[Special Stock] Chorokbaem Media Rises on Strong Q3 Performance and Growing NFT Expectations... 'Up'

[Asia Economy Reporter Yoo Hyun-seok] Chorokbaem Media is showing strong performance. Following strong third-quarter results, expectations for its non-fungible token (NFT) business have increased.

As of 9:06 AM on the 16th, Chorokbaem Media was trading at 3,185 KRW, up 1.11% (35 KRW) compared to the previous trading day.

Chorokbaem Media announced that its consolidated sales for the previous day reached 39 billion KRW, a 283% increase compared to the same period last year, marking the highest quarterly sales since Q4 2016. Operating profit for the same period reached 1.3 billion KRW, marking three consecutive quarters of profitability.

The improvement in third-quarter performance is attributed to this year’s expansion of the drama lineup as well as the development of additional businesses such as dining and observatory operations. Revenue related to broadcasting programs such as "Penthouse 3," "Marriage Lyrics and Divorce Music 2," and "OK Kwang Sisters" accounted for about 58% of total sales, while the dining business operated by the consolidated subsidiary "Chorokbaem Food Farm" accounted for 39% of sales. The rental business of the Busan "LCT" observatory also generated steady profits at a scale of 1 billion KRW.

Meanwhile, Chorokbaem Media successfully raised approximately 110 billion KRW in large-scale funding on the 10th. The company plans to pursue new content-based businesses such as NFT, metaverse, and e-commerce. The companies investing in Chorokbaem Media include a total of seven firms, including the largest shareholder "Chorokbaem Company," "Lotte Home Shopping (corporate name Woori Home Shopping)," "Bithumb Korea," "Bident," "Wemade Tree," "Bucket Studio," and "YG Plus."

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