KPOP’s top three management agencies, SM Entertainment (SME), YG Entertainment (YGE), and JYP Entertainment (JYPE), have recorded all-time high revenues in 2010, exceeding 150 billion won (137 million USD) in total when combined together, local media Star News Money Today reported in an exclusive report today. Star News acquired revenue audit reports of all three labels through an internal system built by the Financial Supervisory Service from Jan. 1st to Dec. 31st of last year, as they were given access to each company’s total sales, sales revenue, and net profit in the cited period. According to the report, all three companies recorded a surplus in revenue, which was more than 150 billion won (137 million USD) altogether. SME’s total sales from 2010 were 86.4 billion won (79 million USD), an increase from 61.7 billion won (57 million USD) they recorded in 2009—the highest in company history. Their sales revenue also rose by 15 billion won (14 million USD) to 25.4 billion won (23 million USD) compared to the previous year, while their net profit reached 21.8 billion won (20 million USD), surpassing the 20 billion won mark for the first time as well.
YGE too had the best year in terms of total sales and net profit. The hip hop label’s total sales were 44.7 billion won (41 million USD), sales revenue 10.3 billion won (940K USD), and net profit 9.7 billion won (890K USD) in the past year. It only took them one year to break their previous high which was set in 2009.
JYPE had the lowest net revenue among the three, but nonetheless put up quite impressive numbers. Their total sales from last year was 21.6 billion won (20 million USD), more than twice the amount from 2009, while their sales revenue came in at 5.9 billion won (5.4 million USD), a remarkable growth from the previous year’s 230 million won (210K USD). What’s more impressive is the fact that JYPE was finally able to turn things around and record a surplus of 904 million won (830K USD). In 2009, JYPE ran a deficit of 468 million won (430K USD) due to their investment in Wonder Girls’ US promotions.
There’s no question these three agencies and their artists, especially the idol groups, are leading the way for KPOP’s explosive popularity around the world. Soompi has seen it firsthand how popular globally these idol bands are, e.g. SNSD, Super Junior, Big Bang, 2NE1, Wonder Girls, and 2PM, and these revenue figures are just a testament to their growing business and global appeal that is sure to get bigger over time. It should be interesting to see how much growth (or reduction?) these companies and KPOP as a whole see this year too!
Source: Soompi
Shared by: YoonTeuki @SMTownJjang
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