[Edaily Reporter KIM JI-WAN ] Forecasts indicate that dotmill Inc., an immersive media company, is set to post significant earnings growth next year, driven by large-scale immersive space projects and the expansion of its global intellectual property (IP) business.

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In a report published on the 28th, ARC Research estimated dotmill Inc.’s 2027 revenue and operating profit at 95 billion won and 15 billion won, respectively. The analysis suggests that orders from AeroSpace Technology of Korea, Inc. and the expansion of the Harry Potter IP business will drive this earnings growth.

Kim Yong-ho, an analyst at ARC Research, stated in the report, “It is important to note the possibility that dotmill Inc.’s earnings will enter a phase of high growth starting next year.”

Researcher Kim assessed that dotmill Inc. has secured a business foundation spanning the public sector (B2G), corporate sector (B2B), and consumer sector (B2C) based on its extensive experience in building immersive media environments. He also highlighted the company’s competitive edge in its ability to handle the entire business process in-house—from content planning and production to spatial design, construction, and actual facility operations.

The biggest growth driver is the immersive space platform “Astra Core.” This business delivers immersive content by combining video and audio in a large dome-shaped space, and the company aims to develop a domestic project similar in form to “The Sphere” in Las Vegas, USA.

dotmill Inc. is currently pursuing contracts for the Astra Core project with local governments and other entities. The company estimates the project scale to be approximately 30 billion to 60 billion won. If a contract is finalized within the year, related revenue is likely to be reflected in full starting in 2027.

Researcher Kim assessed, “If the commercial success of Astra Core is confirmed, a scenario in which consecutive contracts are secured based on these references is expected in the medium to long term.”

The company is also pursuing diversification of its revenue structure.

Dotmil Inc. is standardizing Astra Core’s hardware and software to reduce design and R&D costs incurred for each project, while also negotiating a plan to receive a portion of post-opening revenue—such as ticket sales, food and beverage (F&F), and merchandise sales—in the form of royalties. The strategy is to establish a structure that secures recurring revenue beyond one-time construction revenue.

Content businesses leveraging global IP are also expected to contribute to revenue growth. dotmill Inc. is pursuing projects that combine high-profile IP—including Harry Potter, One Piece, Dragon Ball, and Crayon Shin-chan—with immersive media content.

In particular, the company plans to launch the “Forbidden Forest Experience,” featuring the Harry Potter IP, this December at its own theme park, “Lunapol,” located in Jeju. ARC Research highlighted that such global IP businesses have the potential to generate higher profitability than the existing facility construction business.

ARC Research estimated that of dotmill Inc.’s projected 2027 revenue of 95 billion won, 45 billion won would come from Astra Core, 15 billion won from the Harry Potter IP business, and 35 billion won from existing and other businesses.

Researcher Kim assessed, “Added value is being created as IP is reinterpreted from ‘viewing’ to offline ‘experiences,’” adding, “dotmill Inc. is strengthening its role in this market.” He continued, “Operating profit is expected to increase to 15 billion won as the profitability of the global IP business expands, Astra Core revenue is reflected, and the burden of fixed costs is alleviated due to overall growth.”