The Japanese animation “Demon Slayer: Mugen Train” continues to be a box office success with outstanding performance this year, increasing interest in its distributor, Aniplus. Although its stock price is experiencing a downward trend due to profit-taking sell-offs, the securities industry anticipates that the prolonged success could lead to an increase in revenue models through intellectual property (IP) utilization.
On the 26th, according to the Korea Film Council’s integrated computer network, as of the 25th, “Demon Slayer” recorded a cumulative audience of 1,864,699. Having attracted over 500,000 viewers on its first day of release on the 22nd, it has maintained the top spot at the box office for four consecutive days. Considering the trend of attracting 215,471 viewers the day prior, the film is expected to reach 2 million viewers within five days.
“Demon Slayer” has already set the highest opening score of the year and the highest opening record for a Japanese animation with 920,000 pre-sale tickets.
Interest now lies in whether it will achieve the highest number of viewers for a Japanese animation. The current record-holder is “Suzume’s Door-lock,” released in March 2023, with 5.58 million viewers. It is followed by “The First Slam Dunk” released in January the same year with 4.9 million, “Your Name” in 2017 with 3.67 million, “Howl’s Moving Castle” released in 2004 with 3.02 million, and “Demon Slayer: Mugen Train” in 2021 with 2.19 million. Adding the viewership of the two “Demon Slayer” films together, it is poised to surpass “Your Name” and rival “Slam Dunk.”
Meanwhile, the highest-grossing animations of all time are “Frozen” films, with “Frozen 2,” released in 2019, drawing 13.75 million viewers and “Frozen 1,” released in 2014, drawing 10.30 million viewers, standing at the top of the box office.
Despite ongoing interest in “Demon Slayer,” Aniplus’s stock, listed on KOSDAQ, has remained stagnant around 5,800 for a month since July 11. It briefly hit 6,430 during the session on the 21st, right before the release, but plummeted due to massive sell-offs.
That day, it closed 4.21% lower at 5,000, continuing a two-day downward trend following a 3.15% drop the previous day. Starting at 2,580 at the beginning of the year, Aniplus’s stock has already doubled, with predictions that many will liquidate their earnings.
Nonetheless, the securities industry remains hopeful about Aniplus’s growth. DS Investment Securities issued a “buy” rating with a target price of 7,500, forecasting an annual consolidated revenue of 112.6 billion won, a 33% increase compared to the previous year, citing animation IP leverage, theater growth, and hidden value as investment points.
DS Investment Securities analysts Jang Ji-hye and Kang Tae-ho stated, “The leverage effect of animation IP is expanding through vertical and horizontal integration, and by expanding overseas distribution, especially in Southeast Asia, and full-scale animation production business, the content leverage effect is expected to expand further.”