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Watcha Reports First Quarterly Break-Even, TVOD Revenue Up 302%
Source: Watcha

Watcha Reports First Quarterly Break-Even, TVOD Revenue Up 302%

Philip Lee profile image
by Philip Lee

Seoul, South Korea - Watcha achieved its first quarterly break-even point in the third quarter of 2024, following its monthly break-even milestone in June.

The company's transactional video-on-demand revenue increased 302% from the previous year's third quarter, while pay-per-view webtoon sales grew 1,522% during the same period.

Watcha recorded an annual revenue of KRW 73.4 billion (US$52.9 million) in 2022, its highest since its founding in 2010.

The company expanded its webtoon content library by 300% compared to the previous year and maintains a database of over 720 million content ratings.

The streaming service launched a new short-form drama platform called "Shortcha" in September 2024, offering content from South Korea, China, the United States, and Japan.

Watcha began as a content recommendation platform in 2010 before expanding into streaming services in 2016.

2018 it became the first Korean over-the-top service to enter international markets.

The company implemented cost optimization measures in marketing and operations, contributing to its break-even achievement amid rising content acquisition costs.

Watcha continues its international expansion through increased Korean content offerings and enhanced brand awareness in overseas markets.

The platform's pay-per-view service now includes recent and classic films and series content, expanding its revenue streams beyond subscription fees.

The company has diversified its business model to include individual content purchases for video content and webtoons to strengthen profitability amid rising content production and acquisition costs.

Philip Lee profile image
by Philip Lee

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