SM, YG, JYP Report Record Combined Sales of USD$106 Million for First Quarter 2014
It has been a few months since we last looked at the financial health of the three major entertainment agencies. Now seems like a good time to see how they are doing in 2014. In May 2014, SM Entertainment (KOSDAQ: 041510), YG Entertainment (KOSDAQ: 122870) and JYP Entertainment (KOSDAQ: 035900) posted their 1st quarter financial results (For the period 01/01/2014 to 31/03/2014).
The results were interesting to see the least and there is a lot of information to digest so here is a brief summary of all the information we are about to cover in the rest of the article
- Total combined sales for first quarter 2014 from the three agencies was approximately USD$106 million, which is a USD$33 million increase compared to last year
- SM Entertainment’s total sales revenue was approximately USD$60.19 million, operating profit was approximately USD$4.27 million and net profit was approximately USD$2.59 million
- YG Entertainment posted total sales revenue of approximately USD$39.5 million while operating profit was approximately USD$7.4 million, with net profit being approximately USD$5.2 million
- JYP Entertainment posted a total sales revenue of approximately USD$6.79 million, with operating income finally back in the black at approximately USD$298,000 and net profit also in the positive at approximately USD$843,000
- All three agencies posted percentage increases in total sales YOY (Year over Year) while both YG and JYP saw percentages increases for operating profit and net profit
- YG Entertainment has broken their previous first quarter records, helped by the success of 2NE1
- JYP Entertainment has finally manage to post positive operating profit thanks in part to their merger last year
YG Entertainment has been all smiles for the last couple years, posting constant healthy increases in total sales, operating profits and net profits. They have seen plenty of success in the last year thanks to continued interest in PSY along with the relative success of 2NE1and Taeyang during the latter half of 2013.
In first quarter 2014, YG Entertainment posted total sales revenue of approximatelyUSD$39.5 million while operating profit was approximately USD$7.4 million, with net profit being approximately USD$5.2 million. These figures are also fairly impressive when compared YOY. Total sales revenue is up 36%, operating profit is up 31% and net profit isup 33%, which means that YG Entertainment has once again beaten their own records and has posted their best ever first quarter results.
The success of “Crush” has helped YG Entertainment break their own records once again
These results were largely thanks to the success of 2NE1′s second album, “Crush,” which made up 13.5% of YG Entertainment’s total sales in first quarter 2014, bringing home approximately USD$5.35 million. 2NE1′s 2014 World Tour and Big Bang In Seoul concerts also contributed positively to YG Entertainment’s first quarter results with total sales revenue of USD$4.57 million or 11.6% of total sales revenue.
YG believes that performances like YG family family tour will help to maintain their momentum
YG Entertainment also expects to continue this momentum through the rest of this year with the 2NE1 world tour concert, YG family world tour, PSY’s comeback and Big Bang’s comeback all scheduled to occur throughout the rest of the year.
*Omitted unrelated parts
Source : Soompi