SM Pictures

SM Pictures Co., Ltd.
Native name
Hangul
에스엠픽쳐스
FormerlyBitwin
Company typePublic
KRX: 066410
FoundedFebruary 5, 1999; 25 years ago (1999-02-05)
DefunctJune 2008 (2008-06)
FateAcquired by Premiere Entertainment
SuccessorPRE
Headquarters4–5F, Dongshin Building, 600-2,
Sinsa-dong, Gangnam, Seoul
,
South Korea
Key people
Han Se-min (CEO)
Services
OwnerSM Entertainment (33.94%)
Footnotes / references
[1][2]

SM Pictures (Korean: 에스엠픽쳐스) was a South Korean DVD distribution and film import company under SM Entertainment. It was founded on February 5, 1999, as Bitwin under Arcom Studio and was later acquired by SM before its company renaming. The company consequently closed down after losses, and by June 13, 2008, SM had transferred its remaining stake to Premier Entertainment (later PRE-GM and Candle Media).

History

[edit]

1999–2007: Establishment and acquisition by SM Entertainment

[edit]

Arcom Studio commenced on February 5, 1999, under the name Bitwin, with the company carrying out its name in the industry by producing DVDs for Korean movies for the first time in Korea. The DVDs produced at the time were Whispering Corridors (1998), Shiri (1999), and The Spy (1999). The company then drew investments from Samsung Venture, Dongyang Investment Bank, and Kibo Capital, succeeding in being a listed company on the KOSDAQ in 2003.[3] On March 16, 2007, Bitwin held a shareholders' meeting and announced that it would change its name to SM Pictures after being acquired by SM Entertainment and foster its "global" video business.[4][5] The DVD production and distribution company appointed Han Se-min, then general director of SM Entertainment's IR and global business and co-representative of Bitwin, as its sole chief executive officer (CEO).[6]

SM Pictures have planned to partake in the production and investment of video products such as movies and dramas, as well as its existing DVD production and distribution business, which would lead to a more "functioning" video business.[7] The company has also intended to produce movies and dramas through self-production and co-production, making "high-quality" video content by securing "top-notch" professionals and developing its business areas throughout the local and international film industry exports and imports. SM would independently or jointly produce video content through the company and supply it through different platforms. Additionally, it had prepared to develop into the international distribution business of movies and dramas by securing major distribution channels in the Americas, Japan, China, and Pan-Asia through overseas partners.[8] On May 15, 2007, KTH announced that it had signed a copyright contract with the company for video content to be delivered through new media and online channels, with secured internet copyrights for the theater drama Vacation (2006) and the movie The Painted Veil (2006), owned by SM Pictures.[9][10] The company had also signed a full-licensing contract with 20th Century Fox in Korea and had scheduled to release 17 titles.[11]

In November 2007, SM Pictures announced that it would carry out a paid-in capital increase of 16.9 billion won to acquire childhood education company Kinder Schule, which resulted in the company's stock price hitting the upper limit.[12] In November 2007, SM Pictures announced that it would carry out a paid-in capital increase of KRW 16.9 billion to acquire childhood education company Kinder Schule. The stock price of the company had hit the upper limit all at once. By December 4, it has decided to cancel and withdraw the decision to raise capital for the educational project through third-party allocation. The company revealed that the two involved companies had "disagreements that could not be narrowed down," which failed acquisition negotiations. Moreover, the KOSDAQ Market Headquarters of the Stock Exchange allocated a preliminary notice of designation as an unfaithful disclosure corporation for SM Pictures, which inverted its disclosure on the same day.[13] Eventually, Kinder Schule was acquired by SH Tech.[14]

2008–2009: Closure and acquisition by Premiere Entertainment

[edit]

SM Pictures' first film, Attack on the Pin-Up Boys (2007), mobilized only about 102,600 viewers; however, with a net production cost of 850 million won, excluding printing and marketing costs, about 240,000 moviegoers had to see the movie to avoid losses. Still, less than half of that audience watched the film and suffered a defeat at the box office.[15] The company closed down after failing to achieve [satisfactory] results for its film.[16] On June 13, 2008, SM Entertainment then transferred its 33.94% stake in SM Pictures to Premier Entertainment to reorganize its business structures.[17] SM has transferred 5.15 million shares of the company to Premier for 15.24 billion won to recover investment funds.[18] Lee Soo-man also sold his 5.6% share in the company to Premier for 2.5 million US dollars, giving Premiere control of over 40% of the company and changing SM Pictures's name to PRE.[19]

Production works

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List of production works showing the year, title, and associated production
Year Title Associated production Ref.
2007 Attack on the Pin-Up Boys Pollux Pictures [20][21]

