Stream Media Corp focuses on non-concert growth, revises forecast

Stream Media Corporation, owner of the KNTV media channel, announced a revised business plan emphasizing expansion into non-concert ventures, including merchandising, appearances, and original IP development. The shift comes as the company anticipates higher-than-expected concert production costs, impacting the Entertainment Business forecast for fiscal year 2024. While concert attendance met KPIs, slower-than-expected live music market growth prompted a revised outlook for 2025. The company projects revenue of JPY9.71B for 2024 and JPY9.87B for 2025. It aims to drive revenue growth through non-concert segments and its original Japanese IP, improving profit margins in the process. Initiatives include strengthening KNTV's K-POP programming and expanding the artist lineup. The company also aims to maintain its listing by securing a 25% public float ratio. All funds from NAVER Korea will be invested in new businesses, core operations and talent acquisition.