Korean streaming platform TVing hit monthly active users of 7.4 million in the second quarter of this year, up from 5.74 million in Q2 2023, with 29% growth in paying subscribers. TVing revenue for the quarter increased 41% to KRW107.9 billion/US$78.7 million, according to parent company CJ ENM’s quarterly earnings report.

Fifth Season revenue more than doubled during the quarter to KRW157.2 billion/US$114.6 million.

Top titles including blockbuster series, "Queen of Tears", which gave tvN its highest ratings ever at 24.9%, and the eight-episode "High School Mystery Club 3", which led new sign ups for seven consecutive weeks. 

Global content sales were led by "Lovely Runner", "The Midnight Romance in Hagwon" and "Lady in the Lake". 

Speaking about Studio Dragon, CJ ENM said its priority in the second half of this year was to “revitalise via enhanced content, an efficient production cost structure, and improved corporate value”.

Business model changes are at the top of the agenda, with a focus on “optimising production cost structure and processes by internalising talent as our primary IPs”.