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Posted by SornIsBae1,615 pts Sunday, September 8, 2019

YGE records a 2.1 billion won deficit in first half (Q1, Q2)

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YG Entertainment that was once the most profitable entertainment agency is struggling.





Unlike other agencies that are reporting record profits, YG Entertainment recorded a 2.1 billion won (1.76 million USD)deficit throughout the first and second quarters.

Even lower tier agencies like FNC posted an operating profit surplus of 800 million won (670,000 USD) in the second quarter. Compared to YG, FNC's operating surplus is four times greater than operating revenues posted by YG.

When compared to Big Hit, the gap is even greater. Big Hit reported a record first half operating profit of 39.1 billion won (32.6 million USD) thanks to global achievements from its main group BTS. SM and JYP also generated profits of 6.7 billion (5.6 million USD) won and 15.2 billion won (12.7 million USD), respectively.

  1. Yang Hyun Suk
50 44,902 Share 77% Upvoted

47

DTRT7,349 pts Sunday, September 8, 2019 4
Sunday, September 8, 2019

Maybe if their ex-CEO didn't embezzle (steal) and gamble away the money YG performers generated...

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The_Doctor211 pts Sunday, September 8, 2019 2
Sunday, September 8, 2019
Don't forget YG had to put together around $67B+ won earlier this year to repay Louis Vuitton Moe Hennessy for their ill-advised investment in YG Entertainment. The shares are worth less than half the 44.4K won LVMH paid for them so YG is on the hook for a buyback at the original selling price plus interest.

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