Spackman Entertainment

March CPI eases on lower power prices; Best World not having the best of times

SINGAPORE (Apr 29): The Department of Statistics on April 23 released the Consumer Price Index (CPI) for March. Core inflation, which excludes housing and private transport costs, has eased to 1.4% from 1.5% in February. The slightly lower inflation is attributed to softer increases in electricity and gas tariffs, which offset the pickup in services and food inflation.

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Spackman sinks deeper into the red in 2Q with $2.1 mil loss

SINGAPORE (Aug 15): Spackman Entertainment Group reported a loss of US$1.5 million ($2.1 million) for the 2Q ended June, widening from its 2Q17 loss of US$0.2 million on lower revenue and higher general & administrative expenses.

This brings the group to a loss of US$0.6 million for 1H18, compared to earnings of US$5.2 million a year ago.

Revenue for the latest quarter fell 32% on-year to US$1.7 million from US$2.4 million previously due to lower contributions from the production of films.

Spackman secures camera contract worth $0.68 mil for 2 major Korean dramas

SINGAPORE (Apr 4): Spackman Entertainment announced that its wholly-owned subsidiary, Frame Pictures, has secured contracts to supply camera systems and equipment for two major Korean dramas, Live and My Mister.

The total contract value for the two deals tentatively stands at KRW 550 million ($0.68 million), subject to changes in final filming schedule.

The two Korean dramas are currently broadcasted on a pay TV channel in Korea, tvN.

Spackman swings back to the black in FY17

SINGAPORE (Feb 28): Spackman Entertainment has swung back to profitability in FY17, posting earnings of US$2.98 million ($3.93 million), compared to a loss of US$2.43 million in FY16.

Revenue for the full year ended Dec 31 2017 was 36% higher at US$20.6 million from US$15.1 million a year ago.

Spackman says movie Golden Slumber successfully sold across Asia and US

SINGAPORE (Feb 20): Spackman Entertainment Group says that its manhunt thriller film, Golden Slumber, produced by its indirect wholly-owned subsidiary Zip Cinema, was sold internationally across various regions in Asia, Australia, New Zealand and US.

The distribution rights of the movie were purchased by Taiwan (Movie Cloud), Hong Kong (Megaton), India (MVP) and Australia and New Zealand (JnJ Entertainment).

Spackman appoints director Richard Lee as interim CEO

SINGAPORE (Jan 18): Spackman Entertainment today announced that Richard Lee, current director of Spackman Equities Group, will be appointed as the interim CEO and executive director of the group.

This came on the back of the group’s founder, Charles Choi Spackman (photo), resigning last month to pursue his other personal business interests.

See: Spackman founder Charles Spackman quits in management restructuring

Spackman Entertainment invests $611,000 in upcoming Korean film

SINGAPORE (Nov 20): Spackman Entertainment will be investing KRW500 million ($611,000) into upcoming Korean film, Now I Will Meet You, starring top actors Son Ye-Jin and So Ji Sub, who are both managed by the group’s associated company, Spackman Media Group (SMG).

Son Ye-Jin and So Ji Sub are represented by MS Team Entertainment and Fiftyone K (51k), respectively. MS Team and 51k are wholly-owned subsidiaries of SMG.

Spackman Entertainment sinks into the red

SINGAPORE (Nov 14): Spackman Entertainment announced that it made a loss of US$770,000 ($1.05 million) in 3Q17, compared to earnings of US$1.47 million in 3Q16.

Revenue for the quarter dropped by 35% to US$1.75 million from US$2.70 million a year ago, due to a decrease of US$1.85 million from production of films as the percentage-of-completion for Golden Slumber in 3Q17 was lower compared to that for Master in 3Q16.

The weaker topline was partially offset by an increase of US$0.82 million from leasing of equipment to third parties by Frame Pictures.

Spackman's Outlaws is surprise hit at Korean box office

SINGAPORE (Oct 10): The Outlaws, a South Korean crime action film co-presented by Spackman Entertainment Group’s 51%-owned subsidiary, Novus Mediacorp, has taken the top spot at the Korean box office for two straight days beginning from Sunday.

Novus Mediacorp owns the distribution rights of The Outlaws for the ancillary market in Korea.  

Spackman kicks off acquisition spree

SINGAPORE (Aug 16): RHB is maintaining its “buy” call on Spackman Entertainment with a target price of 23 cents following the group’s acquisition of Take Pictures, a startup film production company founded by veteran movie producer, Song Dae-Chan.

See: Spackman in discussions to acquire Korean film production company

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