References

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  1. ^ 네이버 기관단체사전 : 기업 – (주)프리지엠 [Naver Organizational Dictionary: Company – Pre.GM Co., Ltd.]. Naver Encyclopedia of Knowledge (in Korean). Archived from the original on January 30, 2023. Retrieved January 30, 2023.
  2. ^ 영화제작사 – SM픽쳐스 [Film Production Company – SM Pictures]. Korea Film (in Korean). Archived from the original on September 9, 2010. Retrieved January 31, 2023.
  3. ^ Choi, Hee-joo (December 7, 2018). 양진호의 뮤레카 빈자리 채울 '아컴스튜디오' 살펴보니… [Taking a Look at Arcom Studio, Which will Fill the Vacancy of Yang Jin-ho's Mureka…]. Ilyo Shinmun (in Korean). Archived from the original on December 14, 2018. Retrieved January 30, 2023.
  4. ^ Cha, Seok-rok (March 16, 2007). 비트윈, S.M픽쳐스로 상호변경 [Bitwin, Changes its Name to S.M Pictures]. Financial News (in Korean). Archived from the original on January 30, 2023. Retrieved January 30, 2023.
  5. ^ Jeon, Hyung-hwa (June 26, 2007). SM픽쳐스, 벌써 영화계 큰 손? 충무로 관심집중 [SM Pictures, Is Already a Big Shot in the Movie Industry? Attention is Focused on Chungmuro]. StarNews (in Korean). Archived from the original on January 30, 2023. Retrieved January 30, 2023.
  6. ^ Yoo, Sang-woo (March 16, 2007). 비트윈, SM픽쳐스로 재탄생 [Bitwin, Reborn as SM Pictures]. Newsis (in Korean). Archived from the original on January 30, 2023. Retrieved January 30, 2023 – via Naver.
  7. ^ 비트윈, 사명 에스엠(SM)픽쳐스로 변경, 대표이사에 한세민씨 [Bitwin, Changed Its Name to SM Pictures, CEO Han Se-min]. The Korea Economic Daily (in Korean). March 16, 2007. Archived from the original on January 30, 2023. Retrieved January 30, 2023.
  8. ^ [코스닥 엘리트] S.M. 계열사는? [[KOSDAQ Elite] Which S.M. Affiliate?]. Digital Times (in Korean). May 7, 2007. Archived from the original on January 30, 2023. Retrieved January 30, 2023.
  9. ^ Kim, Hyun-ah (May 15, 2007). KTH, SM픽쳐스 영상콘텐츠 판권 확보 [KTH, Secures the Copyright of SM Pictures Video Contents]. Inews24 (in Korean). Archived from the original on January 30, 2023. Retrieved January 30, 2023.
  10. ^ Kim, Hee-jung (May 15, 2007). KTH, SM픽쳐스와 영상 콘텐츠 판권 계약 [KTH Signs Video Content Copyright Agreement with SM Pictures]. Money Today [ko] (in Korean). Archived from the original on January 30, 2023. Retrieved January 30, 2023.
  11. ^ Lee, Jung-hoon (April 28, 2008). 차세대 DVD표준 '블루레이' 알리기, 업계 힘모았다 [Promoting 'Blu-ray' of Next-generation DVD Standard, Industry has Joined Forces]. Edaily [ko] (in Korean). Archived from the original on January 31, 2023. Retrieved January 31, 2023.
  12. ^ Jeon, Kyung-won (December 19, 2007). [기자수첩]만만한 교육시장 [[Reporter's Notebook] Easy Education Market]. Electronic Times (in Korean). Archived from the original on January 31, 2023. Retrieved January 31, 2023.
  13. ^ Ahn, Hyun-deok (December 4, 2007). 에스.엠.픽쳐스，유상증자 철회 [S.M. Pictures, Withdraws Paid-in Capital Increase]. Financial News (in Korean). Archived from the original on January 31, 2023. Retrieved January 31, 2023.
  14. ^ Lee, Mi-ah (February 5, 2008). 킨더슐레, 3修만에 코스닥 입성 [Kinder Schule, Enters KOSDAQ for the First Time in 3 Years]. The Korea Economic Daily (in Korean). Archived from the original on January 31, 2023. Retrieved January 31, 2023.
  15. ^ Yoo, Sook (March 12, 2008). 슈퍼주니어 주연 '꽃미남..', 극장 흥행 손해 DVD로 만회 [Super Junior's 'Flower Boys..', Made Up for the Theater's Box Office Loss with DVD]. Edaily [ko] (in Korean). Archived from the original on March 30, 2022. Retrieved January 31, 2023 – via Daum.
  16. ^ Ko, Kyung-seok (June 12, 2015). H.O.T 동방신기 엑소… 엔터테인먼트 기업화의 선구자 [H.O.T TVXQ EXO… Pioneer in Entertainment Enterprise]. Hankook Ilbo (in Korean). Archived from the original on October 17, 2022. Retrieved January 31, 2023 – via Naver.
  17. ^ Lee, Yul (June 13, 2008). SM엔터테인먼트, SM픽쳐스지분 34% 전량 양도 [SM Entertainment, Transfers 34% of SM Pictures' Shares]. Yonhap News Agency (in Korean). Archived from the original on February 1, 2023. Retrieved January 31, 2023 – via Naver.
  18. ^ [코스닥 공시] 팍스메듀 / 엔디코프 / 인피트론 등 [[KOSDAQ Announcement] Pax Medu / Endycough / Innpitron, Etc.]. Maeil Business Newspaper (in Korean). June 13, 2008. Archived from the original on February 1, 2023. Retrieved January 31, 2023.
  19. ^ Han, Sun-hee (July 30, 2008). "SM Pictures sold to Premiere". Variety. Archived from the original on January 31, 2023. Retrieved January 31, 2023.
  20. ^ Song Sun-ok (11 June 2007). 에스엠픽쳐스, 슈퍼주니어 주연 '꽃미남연쇄테러사건' 제작 [SM Pictures produces 'Attack On the Pin-Up Boys' starring Super Junior]. Media Watch (in Korean). Archived from the original on 27 January 2020. Retrieved 27 January 2020.
  21. ^ Jeon Sang-hee (27 July 2007). '꽃미남 연쇄 테러사건' 전국 100여개 극장 무대인사 대장정 [Stage greetings of 'Attack on the Pin-Up Boys' in 100 theaters nationwide]. Chosun (in Korean). Archived from the original on 27 May 2021. Retrieved 1 February 2020.
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