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Korean content providers' shares are emerging as some of the best to buy as competition heats up among global over-the-top (OTT) services such as Netflix Inc. to release popular webtoon-turned Korean dramas on their platforms.

On the back of the growing popularity of K-content amid the COVID-19 lockdown, shares of content providers are posting decent gains as investors bet on industry expectations that they will generate a steady stream of revenue.

AStory Co., the Kosdaq-listed drama producer behind blockbuster zombie series Kingdom sponsored by Netflix, has risen more than 80% in the past month to trade at a record high level of 48,000 won on Jan. 20. Its market capitalization has risen beyond 400 billion won ($364 million).

Analysts say hopes of another blockbuster are boosting its shares, with the release of its next series Jirisan, starring Korean superstars Jeon Ji-hyun and Joo Ji-hoon, in the second half of 2021.

“Jirisan will be another tentpole drama for AStory; a major earner for the company as the video was sold to overseas OTTs other than Netflix with a cost recovery ratio of more than 70%,” said NH Investment & Securities analyst Lee Hwa-jung. “The sale proves AStory’s capability as a sales agent as well as a good content maker.”

According to market tracker FnGuide, market consensus for AStory’s 2021 operating profit has risen to 17.4 billion won from about 10 billion won three months earlier, as the company is expected to release at least one megahit series a year.

Shares of NEW, formerly known as Next Entertainment World, which produced the film Peninsula and webtoon-based supernatural drama Moving, have risen 27% so far this year.

More recently, webtoon-based Korean TV series dramas like Sweet Home, The Uncanny Counter, and Itaewon Class are capturing the hearts of global K-drama fans.

Studio Dragon Corp., the drama-making wing of South Korean entertainment giant CJ ENM, has risen 15% so far this year from the end of 2020.

Its apocalyptic horror series Sweet Home, based on the webtoon of the same name, has been one of the most successful Netflix originals created in South Korea.

Shares of KidariStudio Inc. are trading up 3.8% at 15,200 won on late Wednesday after surging more than 20% the previous day. The stock has gained more than 55% this year.