YG Entertainment’s first quarter profits for 2016 have set a record high for the company, reaffirming their status as one of Korea’s top entertainment agencies.
Published on May 11, YG Entertainment’s profits for the first quarter total 9.48 billion won (approximately $8 million), a record high since the company’s establishment in 1996. This marks an increase of 32.6% compared to the same period in 2015.
Also in the first quarter, gross sales figures mark an impressive 72.95 billion won (approximately $62.2 million) at an increase of 64.3% on last year’s figures.
Domestic sales constitute 40% of the figures, with sales in Japan contributing 36%, and China making up 20%. With the majority of sales being made abroad, YG Entertainment’s prospects as a global enterprise seem bright.
Considering BIGBANG’s recent world tour as well as full-scale promotions for WINNER and iKON, the company’s amazing success comes as no surprise to many.