[Source: African TV]

** \ -Sales of KRW 75.3 billion, operating profit of KRW 23.1 billion, net profit of KRW 19.6 billion… 23.7%, 18%, 27%increase, respectively.

** \ -The platform sales sustainable growth, content-type advertisements grow significantly compared to the same period last year.

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\ -BJ-centered commerce ecosystem to expand into the ‘media commerce platform’ and actively strengthen the ‘global platform’ business

African TV announced today (29th) that the sales and operating profit of the first quarter of 2022 recorded KRW 75.3 billion and KRW 23.1 billion, respectively.

In the first quarter of 2022, sales and operating profit increased by 23.7% and 18%, respectively. Compared to the previous quarter, it recorded -0.1%and -6%, respectively. Net profit was W19.6bn, up 27% YoY and 16.4% QoQ.

In 1Q, platform sales continued to grow as the number of users sponsored to BJ increased compared to the previous quarter due to the increase in users through the introduction of user participation services. Advertising sales decreased overall in terms of seasonal off -season, but rose 69% YoY. In particular, as the demand for content type advertising increased, content -type advertising sales grew 102% year -on -year.

African TV tried to strengthen user gender ego by introducing the ‘user participation’ function, which is a video communication service that can talk in real time between the BJ and the user in the first quarter.

In addition, the new e -sports stadium ‘African Colosseum’ located in Sangam -dong is newly opened, so that various living sports games and entertainment contents can be produced and on -site viewing as well as esports games with large number of employees. We have a foundation that can be used as a cradle.

In addition, the company introduced ‘Free Blocks’, a meta bus platform for the expansion of the virtual platform, to secure future growth engines through new businesses.

Chung Chan -yong, CEO of African TV, said, “In the second quarter, we will further upgrade the video -oriented curation and BJ -centered commerce ecosystem based on the BJ and contents of African TV, and build and expand the area as a media commerce platform.” I conveyed it.

“We will also actively strengthen our global business by planning and producing local e -sports leagues through collaboration with global partners, especially in Southeast Asia,” he said.