CJ ENM said growth at streaming platform TVING and stronger overseas content sales lifted first-quarter revenue in 2026, though profitability was mixed as the TV advertising market weakened and music investment increased.
The company said May 7 that, on a consolidated basis, it posted first-quarter revenue of 13.297 trillion won and operating profit of 1.5 billion won. That was up 16.8% and 107.2%, respectively, from a year earlier.
The entertainment division reported revenue of 9.511 trillion won, up 22.6%. It remained in the red with an operating loss of 19.0 billion won, but the loss narrowed by 7.2 billion won from a year earlier.
The media platform division posted revenue of 3.268 trillion won, up 11.6% on TVING’s growth, but recorded an operating loss of 21.2 billion won as TV advertising revenue fell amid an economic slowdown.
Results improved sharply in film and drama. Revenue rose 44.8% to 4.573 trillion won, and operating profit was 8.0 billion won, swinging to a profit. CJ ENM attributed the gains to expanded supply of global series including “American Classic,” “The Good Daughter” and “East of Eden,” which it said improved both sales and profitability.
The music division posted revenue of 1.670 trillion won, down 0.1%. It recorded an operating loss of 5.8 billion won, citing fewer large events by label artists including at Lapone Entertainment and increased infrastructure investment for Mnet Plus.
The commerce division extended revenue growth but saw weaker profitability. Revenue rose 4.5% to 3.785 trillion won, while operating profit fell 7.6% to 23.9 billion won.
CJ ENM said it expanded intellectual property-based content commerce and strengthened short-form social media marketing to boost mobile competitiveness. It said mobile live commerce transaction volume jumped 137% from a year earlier, while app downloads and monthly active users each rose 11.8% on increased mobile investment.
Subsidiary Studio Dragon reported first-quarter revenue of 155.3 billion won, up 16%, and operating profit of 6.4 billion won, up 50.1%. The company said broader TV scheduling, including terrestrial channels, and increased supply of global OTT originals supported growth.
CJ ENM said it plans from the second quarter to focus on strengthening local platform partnerships and building a base for overseas co-productions; boosting integrated advertising competitiveness around anchor IP; expanding its artist lineup and improving concert-based earnings; and widening its commerce IP universe while strengthening premium product competitiveness.
A CJ ENM official said, “We continued top-line growth in the first quarter on steady increases in TVING subscribers and advertising revenue and strong overseas content sales,” adding, “In the second quarter, we will focus on restoring profitability by improving business fundamentals by division and strengthening platform competitiveness.”
* This article has been translated by AI.
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