Posted by Pakman0 pt Tuesday, March 10, 2015

JYP Entertainment is back on its way up, experiences increase in profits in 2014

It looks like things are looking up forJYP Entertainmentthese days. On March 10, JYP revealed that they experienced a great performance in terms of profit for 2014!

JYP stated that during the fiscal year of 2014, their consolidated sales amounted to 48.5 billion won (approx. $43.7 million USD), which is a 127.4% increase from 2013. In terms of net profit, they earned 7.85 billion won ($7.07 million USD), which, compared to their 3.94 billion won ($3.55 million USD) net loss they experienced in 2013, marks a complete turn around for the company.

JYP Entertainment owes this success mainly to its decision in October 2013 to merge with its unlisted (not listed on the stock market exchange) company, JYP. Following this merge, JYP Entertainment's profit and loss structure was greatly improved and their sales increased. In addition to this, JYP said their self-produced concerts and their subsidiary company JYP Pictures, along with the dramas and movies it led with actors Yoon Park and Choi Woo Sik, contributed to the company's growth as well.

In 2015, JYP expects to continue with their success. In addition to 2PM and miss A activities, following GOT7's '2015 Asia Showcase Tour,' which occurred during the first quarter, GOT7 will also be holding an Asia Tour in Japan during the second half of the year. JYP will be promoting their rookie girl group during the third quarter, so there's that to look forward to as well! Meanwhile, JYP expects to grow alongside their new business, JYP Pictures, in the world of cinema.

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