CJ ENM Q3 Operating Profit Down 71%... "Theater Box Office Slump"

CJ ENM announced on the 8th that its consolidated sales for the third quarter of this year amounted to 1.1109 trillion KRW, a 5.7% decrease compared to the same period last year, and operating profit was 7.4 billion KRW, down 71.0%.

Specifically, the media platform division recorded sales of 314.2 billion KRW, down 8.3% from the same period last year, and an operating profit of 1.9 billion KRW.

The film and drama division posted sales of 326.2 billion KRW, a decrease of 8.7%, and an operating loss of 20.4 billion KRW. The company stated, "The poor performance of the theater box office has acted as a burden on profitability."

CJ ENM plans to focus on improving profitability by division starting from the fourth quarter of this year.

The media platform division aims to strengthen content competitiveness centered on premium content to maximize advertising revenue and Tving viewership traffic inflow.

The film and drama division plans to expand global distribution of content and focus on maximizing IP profitability.

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