SEE ALSO: '2025 Melon Music Awards' full winners list featuring G-Dragon, Jennie, aespa, IVE, and more
On March 4, SM officially announced that it made an estimated, maximum amount of 287 billion won (approx. $261 million USD) in total sales during the year of 2014. This is a 6.8% rise from their 269 billion won ($245 million USD) total sales amount in 2013.
SM credits a big part of their sales growth to their activities in China. Compared to their sales in 2013, SM made a 146% sales growth in China with 25.6 billion won ($23.3 million USD). SM expects this trend to continue in the years to come.
As for SM's activities in Japan, due to the yen declining in value, the relocation of the company building, rent increase, new management system, increased labor costs, etc., SM only saw a growth of 15% in profit in Japan.
SM has additionally reported that their subsidiary SM Culture & Contents has increased in 5.8 billion won ($5.3 million USD) in total sales compared to their total sales in 2013, making the profit amount 60.6 billion won ($55.1 million USD). However, due to drama and broadcast production cost and management activities, SM C&C's deficit also increased by 6.3 billion won ($5.7 million USD).
In other news, SM is still richer than us all.
SHARE
Log in to comment