Advertising Revenue Grows 49.5% Year-on-Year
AI Services to Be Further Advanced in the Second Quarter
On April 29, SOOP announced in a regulatory filing that its consolidated operating profit for the first quarter of this year was provisionally tallied at 32.744 billion KRW, up 14.8% from the same period last year.
During the same period, revenue increased by 14.1% to 107.7 billion KRW, while net profit rose by 9.5% to 27.1 billion KRW.
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By segment, platform revenue in the first quarter reached 84.9 billion KRW, up 7.9% year-on-year. Advertising revenue was 21.9 billion KRW, marking a 49.5% increase from the same period last year. SOOP explained that the expansion in demand from game companies had a positive impact on the increase in advertising revenue.
In the first quarter of this year, SOOP sequentially launched its proprietary artificial intelligence (AI) services based on large-scale video and real-time interactive data. These include SAVYG, an AI video generator that automatically creates content reflecting a streamer’s style; SOOPi, an AI video assistant that learns a streamer’s speech and facial expressions to recommend content; and SARSA, an AI manager that provides various features to support streamers’ content management and user participation in broadcasts.
In the second quarter, SOOP plans to launch a large-scale SOOP brand advertising campaign. Additionally, the company will further advance its previously introduced AI services, including new features for subscriptions. Through these efforts, SOOP aims to strengthen its business model based on platform services.
For the advertising segment, SOOP intends to collaborate with PlayD, a digital advertising agency acquired in March, to create synergies with its existing advertising business. For global expansion, the company plans to increase simultaneous streaming by streamers and, in Taiwan, to expand local content production and community building through partnerships with local partners.
Choi Youngwoo, CEO of SOOP, stated, "In the first quarter, we demonstrated the potential for SOOP service expansion, including steady domestic business growth, AI, and global simultaneous streaming." He added, "In the second quarter, we plan to create new business opportunities by expanding streamer and user communities through a large-scale branding campaign, continuously advancing our AI services, and strengthening connections with domestic and international platforms."
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