AfreecaTV Reports Operating Profit of 23.1 Billion Won in Q1, Up 18% YoY

[Asia Economy Reporter Seungjin Lee] AfreecaTV announced on the 29th that its consolidated sales and operating profit for the first quarter of 2022 reached 75.3 billion KRW and 23.1 billion KRW, respectively.

Sales and operating profit for the first quarter of 2022 increased by 23.7% and 18%, respectively, compared to the same period last year. Net profit for the period was 19.6 billion KRW, up 27% year-on-year and 16.4% quarter-on-quarter.

In the first quarter, platform sales continued to grow as the number of users sponsoring BJs increased compared to the previous quarter, driven by the introduction of user participation services that enhanced 'user engagement.' Although overall advertising revenue decreased quarter-on-quarter due to seasonal off-season effects, it rose 69% year-on-year. Content-type advertising revenue grew 102% year-on-year due to increased demand for content-type advertisements.

Jang Chan-yong, CEO of AfreecaTV, stated, “In the second quarter, we will further advance video-centered curation and BJ-centered commerce ecosystems based on AfreecaTV’s strengths in BJs and content, establishing and expanding our domain as a media commerce platform.” He added, “We plan to actively strengthen our global business and leap forward as a global platform by collaborating with global partners, mainly in Southeast Asia, to plan and produce local e-sports leagues.”

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