How much were the earnings and net profits for Korea’s top 3
management companies – SM Entertainment, YG Entertainment, JYP
Entertainment – in year 2009?
Managing the top idol groups in Korea, Lee SooMan (SM), Yang HyunSeok
(YG) and Park JinYoung (JYP) are also the largest shareholders of the
companies. And there have been great interests in the rivalry going on
between these 3 entertainment giants amongst fans.
On the 12th, Financial Supervisory Service revealed the earnings of
YG Entertainment for year 2009. YG recently reported their earnings on
the 9th, so did the other 2 companies, through an electronic
announcement system under the service.
Under sales, SM Ent (The only KOSDAQ listed out of the 3) is #1 with
61,788,490,000 KRW in sales. Increase from 43.7 billions KRW recorded in
SM Ent manages some of the biggest idol groups in Korea including So
Nyeo Shi dae, Super Junior, SHINee, Dong Bang Shin Ki, f(x) and BoA etc.
But in terms of increase from the previous year, YG Entertainment is
#1 with 35,693,360,000 KRW in terms of earnings in 2009, up 92% from the
record of 18.5 billions KRW in 2008. This is also the first time the
company broke through 30billions KRW in earnings in 10 years since its
2009 has been a good year for YG En with Big Bang doing well with
their concert, GDragon, DaeSung, SeungRi and TaeYang with their solo
activities. 2009 was also the debut of their female group 2NE1 which had
roped in earnings through their various albums and CFs released.
As for JYP, their earnings last year was 10,163,540,000KRW. There is a
drop in 7% in terms of earnings but considering that WonderGirls has
been inactive in Korea, this is a good result. Idol group 2PM also played
a decisive role in the company’s earnings last year with all the controversy going on.
Under operating profits taking away sales costs and salaries:
1. SM – 9,266,340,000 KRW
2. YG – 7,390,890,000 KRW
3. JYP – 230,000,000 KRW
Also, under net profit
1. SM – 4,471,310,000 KRW
2. YG – 4,162,260,000 KRW
3. JYP – loss of 4,677,770,000 KRW
For JYP , it was not a loss for the company and its artists,
but rather the loss was absorbed by the investors for WonderGirls’
American debut last year. So with that, the assessment of loss can only
be attained based on the WonderGirls’ success in their legitimate
American activities this year.
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