How much were the earnings and net profits for Korea’s top 3 management companies – SM Entertainment, YG Entertainment, JYP Entertainment – in year 2009?
Managing the top idol groups in Korea, Lee SooMan (SM), Yang HyunSeok (YG) and Park JinYoung (JYP) are also the largest shareholders of the companies. And there have been great interests in the rivalry going on between these 3 entertainment giants amongst fans.
On the 12th, Financial Supervisory Service revealed the earnings of YG Entertainment for year 2009. YG recently reported their earnings on the 9th, so did the other 2 companies, through an electronic announcement system under the service.
Under sales, SM Ent (The only KOSDAQ listed out of the 3) is #1 with 61,788,490,000 KRW in sales. Increase from 43.7 billions KRW recorded in 2008
SM Ent manages some of the biggest idol groups in Korea including So Nyeo Shi dae, Super Junior, SHINee, Dong Bang Shin Ki, f(x) and BoA etc.
But in terms of increase from the previous year, YG Entertainment is #1 with 35,693,360,000 KRW in terms of earnings in 2009, up 92% from the record of 18.5 billions KRW in 2008. This is also the first time the company broke through 30billions KRW in earnings in 10 years since its establishment.
2009 has been a good year for YG En with Big Bang doing well with their concert, GDragon, DaeSung, SeungRi and TaeYang with their solo activities. 2009 was also the debut of their female group 2NE1 which had roped in earnings through their various albums and CFs released.
As for JYP, their earnings last year was 10,163,540,000KRW. There is a drop in 7% in terms of earnings but considering that WonderGirls has been inactive in Korea, this is good results. Idol group 2PM also played a decisive role in the company’s earnings last year with all the saga going on.
Under operating profits taking away sales costs and salaries:
- SM – 9,266,340,000 KRW
- YG – 7,390,890,000 KRW
- JYP – 230,000,000 KRW
- SM – 4,471,310,000 KRW
- YG – 4,162,260,000 KRW
- JYP – lose of 4,677,770,000 KRW
S: StarNews / c:k bites