Big Three, YG, SM & JYP Sales Soar During First Half Of 2014

The top three entertainment companies in South Korea reported huge gains in their sales for the first half of 2014.

Korea's Yonhap News Agency reported that SM Entertainment, YG Entertainment, and JYP Entertainment had all reported an increase in sales between January and June of this year. The three entertainment companies, considered the "Big Three" of the Korean entertainment industry, have all improved since the previous year. JYP Entertainment experienced monumental gains that greatly differ from the last three years of losses.

SM Entertainment reported sales of 129.1 billion Won ($127.3 million,) in comparison to the 105.9 billion Won reported in 2013, a 20.7% increase. However, while sales soared, the company's net profit suffered, due to the fact that it was audited and faced additional taxes. Even so, the company's operating profit (pre-taxes and interest,) still increased 16.5% to 10.2 billion won ($9.9 million.) SM Entertainment has seen much success from groups like Girls' Generation, EXO, f(x), SHINee, Super Junior, and recently debuted a new group, Red Velvet.

YG Entertainment saw slightly less sales than SM Entertainment, increasing sales 28% up to 77.3 billion Won ($75.6 million.) The company's net profit increased 2.1% to 9.8 billion Won ($9.6 million.) YG Entertainment also recently gained a 61 billion Won investment from the French group LVMH, which produces Louis Vuitton. YG Entertainment's top groups are BIGBANG, 2NE1, and Epik High, and the company recently debuted WINNER. It also announced a new group to debut next year, iKON.

Despite losses in previous years, JYP Entertainment reported sales of 16.5 billion Won ($16.2 million,) more than three times of its sales in 2013. This is the first time that JYP Entertainment has seen gains in the last three years, and is likely related to the continuing popularity of 2PM and Miss A, as well as the debut of a new group, GOT7, and Wonder Girls' Yeeun going solo as HA:TFELT.

With the reports of sales, each company also saw an increase in shares, despite multiple scandals affecting each company.

Tags
big three kpop
SM Entertainment
YG Entertainment
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