Earnings of SM, YG, and JYP for the first half of 2013 revealed

The first half of 2013 sales numbers and figures from Korea’s top three entertainment agencies, SM Entertainment (041510:KOSDAQ), YG Entertainment (122870:KOSDAQ), and JYP Entertainment (035900:KOSDAQ), have been revealed as all three companies are publicly traded on the Korean electronic stock exchange, KOSDAQ.

On August 29, Korea’s Financial Supervisory Service revealed the 14th semi-annual financial report to the public, which reveals the earnings of all three agencies from January 1, 2013 to June 30, 2013.

The accumulated revenue of all three companies in the first half of the year amounted to a record high of 173 billion KRW (approximately $155,889,608.00 USD). In comparison to the same time frame last year, the total revenue for the first half of 2012 for SM, YG, and JYP was 114.1 billion KRW (approximately $102,815,053.60 USD). When looking at just the overall numbers, K-Pop seems to be on a consistent rise because a good fraction of their increased revenue is from the recent success of the genre.

SM Entertainment

When looking at the companies individually, SM’s revenues were 56,907,143,414 KRW (approximately $50,915,624.34 USD) in the first quarter, and in the first half, they recorded a high of 106,893,380,255 KRW (approximately $95,639,015.90 USD). It’s been 10 years since SM became a publicly listed company on the KOSDAQ, and the company has been able to achieve a record with these revenue numbers.

In the second quarter of the year, the cost of sales and sales employees of SM netted to 3,657,800,012 KRW (approximately $3,272,685.29 USD). In the first half of the year, it netted a profit of approximately 8,733,625,561 KRW (approximately $7,814,098.05 USD).

In comparison to SM’s revenue to the first half of last year, these numbers show a decline in profit.

YG Entertainment

In just the second quarter of this year, YG posted a revenue of 30,588,385,262 KRW (approximately $27,367,859.99 USD). For the first half of the year, YG amassed revenues of 60,394,746,793 KRW (approximately $ 54,036,032.31 USD).

Comparing this to the first half of last year, when YG accumulated approximately 40.6 billion KRW (approximately $36,325,392.99 USD), YG posted a gain of 20 billion KRW (approximately $17,894,282.26 USD), breaking a record-high in its revenue.

In the second quarter of the year, YG’s business operations accumulated 5,501,355,465 KRW (approximately $4,922,140.38 USD). In the first half of the year, the agency accumulated 11,792,847,322 KRW (approximately $10,551,226.93 USD). YG’s net income in the second quarter of the year accumulated to 5,471,594,676 KRW (approximately $4,895,512.98 USD). In the first half of the year, it collected a record profit of 9,635,257,537 KRW (approximately $8,620,800.90 USD). Both YG’s operating profit and net profit in the first half of the year is its highest ever.

JYP Entertainment

In the second quarter of this year, JYP accumulated 2,835,969,621 KRW (approximately $2,537,382.04 USD). In the first half of the year, it increased its revenue by accumulating 5,643,044,831 KRW (approximately $5,048,911.85 USD). Compared to last year’s first half revenue, JYP’s earning increased by 2.3 billion KRW (approximately $2,057,842.46 USD).

In the second quarter of the year, JYP posted a revenue of 1,367,369,070 KRW (approximately $1,223,404.40 USD). In the first half of the year, it broke a record in operating loss as JYP posted a loss of 2,304,316,326 KRW (approximately $2,061,704.34 USD). In the case of net income, JYP accumulated 1,559,973,651 KRW (approximately $1,395,730.44 USD) in the second quarter of the year, while in the first half of the year JYP’s net income was 2,629,923,425 KRW (approximately $2,353,029.60 USD). When comparing numbers with last year, JYP managed to stop the bleeding somewhat and reduce the deficit in its losses.

In the case of JYP, the label’s revenue is heavily relied on idol groups, the Wonder Girls, 2PM, and 2AM; also the recent addition of miss A adds to JYP’s overall profile.

Article taken from: allkpop
Shared by: Haziqah @ sjcouples
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