Spoon Radio Records Profit for 9 Consecutive Months... Cumulative Revenue of 34 Billion KRW by Q3
Cumulative Operating Profit in Q3 Increases by 23 Billion KRW Year-on-Year
[Asia Economy Reporter Kim Cheol-hyun] Spoon Radio (CEO Choi Hyuk-jae) announced on the 5th that it has recorded consecutive profits for nine months from January to September and achieved cumulative sales of 34 billion KRW and operating profit of 4 billion KRW through the third quarter. Spoon Radio's performance this time represents an increase of more than 23 billion KRW in operating profit compared to last year. The amount of in-app payments is also steadily increasing every month.
Spoon Radio operates the real-time audio broadcasting platform "Spoon." It has established itself as the YouTube of the audio world, with an average of 1 million monthly users as of September this year. Spoon Radio shifted its strategy from aggressive marketing-driven growth until last year to a profit-generating strategy without external investment this year. Since then, it has focused on service improvement and the growth of revenue-generating DJs, producing these results.
The main factor behind the performance increase is the "acquisition of high-income DJs." In fact, the number of high-income DJs this year increased by more than 20%, from 840 to 1,030 compared to the same period last year. In this process, they improved DJ satisfaction and maximized marketing efficiency, realizing cost efficiency.
In the global market, Spoon Radio focused on countries with high potential through selection and concentration. As a result, about half of the total users are currently Japanese, and the payment amount within Japan is steadily increasing, accounting for more than 50% of the total payment amount.
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Choi Hyuk-jae, CEO of Spoon Radio, said, "This achievement is meaningful as it proves that we can generate operating profit by moving away from the so-called deficit growth strategy that prioritized aggressive marketing expenses in the past." He added, "We plan to continue focusing on the mutual growth of DJs and Spoon Radio, improving content quality, and growing sales."
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