KT Skylife Reports 22.5 Billion KRW Operating Profit in Q1, Up 13.1% YoY

[Asia Economy Reporter Koo Chae-eun] KT Skylife announced on the 8th that it recorded sales of 159.3 billion KRW, operating profit of 22.5 billion KRW, and net profit of 17.8 billion KRW in the first quarter of this year based on separate financial statements.

Sales decreased by 2% compared to the same period last year due to a decline in platform sales, but operating profit and net profit increased by 13.1% and 29.8%, respectively, due to reduced marketing expenses.

Qualitative growth continued in terms of broadcasting subscribers. The total number of broadcasting subscribers was 4.15 million, a decrease of 35,000 from the previous quarter, but UHD broadcasting subscribers with a high average revenue per user (ARPU) increased by 38,000 from the previous quarter to 1.33 million, accounting for 32% of total subscribers.

Internet subscribers steadily grew by 18,000 due to the ‘30% Discount Home Bundle’ promotion. The cumulative number of internet subscribers reached 125,000 at the end of the first quarter, more than double the 55,000 subscribers from the same period last year. A KT Skylife official stated, “The cross-bundle (DPS) rate of internet subscribers who also subscribe to broadcasting is 95.4%, which is expected to provide a solid foundation for profitability improvement through increased sales of internet-based value-added services such as video on demand (VOD) in the future.”

Yang Chun-sik, Head of Management Planning at KT Skylife, said, “Since the second quarter is the most important period of the year, we plan to increase sales and operating profit through platform sales improvement and cost reduction efforts,” and added, “We will also focus on expanding subscribers through marketing of key products such as the 30% Discount Home Bundle and the OTT integrated platform ‘Topping.’”

This content was produced with the assistance of AI translation services.