Content hits and platform expansion lift revenue; TVING/Wavve MAU exceeds 10 million; ad revenue jumps 74.7%

CJ ENM posted consolidated revenue of KRW 1.2456 trillion and an operating profit of KRW 17.6 billion in the third quarter of 2025, driven by strengthened content competitiveness and expanded platform scale.

Analysts say strategies such as monetizing content IP, strengthening OTT competitiveness, and expanding the commerce portfolio are beginning to bear fruit despite the recent global slowdown and advertising market slump. The company plans to defend profitability and broaden its global footprint in Q4 by increasing the supply of global IP and advancing its platform business.

Media Platform delivered a mixed performance in the quarter, with revenue of KRW 319.8 billion and an operating loss of KRW 3.3 billion amid a soft ad market; however, OTT TVING expanded its user base by leveraging synergies from its merger with Wavve, and introduced an ad-supported plan that contributed to a 74.7% year-over-year rise in TVING’s ad revenue. The combined MAU for TVING and Wavve reached 10 million (excluding duplicates).

In Film and Drama, revenue rose 48.2% year-over-year to KRW 372.9 billion, and operating profit turned positive at KRW 6.8 billion, aided by entry into new markets in Latin America and the Middle East. Premium content such as The Savant and He’s and Hers, supplied by US producer Fifth Season, supported the improved performance, along with broader overseas sales partnerships. Severance, produced by Fifth Season, won eight categories at the 77th Primetime Emmy Awards, strengthening its global standing; Slow Horses, distributed by Fifth Season, was recognized for both artistry and commercial value with a directing award. Domestic film Can’t Help It contributed to growth through box office revenue and exports.

Music posted revenue of KRW 197.3 billion, up 8% from a year earlier, as ZEROBASEONE (ZB1) achieved six consecutive million-seller status with its first full album surpassing 1.51 million copies in the debut week. However, operating profit was limited to KRW 1.9 billion due to gaps in releases by Lapone Entertainment artists and increased investment in new artists. Related IP utilization on channels Mnet and Mnet Plus also rose, helping revenue.

Commerce significantly improved profitability, reporting KRW 355.7 billion in revenue (up 6.5% YoY) and KRW 12.6 billion in operating profit (up 37.5%). Growth drivers included expanded external channels for Shorts Commerce, influencer collaborations, and strengthened beauty and health functional foods lines, with mobile live commerce transactions rising 62.8% year-over-year.

Looking ahead, CJ ENM plans to sustain momentum by expanding original OTT titles like Transit Love 4 and Dear X, while increasing global influence through HBO Max entries in 17 Asia-Pacific countries and a Disney+ Japan presence. The company will also push for IP-led monetization across its channels and deepen global distribution through CJ ENM Studios, Studio Dragon, and Fifth Season. The music division aims to solidify its global fandom with the 2025 MAMA AWARDS and ZB1’s world tour, while expanding artist pools via new projects and debut groups to bolster profitability through global streaming and value-chain expansion.

Note: The English article above is a rewritten rendering based on the extracted Korean sentences and is intended to reflect a natural, industry-style presentation.