JYP Entertainment reports a sales increase of 76%, operating profit increase of 119% in Q1 of 2023

JYP Entertainment has reported an impressive performance in the first quarter of 2023.

First, the agency reported total sales of 118 billion KRW (~ $88.4 million USD), a 76% increase from the same quarter in 2022. In operating profits, the agency reported a total amount of 42 billion KRW (~ $31.5 million USD), a whopping 119% increase from the same quarter in 2022. 

In the first quarter of 2023, TWICE took the lead in album sales with a total of 1.78 million copies in sales, followed by Stray Kids with 930,000 copies, and NMIXX with 680,000. 

Sales from concert revenues also increased by 105.7% for this quarter, and sales from MD and miscellaneous revenues increased by 143%.

Meanwhile, JYP Entertainment's performance is expected to maintain its upward trajectory in the second quarter of 2023 through sales from Stray Kids's Japanese and Korean comeback albums, as well as TWICE's Japan tour.