Q3 2024 Webtoon Entertainment Inc Earnings Call Transcript
Key Points
- Webtoon Entertainment Inc (WBTN) achieved a 13.5% revenue growth on a constant currency basis, with growth across all regions and revenue streams.
- The company reported a significant increase in adjusted EBITDA to $28.9 million, driven by strong gross profit and effective cost controls.
- Webtoon Entertainment Inc (WBTN) saw a notable increase in user engagement, particularly in Japan, where MAU and MPU reached record highs.
- The company successfully launched several new original titles and improved AI-based personalized content recommendation capabilities.
- Webtoon Entertainment Inc (WBTN) expanded its IP adaptation business, with successful projects like Sweet Home on Netflix and collaborations with Amazon Prime in Europe.
- Webtoon Entertainment Inc (WBTN) experienced a decline in overall MAU, particularly due to a reduction in web users as they shifted focus to app users.
- The company faced challenges with weaker foreign currencies, which partially offset revenue growth.
- There were project delays in the IP adaptation segment, impacting Q3 growth and potentially extending into Q4.
- Revenue growth in Korea was modest at 1.7% on a constant currency basis, with declines in MAU and MPU.
- Webtoon Entertainment Inc (WBTN) encountered a government ban in one country, affecting user access and contributing to a decline in MAU in the rest of the world.
Thank you for standing by. My name is John and I'll be your conference operator today. At this time, I would like to welcome everyone to the Webtoon Entertainment third quarter, 2024 earnings call. All lines have been placed in mute to prevent any background noise. After the speaker's remarks, there will be a question and answer session. If you would like to ask a question during this time, simply press star followed by the number one on your telephone keypad. If you would like to enjoy your question, press star one again.
I would now like to turn the call over to Soohwan Kim, Vice President of investor relations, Mr Kim, please go ahead.
Good afternoon and thank you for joining us as a reminder. Our remarks today will include forward-looking statements including those regarding our future plans, objectives expected performance. In particular our guidance for the next quarter, actual results may vary materially from today's statements. Information concerning risks uncertainties and other
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
