Posted by yckim124 AKP STAFF Wednesday, November 8, 2017

CJ E&M operating profit increases over 300% in the 3rd quarter due to the 'Wanna One Effect'

Wanna One
CJ E&M had a major jump in operating profit in the 3rd quarter of 2017. 

On November 8, CJ E&M announced they've recorded 440,100,000,000 KRW (395 million USD) in total sales and 12,700,000,000 KRW (11 million USD) in operating profit for the 3rd quarter of 2017. In comparison to the same period last year, the total sales have increased 16.2% (YoY) while operating profit has drastically increased by 316.3% (YoY).

SEE ALSO: Swing Entertainment gives an update on Wanna One's possible contract extension

Out of the four departments in CJ E&M (broadcast, film, music, performance), the music department had the greatest increase in sales. 'Produce 101' season 2 boy group Wanna One and 'Show Me The Money 6' are the factors that played major roles in the increase.

In comparison to Q3 of 2016, the music department saw a 40% (YoY) increase in sales and 179.6% increase (YoY) in operating profit.

A strong 'Wanna One Effect' is once again expected in the 4th quarter of 2017 for CJ E&M with the boy group's impending comeback with '1-1=0 Nothing Without You'. 

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