The three major entertainment agencies, SM Entertainment (KOSDAQ: 041510), YG Entertainment(KOSDAQ: 122870), and JYP Entertainment (KOSDAQ: 035900), have published their earnings reports for the first half of 2013. The new reports showed that the combined total sales of all three agencies have hit a new high for the industry with both YG Entertainment and JYP Entertainment showing improved results compared to the same period last year.
For people that don’t like reading lots of numbers the results can be summarized as such.
The published reports show that the three KOSDAQ listed agencies earned total combined sales of approximately$155 Million USD in the first half of 2013 (Converted at current exchange rates of 1000 KRW to 0.90 USD). This figure is a new sales record with the three agencies earning total combined sales of approximately $102 Million USD during the same period last year. This is approximately a 50% increase in total sales.
Given the fact that the three agencies take up a substantial portion of the overall K-pop industry in terms of market share and revenue, the new increased figures show that the industry is still relatively healthy and showing healthy year over year growth rates.
For people that don’t like reading lots of numbers the results can be summarized as such.
- Combined Sales for the 3 agencies broke new records at approximately $155 million USD (An increase of $53 million USD compared to 2012)
- SM Entertainment has broken new sales records at $96.31 million USD, but has seen substantial profit losses for the first half of 2012 due to substantial losses in music exports and increase in expenses
- YG Entertainment has broken every record, sales, operating profits and net profits. However, it was still below investor expectations and they expect less growth through the year due to the absence of the YG Family Concertand 2NE1′s Arena Tour this year
- JYP Entertainment continued to see losses, but managed to reduce them somewhat. Parent company JYPmight potentially be better off
The published reports show that the three KOSDAQ listed agencies earned total combined sales of approximately$155 Million USD in the first half of 2013 (Converted at current exchange rates of 1000 KRW to 0.90 USD). This figure is a new sales record with the three agencies earning total combined sales of approximately $102 Million USD during the same period last year. This is approximately a 50% increase in total sales.
Given the fact that the three agencies take up a substantial portion of the overall K-pop industry in terms of market share and revenue, the new increased figures show that the industry is still relatively healthy and showing healthy year over year growth rates.
Meanwhile YG Entertainment has once again enjoyed another quarter of increases. YG Entertainment’s total combined sales for the 2nd Quarter of 2013 was approximately $27.5 million USD with total combined sales for the first half of 2013 coming to approximately $54 million USD. This is a 49% YOY increase in total sales for the first half of the year and is YG’s best ever results since being listed.
Profits were also positive for YG Entertainment with second quarter operating profits coming to approximately$4.95 million USD with combined operation profits for the first half of 2013 coming to approximately $10.62 millionUSD. Context wise, Operating profits for the first half of 2013 rose 53% compared to 2013 and were once againYG’s best ever results.
Profits were also positive for YG Entertainment with second quarter operating profits coming to approximately$4.95 million USD with combined operation profits for the first half of 2013 coming to approximately $10.62 millionUSD. Context wise, Operating profits for the first half of 2013 rose 53% compared to 2013 and were once againYG’s best ever results.
New albums like Seungri’s second Album expected to increase music sales for YG in the 3rd quarter of 2013
The string of good results continued to agency’s net profits with 2nd quarter net profits at approximately $4.93 million USD and combined net profits for the first half of 2013 sitting at approximately USD$8.68 million. The results mean that YG Entertainment has seen its first half net profits rise 47% YOY and the results are once again a new record for YG Entertainment. However, the results were lower than expected due to an absences of music sales in the first half of this year.
The string of good results continued to agency’s net profits with 2nd quarter net profits at approximately $4.93 million USD and combined net profits for the first half of 2013 sitting at approximately USD$8.68 million. The results mean that YG Entertainment has seen its first half net profits rise 47% YOY and the results are once again a new record for YG Entertainment. However, the results were lower than expected due to an absences of music sales in the first half of this year.
However the lack of a YG Family Concert in 2013 is expected to reduce overall sales in 2013
YG Entertainment, however, expects a much healthier third quarter thanks to the release of albums from Kang Seung Yoon, G-Dragon, Seungri along with G-Dragon’s concerts. However the weakening of the Yen might affect their growth for the rest of the year along with the absences of major concerts this year such as the YG Family Concert and 2NE1′s Arena Tour. Also of note was the relative disappointment of PSY’s “Gentlemen” compared to “Gangnam Style.”
*NITE: Non-YG releted parts ommitted.
Source: Soompi.com
YG Entertainment, however, expects a much healthier third quarter thanks to the release of albums from Kang Seung Yoon, G-Dragon, Seungri along with G-Dragon’s concerts. However the weakening of the Yen might affect their growth for the rest of the year along with the absences of major concerts this year such as the YG Family Concert and 2NE1′s Arena Tour. Also of note was the relative disappointment of PSY’s “Gentlemen” compared to “Gangnam Style.”
*NITE: Non-YG releted parts ommitted.
Source: Soompi.com