CJ ENM Reports Operating Profit of 296.9 Billion KRW Last Year, Up 9.1% YoY (Comprehensive)

[Asia Economy Reporter Jeon Jinyoung] CJ ENM announced on the 10th that its consolidated operating profit for last year was tentatively estimated at 296.9 billion KRW, a 9.1% increase compared to the previous year.

Sales increased by 4.8% year-on-year to 3.5524 trillion KRW. Net profit rose by 246.7% to 227.6 billion KRW.

Operating profit for the fourth quarter was 29.6 billion KRW, down 66.3% compared to the same period last year. Sales and net profit for the same quarter were 995 billion KRW and 18.9 billion KRW, respectively.

CJ ENM explained that the strong growth in the media and music sectors drove these results. The media sector recorded annual sales of 1.7745 trillion KRW and operating profit of 166.5 billion KRW, achieving the highest annual operating profit on record. Tving paid subscribers increased by 18.9% compared to the previous quarter, and digital sales grew by 59.7% year-on-year.

The music sector posted annual sales of 281.9 billion KRW and fourth-quarter sales of 98.5 billion KRW. Fourth-quarter operating profit was 19.2 billion KRW, showing significant growth compared to the same period last year. CJ ENM stated that INI, which released its first single album in Japan last year, and JO1, which released a mini album, achieved meaningful results. Their own artists such as ENHYPEN and Jo Yuri, along with the OST library including ‘Gaetmaeul Chachacha’ and ‘Hospital Playlist,’ drove album and music sales.

A CJ ENM official said, “This year, we plan to further expand market share by strengthening content competitiveness, increasing channel viewership share, and growing Tving paid subscribers.”

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