SM JYP Sees Increase Sales in Q2 While YG Sees Big Drop
The Q2 financial reports of Korea’s major entertainment agencies have been released. Throughout the same period of last year, SM entertainment and JYP entertainment recorded an increase in sales and net profit, while YG Entertainment hit a loss.
SM Entertainment, who manages EXO、Red Velvet and more, recorded 208 million USD in sales, and 13.7 million USD in net profit. Compared with 2017 Q2, their sales increased 88.5million USD and turn loss to profit.
JYP Entertainment who manages TWICE and GOT7, recorded 28 million USD, 10.6% increase from last year and 30.8% increase in operation profit.
On the other hand, YG entertainment, whose talents include BLACKPINK, IKON and WINNER, recorded a drop in both sales and profit in Q2 of 2018, and a 13.2% decrease in sales compared to their 2017 Q2. The main reason of the drop is caused by the Big Bang members having to serve in the military.
Image: Soompi, AllKpop