Slides
Page 1
0 1Q26 실적발표회 CJ ENM Earnings Conference 2026. 8. 6. 2Q26 Results CJ ENM Earnings Conference
Page 2
For the convenience of investors, the financial release in this document contains consolidated earnings results of CJ ENM based on K‐IFRS. Please note that year on year comparison of the earning results are presented based on the consolidated financial statements. The operating profit or loss of a business does not reflect consolidation adjustments. This document is provided for the convenience of investors only, before our external audit on 2Q 2026 financial results of our headquarter is completed. These statements involve risks and uncertainties, and actual results may differ. This document contains forward‐looking statements on such matters as business plans, predictions, and expectations. This information may differ and change. Therefore, CJ ENM is not in charge of assuring completeness of financial information addressed in this document and also does not take legal responsibility. Disclaimer
Page 3
CONTENTS Appendix4. 2. Main Line-up for 2H26 1. Financial Statement Summary 2. Media Platform 3. Scripted : Film & Drama 4. Music 5. Commerce 1. 2Q26 Financial Highlights CJ ENM2. Studio Dragon3. Key Achievements and Strategies1.
Page 4
1 - 1. Key Achievements and Strategies -3- Advancing growth through diversification of IP monetization and expansion of platforms x Diversified revenue by rebooting IPs <Wanna ONE>, <I.O.I> x Secured new growth drivers via a next-gen mega HIP from <PD101 JP4>(<KO1KEYZ>), and <MODYSSEY>’s successful debut 05 IP Platform Content TVING HIP Mnet Plus Shifting to a high-efficiency, scalable IP structure Advancing digital shift via platform expansion Commerce Turning fandom traffic into engagement and spend Sustaining MLC growth, expanding customer base Expanding long-term revenue base via HIP Portfolio x Proven success with <The Legend of Kitchen Soldier> : Cut production costs via efficient casting, AI-driven CG/VFX : Drove results across AI-linkedVPPL, content-tiedmusic and F&B x Subscriber and MAU(9.7M) growth on KBO and original content x Ad revenue sustained high growth(+52% YoY) x Expanded paid BM via <Wanna ONE Go>'s content pass x Scaled digital BM via <ALD1>, <KO1KEYZ> fanclub launches in JP x Revenue grew(+167.3% YoY) on stronger fanteractive BM x MLC GMV(+161.3% YoY), app downloads(+25.6% YoY), and MAU)(+10.5% YoY) continued to grow x Integrating short-form, live with creator commerce to drive inbound traffic and conversion Released ‘Migak Boys’ album, ran VPPL for ‘Haechandle’ <Wanna ONE Go>: 180M cumulative views, I.O.I: #1 on Melon Top 100 for 6 straight wks
Page 5
2 - 1. 2Q26 Financial Highlights Media Platform turnaround, strong Commerce drove profitability gains (Unit: Wbn) (Unit: Wbn) (Unit: Wbn) · Entertainment : Revenue W800.5bn (YoY -13.7%), OP W11.4bn (YoY +42.4%), TVING growth offset by FS supply delays, Music HIP/platform investment · Commerce : Revenue W402.8bn (YoY +4.4%), OP W26.0bn (YoY +21.2%), MLC sustains growth and strategic merchandising boost topline and profitability [2Q26] Revenue W1,203.3bn (YoY -8.3%), Operating Profit W33.4bn (YoY +16.9%) [2H26] Expand platform competitiveness and customer base, advancing