[Public Notice+] YG PLUS Posts Operating Profit for 2 Consecutive Quarters... "Expecting Performance Improvement with Full-Scale Artist Activities"

[Asia Economy Reporter Hyunseok Yoo] YG PLUS announced on the 12th that its consolidated financial statements for the second quarter recorded sales of 27.085 billion KRW and an operating profit of 632 million KRW, representing decreases of 31.04% and 72.78% respectively compared to the same period last year. However, compared to the previous quarter, sales increased by 40.27% and operating profit turned positive.

The company stated, "Although the second quarter performance declined compared to the same period last year due to the novel coronavirus disease (COVID-19), steady growth in the music and golf businesses led to a quarterly operating profit."

Meanwhile, YG PLUS, which is in charge of YG's album and digital music distribution, merchandise, and advertising businesses, is expected to see performance improvements starting in the second half of the year as artists' activities become more active.

BLACKPINK made a comeback at the end of June and is preparing to release a full-length album in October, and TREASURE, considered this year's top rookie, recently debuted and has begun full-scale activities. Additionally, due to increased demand for golf amid COVID-19, growth in the booking platform and simulator business is also anticipated.

The company added, "Although we faced difficulties due to COVID-19 through the first half of the year, from the third quarter onward, we expect performance improvements in our core businesses such as digital music distribution, merchandise, and advertising, supported by the active activities of our artists."

This content was produced with the assistance of AI translation services.