71

15

News
Posted by AmieAmore 22 days ago

HYBE releases the 2020 financial report for sublabels Pledis Entertainment and Source Music

AKP STAFF

Every year Big Hit Labels, now known as HYBE, has been releasing its financial report of all the sub-labels and affiliated companies.

The company has been growing every year, especially after acquiring Pledis Entertainment, home to groups such as Seventeen and NU'EST, and Source Music, home to GFriend, in 2020. 

During the same year, Big Hit Entertainment went public and issued shares for 135,000 KRW (~$115 USD), raising the company's value to 5.8 trillion KRW (~4.1 billion USD). They continue to grow as one of the largest entertainment corporations as they venture into content production powerhouse and partner with Naver to create the largest fan community platform.

Recently, HYBE has released the financial report for the year 2020, revealing the financials of the sub-labels as well.

According to the reports, Pledis Entertainment made sales of 69 billion KRW (61.25 million USD) with a net profit of 11 billion KRW (9.76 million USD) in 2020, while Source Music made sales of 8 billion KRW (7.1 million USD) with a net loss of 2.3 billion KRW (2 million USD) in 2020.

Currently, Pledis Entertainment has a debt of 29 billion KRW (25.7 million USD). On the other hand, Source Music has a debt of 12.9 billion KRW (11.45 million USD). Source Music also received a loan of 7.5 billion KRW (6.65 million USD) from Big Hit.

  1. misc.
25 23,094 Share 83% Upvoted

15

Hyungshi
Hyungshi1,778 pts 22 days ago 0
22 days ago

it seem there's still a lot of work ahead for Pledis and Source Music to cover the debts

Share

11

forgivemenot1
forgivemenot11,326 pts 22 days ago 4
22 days ago

Well that was interesting, it sounds like Source wasn't profitable before Big Hit bought them and is still loosing money on the other hand Pledis was more surprising, I thought with Seventeen doing so well and with NU'EST on the rise that Pledis was doing so well I actually wondered why they would sell out to Big Hit, while profitable it's still a shock they have a debt of almost 26 million USD!

The information I have states that Pledis made profit in 2018 and 2019 and only a small loss in 2017 of a few hundred thousand, makes me wonder what Pledis spent that much money on that they're in debt.

Share

4 more replies

SHOW ALL COMMENTS

allkpop in your Inbox

New Message

SEND