SM Entertainment is highly rumored to be debuting their newest girl group next month in July, according to a financial analyst from eBEST Investment & Securities (Formerly E*Trade Korea).
SM Entertainment has yet to debut a new girl group since producing Red Velvet, and there is a lot of anticipation for SM's next girl group. In a Business Post report on June 1, eBEST financial and investment analyst Kim Hyun Yong stated: "SM Entertainment will debut a new girl group in July. SM Entertainment, which produced Girls' Generation, will be showing a new girl group for the first time in 7 years. We should pay close attention to see if they will create a stir in the entertainment industry."
The agency has suffered a hit due to the Coronavirus pandemic, which has limited revenue streams for many entertainment companies that host large-scale live performances. The pandemic led to an overall 39.3% decrease in business profits and a 25.4% decrease in revenue for the first quarter of 2020 compared to the first quarter of 2019. SM Entertainment has tried to offset some of this with the Online Customized Paid Concert 'Beyond LIVE,' however, it is a large deficit compared to the revenue from actual live performances.
Are you excited about SM's new girl group?
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I'm so excited! It's been too long since Red Velvet!