It was recently revealed that Korea's 'Big 3' music agencies - YG, SM, and JYP Entertainment - earned a combined revenue of $150 million USD in sales for 2010, a $50 million increase compared to 2009. According to a report released by Financial Supervisory Service's DART (Data Analysis, Retrieval and Transfer System) on March 30th, SM Entertainment declared that they had made $86,400,963 USD in sales in 2010. Compared to their total of $61,788,496 USD last year, the agency managed to increase their profits by $25 million USD in a year. In 2009, their net profit during the term was recorded at $4.5 million USD. In 2010, the agency saw an increase by five times the amount, since they recorded a profit of $21.8 million USD. In the same report made on April 12th for YG Entertainment, the agency recorded $44,772,895 USD in sales last year, with $9.8 million USD recorded in net profit during the term. Having recorded $35,693,365 million USD in 2009, the agency saw nearly a $10 million USD increase within a year. Their net profit also doubled from $4.1 million USD in 2009. As for JYP Entertainment, the agency saw an increase from $10,163,540 USD in 2009 to double that of $21.6 million USD in 2010. The company was also previously reported to be at a deficit of $4.7 million USD in 2009, but recorded a net profit of $904,340 USD in 2010. SM Entertainment also saw a sharp increase in their royalty income. After closing 2009 with $44.1 million USD, the agency made nearly a $20 million increase by recording $24.5 million USD this year. As for advertisement endorsements, the agency saw a $4.5 million USD increase from $21.1 million USD in 2009 to $25.6 million USD in 2010. YG Entertainment's endorsement income also increased from $6.9 million USD in 2009 to $10.4 million USD in 2010. Performance/concert income rose from $4.9 million USD to $6.3 million USD in 2010. JYP Entertainment saw an increase in their album sales, which recorded at $1.3 million USD in 2009, and jumped to $2.3 million USD in 2010. In contents sales, the agency recorded an even bigger jump with $2.1 million USD in 2009, and finally $5.5 million USD in 2010. Source + Photos: Edaily via Naver, Sports Chosun via Nate
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Posted by Thursday, April 14, 2011
SM, YG, & JYP Entertainment earned a combined revenue of $150 million USD in 2010
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