SOOP's Q3 Sales Increase 25% to 110 Billion KRW... Balanced Growth in Platform and Advertising

Streaming platform SOOP announced on the 31st that its revenue for the third quarter of this year, based on connection, increased by 25% compared to the same period last year, reaching 110 billion KRW. Operating profit for the same period was recorded at 23.9 billion KRW, a 9% increase.

SOOP stated that both platform revenue and advertising revenue grew steadily, leading to improved performance. Platform revenue reached 82.6 billion KRW, a 27% increase from the same period last year, as the platform ecosystem became more active with an increase in new streamers, average concurrent broadcasts, and average concurrent viewers. Advertising revenue increased by 22% to 26.2 billion KRW.

SOOP strengthened its open platform community ecosystem. While presenting original content that anyone can participate in, it also secured broadcasting rights for several events such as the Paris Olympics, the eSports World Cup (EWC), and the AFC Champions League, providing new content.

In the fourth quarter, SOOP plans to further strengthen its unique live streaming ecosystem through new branding of its domestic live streaming service and revamping the user interface (UI) and user experience (UX). Additionally, it aims to expand communication opportunities between streamers and users by increasing sports and eSports broadcasting rights and producing various original content.

Jung Chanyong, CEO of SOOP, said, "SOOP is focusing on creating an ecosystem where streamers and users can grow together as a platform that anyone can freely participate in," adding, "To this end, we plan to participate in G-Star 2024 next month to showcase various programs and content."

He also added, "Through branding in the domestic market, we will not only demonstrate SOOP's differentiated value but also prepare new growth engines by expanding services to the global market."