SOOP Reports Operating Profit of 33.3 Billion KRW in Q2... Highest Quarterly Performance

Record High Sales and Operating Profit
Platform and Advertising Growth Drive Performance

SOOP achieved record-high quarterly sales and operating profit.

SOOP announced on the 31st that its consolidated sales and operating profit for the second quarter of this year reached 106.5 billion KRW and 33.3 billion KRW, respectively. Sales increased by 23% and operating profit by 41% compared to the same period last year.

Both platform and advertising revenues grew evenly, driving the performance increase. Platform revenue was recorded at 82.8 billion KRW, a 27% growth compared to the same period last year. During this period, advertising revenue increased by 13% to 22.7 billion KRW.

In the first half of the year, SOOP launched new participatory services such as the eSports tournament service "GGGL (Good Game, Good Luck)," which allows all streamers and users to directly host tournaments regardless of platform. Additionally, various support programs were established, including rental support for an "optical motion capture studio" to help virtual streamers continue their platform activities stably, and hosting eSports tournaments.

As a result, indicators reflecting streamer and user platform activity grew evenly, with the average number of simultaneous broadcasts in the second quarter increasing by 6% compared to the previous year. The average number of simultaneous viewers rose by 11%, and the average monthly user viewing time increased by 24%.

SOOP plans to undertake new branding in the third quarter, including changing the service name of the domestic live streaming service AfreecaTV, and revamping the user interface and user experience (UI/UX). While continuing to secure broadcasting rights for sports and eSports, SOOP also plans to prepare various original content unique to SOOP.

Jung Chanyong, CEO of SOOP, said, "We will continuously strengthen the open platform community ecosystem with various streamers to sustain the fundamental growth of the live streaming platform. As a market-leading platform, we will maintain technological superiority and establish long-term growth drivers through new branding of domestic services and expansion of global platform services."