wwwhantutamscom Analyst 02-789-4419 shhan@kitccokr 10/18/2000 [summary] - 2 5 25 100 20-99 98 59% 3,740 2000-2000 MP3-90% OEM, 2 OEM - OEM,, - 3D,,
1 99 (IFPI) 99 385 MP3 98 99 98 59% 15% 5 3,740 8% 7% MP3 CD 98 20% MC, LP, SINGLE 65%(240 ) CD MC 70% 993,740 385 1% 95~ 97 41% IMF 983,530 97 574 98 2000 GDP 2001 2000 5,000 [ 4,000 3,000 2,000 1,000 0 1995 1996 1997 1998 1999 )
2 PD maker,, 50%, 15-20% [ 1-2] :PD maker 500 450 400 350 300 250 200 150 100 50 0 [ 1995 1996 1997 1998 1999 2000 )
3 3 4 15, (,, ) [ 1-4] ) : ( 97)
4 5 100 20 10 1 2-3, 50:50 2 5 2,400 25 5 100 20 6 [1-1], ( ) ( ) CD: 6,600 MC:3,300 ( ) CD: 800 MC: 500 ( ) CD: 5,200 MC: 2,800 ( ) 4,000 2 : 5 ) ( :)
5 90 5 40-45% 98 70%,,, PC MP3 MP3 CD MP3 99 MP3 MP3 MP3 MP3 [ 1-5] 3 TV,,,
6,,,, KC, DSP,, 8 (34 1,000 ), 2000 2001
(38810),, 1,, O15B, 93,, [1-2] 1993 015B 4 50, 23, NEXT1 1994 240, 130 3, LIVE 1995 535, 3 1996 250, 015B best collection 1997 30, 3 1998 140, 4, 1999 260 2000 3, 3 ) 80, 20008 50 17 (8), (6), (5), (4) 5,, ( / ) PD maker 50% ( 99 313 ), 1 66 81 82-90 90-92 92-93 93~
[ 1-6] MAJOR SONY EMI โ ( : 20%) โ PD MAKER 2 ( : 50%, ) SM DSP M GM ENT HOT SES 015B 4 B ( ) ) IMF 2 2000 97 32 1834% 90 2000,, 2000 38 10 3, 2000 99 305% 118 99 2000 10 (500 ), 343%, 73% 416% EPS ( :,,, %) 5,000 9812 32 1 2 0 - - (10/16) 69,100 9912 90 1836 15 14 11 9,929-14 0012(E) 118 305 15 15 11 4,546 152 195 0112(E) 145 229 18 19 13 4,799 144 PER 2,,
(41510),, ( ) HOT, SES,, Flytothesky TV,,, HOT, SES, 20 TV ( 1 43 ),, 18% 40% AVEX, TV-ASAHI MUSIC, Victor Entertainment 2000 2 [1-3] AVEX 98 Vitor Entertainment 95 ) 20 99 WAWA
( :,) 200 30 23,334 1170% 153 10 6,667 205% 10 02 833 666% 100 20 39,167 1960% 56 20 80,000 716% TV 85 70 140,000 820% 45 ) 2000 197 2000 2000 HOT 5, SES 4 HOT SES 2000 99 303%, 161% 163, 36 EPS ( :,,, %) 500 9812 53 2330 13 13 9 9,188 - (10/18) 12,550 9912 125 1349 43 42 31 1,308-15 0012(E) 163 303 48 52 36 1,333 94 377 0112(E) 180 104 49 53 37 1,233 102 PER
1, 10 TV,,,,,, High Risk High Return 1200 1000 800 600 400 200 0 ) ( 991025) [ 2-2] TV ) ( 97 7 29)
3, (Pre- Production), (Production),, (Post-Production) [2-1] 2~3, 1, ( ) 1 3,4 ( ) ( ) /, 2 (Pre-Production),,, (Production) 90%,, OEM 2,,, 3,,
, TV,, 30~50% TV 250, 1~2, 2 1~2, 2 8~10% 1998 1999 2000 2001 1,089 980 882 794 60 100 300 600 1,149 1,080 1,182 1,394 video/cable 3,000 3,500 4,000 5,000 2,000 3,000 4,000 5,000 1,500 2,000 3,000 4,000 6,500 8,500 11,000 14,000 7,649 9,580 12,182 15,394 ) [ ('97) [ ('97) 11% 7% 9% 50% 5% 10% 15% / 40% 23% 30% )
3 736, TV 50 60-70 3:6 2:7, [ 1800 1600 1400 1200 1000 800 600 400 200 0 1993 1994 1995 1996 1997 1993 1994 1995 1996 1997 8,940 13,320 8,030 7,410 20,850 1 2,500 2,630 1,850 1,600 10,700 (280) (197) (230) (216) (513) 1 ) 4 NON SEX, NON AGE, NON GENERATION MUTIPLE SHOP 3,
(, ) M/S 1 150 66, 70% 95 40~50%, 15~18%, 20%, 5% 99 60% 35% 16 3% (5000 ) 90% 3~12%,,
(37120) OEM 95 99 273% TV 20006 210, 367, 118695 35 (20006 55 ) 20005 Mondo TV 137 TV (QUOVADIS, 52, 23 )170 Turandot (90) 4 25 TV 20009 CEO FILM 613 2001 1~2 ( 21 FoxKids, Mondo, EMTU, Public&Basic ) Anyplus( 50 ) CB 2000208 20006 200 CB9 200010 CB (115,503, :6,320) 9922 53 242 ( : 200083~2003530) ( :,,, %) EPS PER 500 9806 71 407 10 7 5 253 - (10/17) 4,670 9906 87 227 18 15 11 390-53 0006 101 161 30 36 26 301 155 497 0106(E) 200 980 60 70 50 472 100
(39530) OEM OEM OEM,,,, 26 1 1,500, WOW TV, 1/3 2001 ( ) 9 TV ( 52 ) 2000 1~2 2001 ( 4,000 90%), 3D XENN XENN20003JASDAQ ( : 98 : 1, 76, 10 ), ( : :,, 98 : 1, 48, 7 ), ( : 98 : 5 : 13, 2 ) 2001 2000 2001 EPS ( :,,, %) 5,000 9812 168-236 28 21 22 43,058 - (10/17) 66,500 9912 201 197 30 26 19 6,300-28 0012(E) 210 45 30 31 24 4,364 152 366 0112(E) 250 190 35 36 27 4,909 135 PER