[Click eStock] "CJ ENM, Highlighting Growth Momentum of TVING + Entertainment"

Hyundai Motor Securities analyzed on the 29th that CJ ENM's growth momentum is highlighted in Tving and its entertainment business.

Hyun-yong Kim, a researcher at Hyundai Motor Securities, stated in a report on the same day, "Tving is expected to have 5.2 million paid subscribers by the end of the year as the ad-supported subscription plan spreads," and added, "The ad-supported plan launching on March 4 allows two users to simultaneously access unlimited content in FHD quality, the same as the regular plan, and is 42% cheaper than the Basic plan, which will greatly contribute to the widespread adoption of Tving."

He also analyzed, "The opening of the 2024 professional baseball season in March and the necessity of a Tving membership to enjoy online broadcasts also indicate Tving's potential for success," and "Tving aims to maintain content production costs at a level similar to last year, including professional baseball broadcasting rights, and presents a strategic direction of selecting an efficient lineup based on story differentiation for dramas and entertainment."

Another growth momentum is the debut of the 11-member girl group ME:I under the Japanese joint venture subsidiary Lafone Entertainment. He said, "ME:I is scheduled to release their debut single on April 17," and predicted, "Since senior groups JO1 and INI from the same agency have both entered dome tours and established themselves as leading boy groups in Japan, ME:I is also expected to follow a steep growth trajectory."

Furthermore, he stated, "The company's first seven-year regular idol selection project, produced by Teddy, is scheduled to begin broadcasting on Mnet in the second quarter," and judged, "As seen in the case of ZB1, which debuted last July, girl groups can also quickly establish themselves as top-tier within a short period."

He added, "With the organic growth of existing artists combined with the debut of two girl groups, album sales this year are expected to reach 7.9 million copies (a 42% increase from the previous year), concert attendance is projected at 1 million people (a 100% increase from the previous year), and operating profit from the music business is forecasted at 86.3 billion KRW (a 21.5% increase from the previous year), significantly exceeding market growth rates."

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