Naver’s live streaming platform Chzzk faces another test with exclusive online streaming of the FIFA North and Central America World Cup in June. Chzzk has expanded its user base through major sports and esports broadcasts, but still trails rival SOOP in total watch time and monetisation foundation. Negative public sentiment surrounding the Korea Football Association and weaker interest in the national team could also dilute the expected World Cup boost.

Naver’s first-quarter revenue rose 16.3 percent from a year earlier, but operating profit grew 7.2 percent as AI infrastructure investment and content procurement costs were incurred first. Its operating margin fell to 16.7 percent from 19.1 percent in the previous quarter. Infrastructure costs rose 32.5 percent and partner and marketing expenses also increased. Naver plans to step up AI advertising monetisation from the second half.