aims to Maximize Profits with ‘Heartsping: Teenieping of Love’ MD Sales and China Release
– Collaborations with Leading Franchises and F&B Companies, Including GS Retail, to Sell Exclusive Products for the Teenieping feature film
– ‘Heartsping: Teenieping of Love’ Set for Release in China, Toys to be Distributed through Guangzhou Subsidiary
SAMG Entertainment Co., Ltd. (CEO Kim Soo-hoon, hereinafter referred to as SAMG Entertainment) is accelerating its efforts to enhance profitability through a market diversification strategy. SAMG Entertainment announced on 11th July that it will sell merchandise related to the IP of the movie ‘Heartsping: Teenieping of Love’ in collaboration with well-known franchises and food and beverage companies, including GS Retail.
‘Catch! Teenieping,’ which has surpassed 700 million global views and achieved a TV viewership rating of over 20%, is generating high expectations as a major summer hit with its first movie, ‘Heartsping: Teenieping of Love,’ slated for release this August.
SAMG Entertainment plans to capture both box office revenue and merchandise sales by launching more than ten new toy products in conjunction with the film’s release. Additionally, this movie’s merchandise lineup will include various products available in retail stores, such as the new toy releases, and ‘Heartsping: Teenieping of Love Popcorn,’ which will be sold at GS25 stores nationwide, as well as in cinemas and large franchise stores.
The distribution of ‘Heartsping: Teenieping of Love’ is being handled by Showbox, which is garnering significant attention. Showbox, which surpassed 10 million viewers with this year’s movie ‘Exhuma,’ is also known for its success with the Japanese animation ‘Suzume’ last year, which broke 5.5 million viewers in South Korea, achieving the highest domestic box office record for a Japanese animation. Showbox has chosen ‘Heartsping: Teenieping of Love’ as its first domestic animation distribution, signaling its intent to continue its successful box office streak this year.
Moreover, ‘Heartsping: Teenieping of Love’ is set to be released in China. Similar to the domestic market, the toy MD products will be sold locally through SAMG Entertainment’s Guangzhou subsidiary.
An official from SAMG Entertainment commented, “The Chinese film market size in 2023 is estimated at approximately $7.3 billion, almost recovering to pre-COVID levels, and is about eight times the size of the Korean market. Last year, the annual sales of the Chinese subsidiary were about $6 million, but this year, we have already recorded nearly $3.7 million in sales in the first quarter alone.” The official added, “This indicates that Teenieping has gained significant recognition in the Chinese market, and we expect to secure even greater revenue through the movie’s box office performance and merchandise sales,” expressing optimism for increased global earnings.