content and HIP portfolio and global expansion Operating IncomeSales Revenue Net Income · Media Platform : SustainTVING momentum, ad growth via bundling ·sponsorships -4- · Scripted : Expand into overseas markets including India, Middle East, LA TAM * Consolidation Adjustments : -W4.0bn · Commerce : Customerbase growth via new acquisition, stronger lock-in · Music : ExpandHIPactivities including<KO1KEYZ> debut,<INI>,<ALD1>album ·tours 927.1 889.9 1,023.5 951.1 800.5 385.8 355.7 414.3 378.5 402.8 1,312.9 1,245.6 1,437.8 1,329.7 1,203.3 2Q25 3Q25 4Q25 1Q26 2Q26 Entertainment Commerce 28.6 17.6 86.0 1.5 33.4 2Q25 3Q25 4Q25 1Q26 2Q26 114.6 79.8 (95.2) (6.1) 22.2 2Q25 3Q25 4Q25 1Q26 2Q26
Page 6
2 - 2. Media Platform TVING subscriber growth sustains momentum, Media Platform profitability turns around TVING, revenue jumps on subscriber gainsRevenue and OPM [2Q26] Revenue W380.0bn (YoY +19.0%), OP W11.0bn (YoY TB) [2H26] Sustain TVING growth, boost profitability via TV ad · TVING : Subscriber growth continued on KBO, original IP (YoY +24.7%), ad revenue surges (YoY +52.2%), and overseas sales gain momentum · Linear TV : TV ad market softness and selective spending during World Cup season drag TV ad revenue (YoY -20.9%) · TVING : Sustain growth via originals/variety despite rising content costs, maximize ad revenue via KBO post-season, yearend campaigns · Linear TV : Strengthen IP-driven, advertiser-tailored bundled ad campaigns, secure revenue via production-ad collab, AI-based ad -5- (Unit: Wbn) 78.1 63.9 71.9 50.2 61.8 70.3 69.9 70.2 72.0 71.9 99.5 98.8 118.8 107.3 140.7 71.3 87.2 148.7 97.3 105.6 319.3 319.8 409.6 326.8 380.0 (3%) (1%) 4% (6%) 3% 2Q25 3Q25 4Q25 1Q26 2Q26 TV Ad Subscription TVING Others OPM 99.5 98.8 118.8 107.3 140.7 2Q25 3Q25 4Q25 1Q26 2Q26 TVING Sales Revenue (Unit: Wbn)
Page 7
2 - 3. Scripted : Film & Drama Strong overseas sales of domestic studio content offset by Fifth Season delivery gap (Unit: Wbn) Revenue and OPM [2Q26] Revenue W190.2bn (YoY -53.7%), OL W10.5bn (YoY CR) [2H26] Leverage anchor IP to drive overseas sales · Stable overseas distribution through local platform sales, steady growth in overseas branded zone, continued variety show export · Despite improved profitability from Studio Dragon’s production cost efficiency,topline contracteddue to delivery gap in FS drama series · Strengthen volume/individual deals in Japan, SEA, N. America, expand partnerships in India, Middle East, and LATAM · Supply non-captive content to global OTT/broadcasters, release <TAZZA 4>, <Paradise Lost>, <Ode to My Father2> in theaters -6- <Four Hands> <TAZZA 4: The Song of Beelzebub> <Spooky in Love> <Space Rice Cake Shop> 2H26 Major Content #SongKang #LeeJoonYoung #Youth #SchoolDrama #Music #ParkEunBin #YangSeJong #OngSeongWoo #RomCom #Mystery STUDIO DRAGON Aug. 29 – Oct. 4 (12eps) CJ ENM/CJ ENM STUDIOS Jul. 18 – Aug. 23 (12eps) Premiere in 3Q26 Director : Choi Kook-hee #NaYoungSeok #Eggiscoming #EarthArcade #SpinOff CJ ENM STUDIOS Jul. 31 – Oct. 16 (12eps) #ByunYoHan #RohJaewon #ChoWooJin #Drana #Crime #Noir 127.9 92.2 99.8 124.9 68.2 263.1 197.7 180.2 233.1 46.0 19.5 82.9 77.9 99.4 76.0 410.5 372.9 357.9 457.3 190.2 (0%) 2% 5% 2% (6%) 2Q25 3Q25 4Q25 1Q26 2Q26 Local Studio Overseas Studio Others OPM
