Forest reported an operating profit of 23.9 billion KRW in the third quarter, a 9% increase, attributed to the influx of new streamers.

Revenue of 110 billion KRW, a 25% increase from the previous year… Strong performance in platform and advertising business,
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, ‘(Seoul = News1) Reporter Kim Min-seok = SOOP (067160, formerly AfreecaTV) announced on the 31st that its operating profit for the third quarter on a consolidated basis reached 23.9 billion KRW, a 9% increase compared to the same period last year.’,
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, ‘During the same period, revenue increased by 25% to 110 billion KRW, and net profit increased by 25% to 24 billion KRW.’,
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, ‘SOOP explained that excluding the one-time bad debt expense related to Happy Money (TMON, Wimelope situation), the operating profit increased by 38% compared to the same period last year, reaching 30.3 billion KRW.’,
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, ‘Both platform and advertising businesses showed uniform growth.’,
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, ‘Platform revenue increased by 27% from the same period last year, reaching 82.6 billion KRW, due to the influx of new streamers (BJs). The average number of simultaneous broadcasts and viewers increased as well.’,
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, ‘Advertising revenue increased by 22% to 26.2 billion KRW.’,
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, ‘SOOP plans to strengthen its unique live streaming ecosystem with new branding and UI/UX (user interface and experience) overhauls for its domestic live streaming services in the fourth quarter.’,
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, “They plan to participate in ‘G-Star 2024’, held at BEXCO, Busan from November 14 to 17, with 100 booths and showcase content with major streamers.”,
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, ‘Jung Chan-yong, CEO of SOOP, said, “We will expand our services to the global market to secure new growth drivers.”‘,
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, ‘Meanwhile, SOOP will increase subscription fees by 36.4% starting November 13. This is the first adjustment in 7 years since the subscription model was introduced in 2017.’,
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, ‘SOOP will reform the subscription service model into Tier 1 and Tier 2, increasing the existing Tier 1 subscription fee from 3,300 KRW per month (PC/web standard) to 4,500 KRW. The newly introduced Tier 2 subscription fee is set at 14,500 KRW per month.\n’