KT Skylife announced on the 7th that it recorded consolidated sales of 1.0229 trillion won and an operating loss of 1.1 billion won last year. Compared to the previous year, sales decreased by 0.3%, and the company turned to an operating loss. For three consecutive years since 2022, sales have surpassed 1 trillion won.
The shift to a loss was attributed to the amortization of intangible assets at Skylife TV. However, due to reduced content investment at Skylife TV, amortization expenses have been decreasing since the third quarter of last year. As a result, operating profit is expected to improve this year.
The total number of subscribers decreased by 1% (about 60,000 people) from the previous year, totaling 5.75 million. However, mobile and internet product subscribers increased by 13.8% (about 50,000 people) and 11.9% (about 50,000 people) respectively, compared to the previous year.
KT Skylife explained, “Although the total number of retained subscribers slightly decreased as we focused on acquiring profitability-driven new subscribers, the number of mobile and internet subscribers continues to grow, and the ratio of new mobile and internet subscribers bundling with TV products reached 41%.”
Cho Il, CFO of KT Skylife, stated, “The consistent increase in mobile and internet subscribers, along with the favorable viewership ratings of the ENA channel, is leading to a continuous increase in Skylife TV’s share of the advertising market. We plan to enhance shareholder value by focusing on recruiting profitability-driven subscribers and expanding TPS (TV, internet, mobile) subscribers.”