Page 8
Dates : 8/18 – 10/20 #Dance_Survival #GlobalPerformanceDirector 2 - 4. Music -7- Drove growth through artist album and global live expansion 2H26 Major global music content [2Q26] Revenue W230.2bn (YoY +16.7%), OP W10.9bn (YoY -36.4%) · Solid growth on album momentum – <Modyssey> (300K units 1st wk), <INI> (990K), <ZB1>S2 (520K) and expanded mega HIP activities · Despite rising costs from Mnet Plus and new artist investments, key global events eased cost burden (<ALD1> fancon, <JO1> tour, <KCON JP>) · Expand albums/toursfrom LAPONE <JO1>, <INI> , ramp up new HIP with <KO1KEYZ> debut, and <ALD1>, <MODYSSEY>album releases · Strongperformancefor<StreetWorld Fighter: Directors’ War>,scale-up <KCON>,<MAMA>,strengthenMnetPlusvia broadercontentand BM [2H26] Artist portfolio global IP momentum to gain traction Revenue and OPM (Unit: Wbn) Release : 8/24 <UNBREAKABLE: 少年BEAST> #2ndmini #MillionSellerGoal <Street World Fighter: Directors’ War <2026 MAMA AWARDS> Dates : 11/20 – 11/21 Location : Osaka, Japan #GlobalNo1KpopAwards #KyoceraDomeOsaka <ALD1> <KO1KEYZ> 21.3 27.5 23.5 26.5 29.2 30.1 25.9 62.6 44.5 33.6 145.8 143.9 169.7 96.0 167.5 197.2 197.3 255.9 167.0 230.2 9% 1% 7% (3%) 5% 2Q25 3Q25 4Q25 1Q26 2Q26 Albums Concerts Others OPM Release : 10/7 <DEBUT SINGLE> #Produce101_Shinsekai #KoreaJapan_DualDebut
Page 9
MLC GMV sustains strong growthRevenue and OPM [2Q26] Revenue W402.8bn (YoY +4.4%), OP W26.0bn (YoY +21.2%) [2H26] Boost customer growth via creator-commerce, IP-collab 2 - 5. Commerce MLC’s strong momentum and refined category strategies boost revenue and margins · Short-form content expansion boosts SNS revenue and new customer acquisition, MLC GMV maintained solid growth (YoY +161.3%) · Premium travel and kids categories drove topline growth, while high-margin categories (health supplements, beauty) lifted margins -8- · Strengthen OnStyle partner collaboration and creator commerce to expand customer acquisition through SNS · Build a loyal customer base through differentiated IP collaboration· membership, and strengthen lock-in to sustain customer growth (Unit: Wbn, %) <2H26 Major Content> (Unit: Wbn) <Deal Central> #DealPicks #PaengHyunSukChoiYangRak #SalesBattle #ThePaengRakCouple <de elisa’s Take> #PickyButPrecise #deElisasPicks #HomeHacks #TrustedGroupBuy <Shinyoung’s Picks> #LiveShopping #ShinyoungsTips #ShoppingLive #EpisodicSeries 116.0 113.6 121.0 112.3 150.4 211.7 185.5 225.5 209.2 188.3 58.0 56.6 67.8 57.1 64.2 385.8 355.7 414.3 378.5 402.8 6% 4% 9% 6% 6% 2Q25 3Q25 4Q25 1Q26 2Q26 TV e-Commerce Others OPM 70.7 184.8 2Q25 2Q26 MLC GMV 161.3%
Page 10
-9- 3. Studio Dragon 2H26 Objectives <Genre Diversification> · Revenue growth driven byplatform diversification (77eps, YoY +36eps), Market-leading content performance across TVING, tvN, Netflix [2H26] Sustained growth on content and fundamentals[2Q26] Revenue W145.3bn (YoY +26.9%), OP W15.4bn (YoY TB) · Core growth on large-scale titles & pre-sales expansion → Higher Hit Ratio and continued profitability recovery · Revenue model upgrade via new IP business & production efficiency → Targeting higher IP revenue mix & cost efficiency long-term <IP Value Chain> Revenue and OPM Sustainable growth driven by strong content competitiveness and production cost efficiency 17.3 27.6 37.0 48.4 15.5 92.4 105.9 103.1 104.5 126.9 4.7 3.0 5.7 2.4 2.9 114.5 136.5 145.9 155.3 145.3 (3%) 8% 13% 4% 11% 2Q25 3Q25 4Q25 1Q26 2Q26 Programming Distribution Others OPM OfficeYouth Drama Romance Medical Noir Cafe Portrait IP Business Beauty AI Imagery Goods Foods Period Spy Sports * AI-generated image · Profit growth via efficiency and distribution (OPM 10.6%, YoY +13.2%p) (Unit: Wbn)
