YG Entertainment Predicted to Have the Highest Sales Growth Rate in the First Quarter of 2021
YG Entertainment, which is home to some of the biggest K-pop acts like BLACKPINK, iKON, and BIGBANG, placed first on the list of expected sales growth rates in the first quarter of 2021 of broadcasting and entertainment companies.
YG Entertainment Would Rank No. 1 Concerning Sales and Profit in the First Quarter of 2021
On May 9, Korean media outlet The Value News reported that YG Entertainment has the highest expected sales growth rate in the first quarter of 2021, from January to March, among the entertainment and broadcasting agencies in Korea.
The news outlet stated that the sales in the first quarter of BLACKPINK's agency are estimated to rise by 30.49% compared to the record in the same period last year, according to a survey by the Buffett Research Institute that specializes in corporate analysis. The company is said to earn 68.9 billion won from the activities in the first three months of the year.
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After YG Entertainment is Wysiwyg Studios with an increase of 29.82%, SBS with 12.07%, Studio Dragon Corporation with 5.15%, and LG HelloVision Corp. with 4.52%.
In addition to sales, TREASURE's company is also projected to see an escalation in operating and net profits in the first quarter of 2021. The Value News said that the label would gain 5.2 billion won in operating profit and 2.7 billion won in net profit.
YG Entertainment's Expected Future Results after BLACKPINK, BIGBANG, and TREASURE Join Weverse
The Korean media outlet went on to say that YG Entertainment would also have an improvement in earnings through the launch of Weverse accounts of BIGBANG, BLACKPINK, and TREASURE. Previously, iKON's label formed a strategic partnership with HYBE (formerly called Big Hit Entertainment) to create a connection between them in several fields, including media platforms and content distribution.
READ MORE: YG Entertainment Launches 'New Boy Group Debut Project'
Through this alliance, YG Entertainment will extend its artist influence and global reach through HYBE's Weverse, a new fan community platform. Moreover, YG entrusted Weverse with the right to sell its artists' goods.
TREASURE, YGE's new boy group, joined the Weverse Shop at the same time as their debut in Japan at the end of March. In the second half of the year, BLACKPINK and BIGBANG are scheduled to enter Weverse.
With this, it is predicted that the sales of MD, which was held generally offline, will rise significantly through the expansion of the distribution channel to Weverse.
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YG Entertainment is projected to record 10 billion won in music revenue in the first quarter of 2201. A total of 980,000 copies were already sold, including a portion of BLACKPINK's regular album, Rosé's solo debut single "R," and TREASURE's single album. Digital content sales are also said to rise by 14.7%, earning 11.4 billion won.
Activities of the YG artists are expected to continue in the coming months. TREASURE would release new single albums in the second and third quarters, following their first studio album, "The First Step: Treasure Effect," which was launched on Jan. 11. Meanwhile, BLACKPINK is said to make a comeback in the second half of 2021.
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Written by Mhaliya Scott
