SOOP reported disappointing results for the second quarter of this year, but there are signs of recovery in donation economy revenue and traffic. The company plans to boost performance in the second half of the year by expanding the influx of new streamers and users, revamping the platform, and diversifying its advertising business.
On July 31, SOOP announced that its consolidated revenue for the second quarter of 2026 was 103.8 billion won, with an operating profit of 12.6 billion won and a net profit of 8.7 billion won. These figures represent declines of 11.2%, 57.9%, and 61.1%, respectively, compared to the same period last year. By business segment, platform revenue was 74.1 billion won, while advertising revenue reached 27.2 billion won.
For the first half of the year, SOOP reported revenue of 209.9 billion won, an operating profit of 33.9 billion won, and a net profit of 31.2 billion won. Platform and advertising revenues for the first half were 148.2 billion won and 57.7 billion won, respectively.
SOOP noted that its donation economy (gift) revenue began to rebound in the second quarter, and traffic has recovered to levels seen in the previous year. However, one-time costs related to a tax audit and strategic investments for growth in the second half contributed to the decline in performance.
During a conference call on the second quarter results, SOOP CEO Lee Min-won acknowledged the company's challenging situation, stating, "We recognize the gravity of our current circumstances. It is time to assess the situation critically, not only in terms of short-term performance but also in the growth of the streamer and content ecosystem."
He emphasized that SOOP's long-standing competitive edge in live streaming and the foundation of its streamer ecosystem remain strong. The company aims to focus on expanding the influx of new streamers and users while enhancing the activity of existing users, rather than merely cutting costs or seeking short-term performance improvements.
In the short term, SOOP plans to increase advertising purchasing power through collaboration among its affiliates and expand the advertising market size on its platform. Its long-term goal is to create an advertising ecosystem where streamers and brands grow together while providing more benefits to users.
To improve performance in the second half of the year, SOOP will prioritize revitalizing the streamer ecosystem. The company intends to shift from its previous approach of directly leading streamer growth to creating a self-sustaining structure where streamers and users participate in the ecosystem's growth.
To achieve this, SOOP will implement a system where existing streamers directly discover and nurture new streamers. It is also preparing a 'performance certification system' to motivate streamers based on their activities and achievements, with specific details to be announced in the third quarter.
SOOP will also enhance its service competitiveness by overhauling the user interface (UI) and user experience (UX) to provide new enjoyment and content experiences, with plans to unveil these changes by the end of the year.
Additionally, the company will strengthen features such as AI-based personalized recommendations, subtitles, and chat translation. This strategy aims to improve convenience for streamers and users while lowering language barriers for global users to increase overseas user influx.
The advertising business will be restructured around integrated marketing brands. SOOP plans to launch a marketing consulting business that combines the expertise of SOOP and three advertising and marketing affiliates, aiming to be recognized as a single brand in the market by the end of the year.
SOOP has also expanded its support programs for equipment, production, and promotion for new streamers. The company is particularly focused on ensuring stable activities and the formation of fan communities across various categories, including virtual streamers.
A SOOP representative stated, "We will execute our plans with urgency to drive change and focus on recovering our core competitiveness and returning to growth."
* This article has been translated by AI.
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