Page 11
Appendix 1 - 1. Balance Sheet Summary x Key financial ratios Total Assets 8,549 8,875 3.8 Current Assets 2,515 2,665 6.0 Cash and Cash Equivalents 582 714 22.8 Other Current Assets 1,933 1,951 0.9 Non-Current Assets 6,034 6,209 2.9 Tangible Assets 844 837 (0.8) Intangible Assets 2,193 2,303 5.0 Total Liabilities 5,115 5,360 4.8 Current Liabilities 3,275 3,574 9.1 Non-Current Liabilities 1,840 1,785 (3.0) Shareholders' Equity 3,434 3,515 2.4 Equity capital 212 212 - Retained Earnings 418 433 3.7 Other Reserves 2,185 2,228 2.0 (Unit: Wbn) 1Q26 2Q26 QoQ (%) Current Ratio (%) 76.8 74.6 -2.2%p Net Debt Ratio (%) 52.6 50.3 -2.3%p Cash Ratio (%) 20.9 22.2 1.4%p (Unit: %) 1Q26 2Q26 QoQ -10-
Page 12
Appendix 1 - 2. Income Statement Summary % YoY % QoQ Sales Revenue 1,313 1,330 1,203 (8.3) (9.5) Media Platform 319 327 380 19.0 16.3 Film & Drama 411 457 190 (53.7) (58.4) Music 197 167 230 16.7 37.9 Commerce 386 379 403 4.4 6.4 OPEX 1,284 1,328 1,170 (8.9) (11.9) COGS 889 937 759 (14.6) (19.0) SG&A 396 392 411 3.9 5.0 Operating Profit 29 1 33 16.9 2,191.4 Non-Operating PL 93 (1) (14) TR CR Financial PL 68 (28) (40) TR CR Equity method G/L 29 33 40 35.4 20.4 Others (4) (6) (13) CR CR Pre-tax profit 122 0 20 (83.6) 11,988.0 Tax Expenses 7 6 (2) Return Return Ongoing Operating Income 115 (6) 22 (80.6) TB Discontinued Operating Income 0 0 0 - - Net profit 115 (6) 22 (80.6) TB 2Q26 1Q26 2Q26 (Unit: Wbn) -11-
Page 13
Appendix 2. Main Line - up for 2H26 -12- Title Cast · Venue · Channel/Platform Date Category <Spooky in Love> Park Eun-bin, Yang Se-jong, Ong Seong-woo Jul. 18 – Aug. 23 Drama <Four Hands> Song Kang, Lee Joon-young, Jang Gyuri Aug. 29 – Oct. 4 <The Ordinary Jackpot> Lee Joon-hyuk, Seo Hyun-woo, Oh Dae-hwan Sep. 14 – Oct. 13 <100 Days of Deception> Kim Yoo-jung, Park Jin-young, Kim Hyun-joo Oct. 10 – Nov. 29 <Gift> Kim Woo-bin Dec. 5 – Jan. 10 <Space Rice Cake Shop> Lee Eun-ji, Ahn Yujin, Lee Young-ji, Mimi Jul. 31 – Oct. 16 Variety/Sports <Fresh Off the Sea 3> Yum Jung-ah, Kim Sung-young, Kang You-seok Jul. 30 – Oct. 8 <Street World Fighter: Directors’ War> Bada, Back Gu-young, NAIN, Simeez, Renan Aug. 18 – Oct. 20 <Sixth Sense: B-Side> Yoo Jae-suk, Song Eun-I, Ko Kyung-pyo, BIBI Sep. 13 – Nov. 15 <2026 KBO> TVING Mar. 28 – Sep. 16 <2026 US OPEN> TVING/tvN SPORTS Aug. 30 – Sep. 17 <Tazza 4 : The Song of Beelzebub> Byun Yo-han, Roh Jae-won, Cho Woojin September (date TBA) Film/Musical <Love Song in Gwanghwamoon> D-Cube Link Arts Center Sep. 16 <KCON LA 2026> Crypto Arena LA Aug. 14 – Aug. 16 Music <2026 MAMA> Kyocera Dome Osaka Nov. 20 – Nov. 21 2nd Mini <UNBREAKABLE: 少年BEAST> ALPHA DRIVE ONE Aug. 24 1st Single <DEBUT ALBUM> KO1KEYZ Oct. 7 9th Singel <ANTHEM> INI Sep. 16 11th Single <AAO> JO1 Nov. 18
Page 14
Thank You