AfricaTV Records 86.7 Billion KRW in Q2 Revenue and 23.6 Billion KRW Operating Profit

AfreecaTV announced on the 31st that it recorded consolidated second-quarter sales of 86.7 billion KRW. Operating profit and net profit for the same period were 23.6 billion KRW and 22.7 billion KRW, respectively.

Second-quarter sales and operating profit increased by 11.2% and 1.9%, respectively, compared to the same period last year. Compared to the previous quarter, they rose by 19.2% and 28.5%. Net profit increased by 15% year-on-year and 36.7% quarter-on-quarter.

For the first half of 2023, sales reached 159.4 billion KRW, up 4% from the same period last year. Operating profit and net profit were 42 billion KRW and 39.3 billion KRW, respectively.

In the second quarter, both platform sales and advertising sales grew steadily compared to the same period last year, driving performance growth. Platform sales grew 7.8% compared to the previous quarter. In particular, sales of 'content-type advertising,' which allows users to enjoy ads as content, increased by 118% quarter-on-quarter, leading to an overall advertising sales increase of 74.6% compared to the previous quarter.

In the first half of 2023, AfreecaTV enhanced platform convenience by launching the personalized service ‘MY+,’ which recommends content based on user activity. The company also focused on expanding the lifestyle and youth sports ecosystem through the acquisition of billiards specialist company Five&Six, exclusive live broadcasting of the ‘Ho Chi Minh 3-Cushion World Cup,’ production of key matches for the youth soccer tournament ‘i-League,’ and live broadcasts of tournaments hosted by the Korea Youth Baseball Federation and the Korea Baseball Committee. Additionally, AfreecaTV partnered with Vietnamese state broadcaster VTVCab to launch the local platform service ‘OnLive,’ laying the foundation for global expansion.

In the second half of the year, AfreecaTV plans to strengthen its advertising business capabilities together with digital marketing company CTTD, which it acquired in July. Alongside this, the company will continue to advance its platform services by hosting an OPEN API competition that allows users to apply various extension programs directly. It also plans to enhance VOD content through the short-form video service ‘Catch’ and expand diverse viewing options for users, including signature content and original content based on exclusive IP.

Jung Chan-yong, CEO of AfreecaTV, stated, "To seize opportunities arising from the rapidly changing market environment, we will actively implement strategies based on AfreecaTV’s unique strengths, including expanding BJs, users, and viewership." He added, "Along with this, we will actively pursue overseas market expansion to evolve into a global standard platform by strengthening local partnerships centered on Southeast Asia, including Vietnam, Thailand, and Indonesia."

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