Studio Dragon’s streaming episodes plummeted 58% in the second quarter of this year to eight, while TV episodes fell 47% to 34 in the three months to end June, the  Korean production giant said in its latest earnings report.

Overall, the number of episodes aired in the quarter fell just under 50% to 42 from 83 in the same quarter last year.  

Meanwhile, sales of “old library” titles soared 139% during the quarter, with second-window sales outstripping first window revenue for the first time in five quarters.  

The increased licensing revenue came from, among other regions, Japan and Southeast Asia. 

Revenue for the quarter was down 16.1% to KRW137.1 billion/US$100 million  – the lowest in five quarters – with the bulk coming from overseas. 

Studio Dragon’s biggest titles during the quarter were "Queen of Tears" and "Sweet Home" season three. 

The company reported a 35.7% drop in operating profit for the quarter to KRW10.5 billion/US$7.7 million. 

Net profit was down 20% year on year to KRW8.2 billion/US$6 million for the quarter, but stable at KRW28.3 billion/US$20.6 (down 0.8%) for the first half of the year. 

Studio Dragon listed three new titles on its Q3 line up – "Love Next Door" for tvN and Netflix (17 August); the seven-episode "Gyeongseong Creature 2" for Netflix; and "To My Haeri" for ENA. 

Studio Dragon’s share price is down 31.55% year to date.