Chorokbaem Media, 3Q Cumulative Sales of 166.4 Billion KRW... "Expecting Record-Breaking Performance This Year"
Comprehensive media content company Chorokbaem Media announced on the 14th that its cumulative sales on a consolidated basis for the third quarter of this year reached 166.5 billion KRW, an increase of 14.52% compared to the same period last year. Operating profit for the same period increased by 146.13% to 5.8 billion KRW, and net profit recorded 33.7 billion KRW, successfully turning to a profit.
The strong performance of Chorokbaem Media in the third quarter was driven by its core business divisions: program production and broadcasting channel. Chorokbaem Media recorded 42.1 billion KRW in the program production division, up 79.48% year-on-year, and approximately 6.7 billion KRW in sales in the broadcasting channel division, an increase of 29.5%.
A representative from Chorokbaem Media explained, “Sales from ‘7-in Escape,’ currently airing on terrestrial broadcasting, were partially reflected in the third quarter, and sales from the distribution of rights for our own IP (intellectual property) works also increased. Along with this, VOD (video on demand) and advertising revenue through the K-STAR channel also grew this quarter.”
Chorokbaem Media acquired the ‘K-STAR’ channel in 2021 to secure its own content distribution platform and maximize business synergy, and through this captive channel, it is presenting various original entertainment variety contents.
A company official stated, “Since we plan to release one more work within the year, the growth trend in performance is expected to continue through the fourth quarter. If this trend continues, the full-year consolidated performance is expected to achieve the best results since the company’s founding.”
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He added, “Next year, we plan to pursue business more aggressively and present a strengthened drama lineup compared to this year. Based on a stable financial structure, we will spare no effort company-wide to ensure a swift resumption of trading.”
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