Sales Reach 5.2 Trillion KRW, Up 20% Year-on-Year
Film and Drama Sector Grows by 56.1%
CJ ENM announced on the 12th that it achieved an operating profit of 104.5 billion KRW on a consolidated basis last year, successfully turning a profit. Sales reached 5.2314 trillion KRW, an increase of 19.8% compared to the previous year.
Sales in the media sector recorded 1.3732 trillion KRW, up 8.8% from 2023, thanks to the strong performance of tvN. In particular, Tving's annual sales, driven by differentiated content such as the broadcast of the '2024 KBO League' and an advertising-based video on demand (AVOD) subscription model, increased by 33.4% compared to 2023, reaching 435.3 billion KRW.
Sales in the film and drama sector reached 1.7047 trillion KRW, up 56.1% year-on-year, driven by strong content distribution business and the normalization of FIFTH SEASON's operations. It is analyzed that the simultaneous global platform airing of hit IPs and the continuous expansion of overseas package sales of the content library led the sales growth.
The music sector continued its growth momentum, recording annual sales of 702.1 billion KRW, supported by the strong performance of in-house artists and the successful debut of new global artists.
The commerce sector recorded annual sales of 1.4514 trillion KRW and an operating profit of 83.2 billion KRW. Sales and operating profit increased by 8.5% and 20.1%, respectively, thanks to the strengthening of mobile live commerce and the organic linkage between TV and e-commerce. In particular, the transaction volume of mobile live commerce rose 96% compared to the previous year and 132% compared to 2022. In October last year, the monthly active users (MAU) reached an all-time high since the launch of CJ OnStyle.
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