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SM Entertainment Reports Highest Sales Ever During 1st Half Of 2015

By Tamar Herman | August 12, 2015 10:28 AM EDT

The popularity of K-pop keeps growing, and so does the revenue.

South Korean record label and talent agency SM Entertainment recorded its highest sales ever in the first half of 2015, reported Star News on August 11. The company's financial statements showed that the company posted sales of around 141.6 billion won (around $118 million USD) in the first half of the year.

The company's success is due to non-stop releases and continuous promotions from its artists during the first half of the year.

The company saw particular success outside of South Korea. SM Entertainment's sales were up 114% in China alone, as the company made a clear decision to focus promotions on the Chinese market.

The 141.6 billion won sales showed a 9.7% year over year rise for SM Entertainment, and is the company's largest first half of the year sales numbers ever.

Many of SM Entertainment's most popular idol groups released new music in the first half of 2015. TVXQ, Super Junior, Girls' Generation, SHINee, f(x), EXO, and Red Velvet were all active, through group promotions and individual projects.

Shortly after the report was made public, SM Entertainment's stock price rose on the KOSDAQ. August 11 ended the day worth 41,400 won (approximately $35.25 USD), the highest SM has seen since last September.

SM Entertainment is one of the largest South Korean entertainment agencies. The CEO is Kim Youngmin.

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Tamar Herman is a multi-media journalist and the co-founder of KultScene. She is a freelance writer and copy editor, and an MTV Iggy contributor.

Tagged :  SM Entertainment, sales, 2015

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