Hana Securities on the 23rd confirmed the global launch of SOOP and emphasized the need to monitor traffic acquisition trends, maintaining a target price of 150,000 KRW and a 'Buy' investment rating.
Researcher Junho Lee stated, "The beta service for global SOOP is confirmed for June 5th," adding, "Pre-registration is currently available through Google Play and the App Store, and it is designed as a live streaming platform centered on eSports and gaming, featuring a UI/UX familiar to global users."
Lee said, "The key for global SOOP going forward is traffic acquisition," and revealed, "To secure initial traffic, global SOOP has disclosed the list of domestic and local streamers scheduled to broadcast."
He continued, "The main content is gaming, with domestic ambassador streamers including Faker (League of Legends), MuReup (Tekken), Buzz (Valorant), Ag-eo (Minecraft), and Esca (Overwatch, Battlegrounds). It is expected that after the service stabilizes and simultaneous interpretation services are provided by the end of June, full-scale simultaneous domestic and global broadcasting will take place."
He also added, "If simultaneous broadcasting proceeds, it will be possible to compare the number of domestic and global viewers of ambassador streamers, which could reflect expectations for the expansion of simultaneous broadcasting of domestic SOOP streamers. Additionally, if many streamers with local fandoms are recruited and their traffic is confirmed, the outlook for global SOOP is expected to rise further."
He concluded, "Currently, the stock price is believed to reflect concerns about a slowdown in traffic and advertising revenue growth despite strong first-quarter performance. However, if rapid traffic acquisition led by local streamers after June 5th and the synergy of simultaneous broadcasting with domestic streamers are confirmed, highlighting the value of global SOOP, a re-rating could be possible."
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
