U-NEXT Holdings Co. reported record quarterly sales as the Japanese entertainment company capitalized on expanded streaming partnerships and growing demand for business solutions.
Revenue jumped 25% to ¥91.9 billion ($620 million) in the first quarter ended November, driven by strong performance in its content streaming and store solutions segments. Net income rose 8.8% to ¥4.57 billion.
The company’s U-NEXT streaming platform benefited from an exclusive partnership with Warner Bros. Discovery signed in September, gaining rights to stream content from Max service in Japan. The deal also enables U-NEXT to distribute Japanese content globally through Max.
U-NEXT strengthened its sports offering by securing a seven-year Premier League partnership and adding Spain’s La Liga matches to its soccer-focused subscription package. The company targets both consumer and business customers with these offerings.
The store solutions division, led by subsidiary USEN, saw operating profit surge 43% to ¥5.1 billion. The unit expanded its wedding music services and launched sports streaming packages for commercial venues through a partnership with DAZN.
The company maintained its full-year forecast for revenue of ¥360 billion and net income of ¥16.7 billion, representing increases of 10% and 8.7% respectively.
