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JYP Entertainment tops operating profit for the 2nd quarter of 2017, beating both SM and YG

By yckim124   Monday, August 14, 2017   46,482   18,126   150
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Of the 'Big 3,' JYP Entertainment ranked #1 in operating profit for the second quarter of 2017. 


According to the Financial Supervisory Service on August 14, JYP Entertainment recorded 6,929,000,000 KRW (~6,070,083 USD) in operating profit for Q2, which is an 81.5% increase YOY (Year Over Year) or compared to the same period last year. Revenue was recorded at 28,527,000,000 KRW (~24,990,801 USD) and net income recorded 6,813,000,000 (~5,968,462 USD), which is respectively a 59% and 135.9% increase YOY. 

 

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A rep from JYP Entertainment commented, "In the first half of the year, TWICE released two albums and sold 600,000 copies while GOT7 sold 350,000 copies." The great success of the two group's albums are named to be the greatest reason for JYP Entertainment's big increase in profit.


Meanwhile, SM Entertainment recorded 1,378,000,000 KRW (~1,207,183 USD) and YG Entertainment recorded 4,334,000,000 KRW (~3,796,758 USD) respectively in operating profit for Q2.


JYP Entertainment is expected to continue their success in the second half of the year with TWICE's promotions in Japan and GOT7's Japanese tour in November. SM Entertainment is also expected to see a great increase in profit with the comebacks of Girls' Generation, Super Junior, and TVXQ. As for YG Entertainment, Big Bang's fan meeting, Taeyang and G-Dragon's solo concerts, iKON's tour, WINNER's fan meeting, and more are expected to positively impact their profit for the second half of 2017.

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