South Korean streaming platform SOOP reported a 41% jump in fourth-quarter profit, powered by strong advertising revenue despite rising operational costs.
Net income rose to 22.7 billion won ($17.1 million) in the three months ended December, compared with 16.1 billion won a year earlier, the Seoul-based company said in its earnings report. Revenue climbed 17% to 117.6 billion won.
The company’s advertising business saw a 29% quarter-on-quarter increase to 33.9 billion won, benefiting from seasonal demand. However, platform service revenue, which accounts for 70% of total sales, remained flat at 82.4 billion won.
Operating profit increased 8.4% to 28.6 billion won, even as costs grew 20% from a year earlier. The operating margin contracted to 24.3% from 26.3% in the previous year’s quarter.
Looking ahead, SOOP plans to expand its ecosystem through partnerships and artificial intelligence integration while strengthening its content sharing between global and Korean markets. The company aims to boost local streamer acquisition and enhance advertisement reinforcement as part of its 2025 strategy.
For the full year, SOOP’s net profit increased 33% to 99.1 billion won on revenue of 429.1 billion won, up 23% from 2023.
