AfreecaTV Reports Q3 Operating Profit of 20.7 Billion KRW, Down 11% Year-on-Year

[Asia Economy Reporter Yuri Choi] AfreecaTV announced on the 28th that its consolidated third-quarter revenue and operating profit reached 81.8 billion KRW and 20.7 billion KRW, respectively. Revenue increased by 15% compared to the same period last year, but operating profit decreased by 11%.

The revenue growth was driven by advertising. Both platform advertising and content-type advertising grew due to the peak season effect and expansion of new advertisers, resulting in a 60% increase in total advertising revenue compared to the same period last year.

AfreecaTV explained that in the third quarter, it made efforts to prepare new content for users to enjoy and to respond to changes in the external market environment. It provided various attractions such as live broadcasts of major domestic and international professional sports and esports leagues, the casual esports league 'BJ Myeolmangjeon' featuring popular BJs (individual media hosts), and personal broadcast content in collaboration with esports teams.

Jang Chan-yong, CEO of AfreecaTV, said, "In the fourth quarter, we will continue the high growth of advertising revenue through the launch of new advertising products and enhancement of functions. We plan to actively expand investments and implement various strategies for content to enable more users to participate on the platform."

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