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YG Entertainment sets new revenue record of 321.8 Billion KRW ($284 million USD)

By KpopJoA   27 days ago   101,930   17,145   313
Big-Bang,Epik-High,akdong-musician,winner,ikon,black-pink

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On February 22, YG Entertainment released their financial statements for 2016 and the entertainment company surpassed the 300 Billion KRW revenue mark for the first time in its history. 


For the fiscal year of 2016, YG posted an operating profit of 31.9 Billion KRW ($28.2 million USD).  This is an increase of 46.34% compared to the same period in 2015 when YG posted an operating profit of 21.8 Billion KRW ($19.2 million USD), an increase of 10.1 Billion KRW ($9 million USD).


In terms of revenue, YG saw an increase of 66.66% from 2015 to 2016.  YG's revenue in 2016 broke the 300 Billion KRW mark for the first time and posted 321.8 Billion KRW ($284 million USD). Over the same period in 2015, YG posted a revenue of 193.1 Billion KRW ($170.7 million USD).


Despite these huge revenue gains, the net income of YG decreased 41.2% in 2016 compared to 2015. The net income of 2016 was 14.1 Billion KRW ($12.4 million USD) and in 2015 it was 27.9 Billion KRW ($24.6 million USD).


A representative of YG stated, "With artists like Big Bang and iKON having an increased workload overseas there was an increase in revenue, it depends mostly on their activities."  The rep also stated that YG PLUS also helped increase YG's revenue, "The new artist and new media division also experienced successful revenue from sales."


In terms of why the net income decreased despite the huge gains in revenue, the rep attributed this to the big increase in corporation and foreign taxes.


YG revealed that they will be paying out dividends of 200 KRW ($0.18) per share to shareholders. The total dividend payout is 35.48 Billion KRW ($31.37 million USD). Furthermore, the agency will be having a shareholders meeting next month on March 24. 




SEE ALSO: Big Bang's 'FXXK IT' hits over 75 million views

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Tags:

  1. Big Bang
  2. Epik High
  3. Akdong Musician
  4. WINNER
  5. iKON
  6. Black Pink
  7. yg entertainment


imhongry 26 days ago

I'm not surprised that YG has a low net income when they are building huge ass new building

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VVVVVVIP1988 26 days ago

With artists like Psy, Bigbang, Ikon, Winner, CL, akdong musician and  blackpink, it's only natural for YG to keep rising up even though they weren't that active this year compared to companies like bighit and SM. The fact YG steals a top spot with so limited comebacks is just impressive.

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Ange_kpop 26 days ago

Is not a surprise YG is the most successful label overseas. And YG is very smartest boss

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renegade002 26 days ago

WOW! But not that surprised After YG Artists success both overseas activities and album sales last year definitely contributed to this huge success especially BIGBANG and take note IKON and of course His new princesses BLACKPINK. I'm still salty for my Legendary Queens 2NE1 disbandment but all good things always come to an end. I have to move on from that. I'm so excited for WINNER, IKON and BLACKPINK and other YG Artists. I believe 2017 is YG's year. BRACE YOURSELF K-POP FANS!!!!

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Aki06 26 days ago

It is no surprise YG has been doing well these past years

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hyukki 27 days ago

It is natural to grows revenue and operating profits when branching out into many different entertainment area like YG. Net income CAN go down by different factors such as (foreign and domestic) taxes and so forth. There are many companies in Wall Street today that generate Billions of dollars and still have negative earnings per share. There are so many public companies with market cap of Hundreds of Billions dollars with no revenue/income to show for. So in the end, YG is doing fine and it sounds to me like JYP is doing even better (in terms of net income). These are legitimate companies and I am proud of them as a fan of Kpop. My concern is NOT YG but rather JYP. Remember that Wonder Girl fiasco a couple of years ago that drove his company to the ground? I just hope he learned from that terrible mistake. He has something very special in TWICE! I hope he doesn't make them "TT" and help them "Knock Knock" on the world stage. So we can all say "Ooh Ahh" Kpop is like jungle out there folks! Let's "Cheer Up" JYP and Twice!

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wonderboy47 27 days ago

I was just thinking how the hell did they beat JYP's income in 2016 when JYPE definitely was the most successful company last year. Every release they had did really really well. But now I see that YG's Net Income is actually not very high.They have a lot of revenue but they must spend an awful lot of money on things to go from 284 mil to 12mil in actual money made.

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kpopisbaebae wonderboy47 26 days ago

the new building

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imhongry kpopisbaebae 26 days ago

Oh my god, yes. That building is huuuuuge. I knew YG was rich but never how rich. Must've cost fucking hell lot of money

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HeyHoonie 27 days ago

They said YGE already flop, but they forgot YGE not only making music. They have famous models and actors too like lee jongsuk, kang dongwon, lee sungkyung, nam joohyuk, yoo inna, etc. who shined brightly last year. I can't wait what will they offer in variety dept in the future after they signed many pds.

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renegade002 HeyHoonie 26 days ago

Yang Hyung Suk is a very smart business man.

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blackpinkismine 27 days ago

Only in kpop u wil see kpoppers dat r accountants,fashion designers,detectives,evn vocal coaches lmao!!👏

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kpopisbaebae blackpinkismine 26 days ago

lol

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blackpinkismine kpopisbaebae 25 days ago

Wow,i got 10upvotes,never expected it🍻🎉😂

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Craysick 27 days ago

The revenue is nothing guys, the most important is net income. Means in 2016 YG's profit decreasing.

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