AfricaTV Reports 315 Billion KRW Revenue and 82.4 Billion KRW Operating Profit in 2022

[Asia Economy Reporter Seungjin Lee] AfreecaTV announced on the 9th that its consolidated annual revenue and operating profit for 2022 reached 315 billion KRW and 82.4 billion KRW, respectively. Revenue increased by 16% compared to the previous year, while operating profit decreased by 7%.

AfreecaTV explained that last year, both donation economy gifts (such as Star Balloons and subscriptions) revenue and advertising revenue increased compared to the previous year, driving overall revenue growth. Advertising revenue grew by 50% year-on-year as demand expanded for both platform ads and content-type ads. In the fourth quarter of 2022, advertising revenue also grew by 39% year-on-year due to the peak season effect and increased sponsorship revenue, leading to revenue growth in the quarter.

Last year, AfreecaTV strengthened its live streaming and VOD services while advancing its advertising platform and content-type advertising to create an advertiser-friendly platform, continuing growth in advertising revenue. The company actively supported virtual BJs who showcase diverse content in comprehensive gaming fields such as ‘Minecraft,’ further expanding content categories. Additionally, AfreecaTV focused on expanding content for users by broadcasting the 22nd Qatar World Cup live and signing exclusive streaming partnerships with LoL Korea Pro League ‘LCK’ teams.

Jung Chanyong, CEO of AfreecaTV, stated, “In 2023, we will not only enhance platform services such as improved video quality, personalized UI/UX, and open API, but also strengthen our value as a content platform by expanding short-form video service Catch and original and BJ signature content.” He added, “We plan to accelerate AfreecaTV’s global expansion and continue various changes and attempts to create sustainable growth value.”

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