Cube Entertainment Reports Record Quarterly Performance... 34% Increase in Revenue and 180% Rise in Operating Profit

[Asia Economy Reporter Jang Hyowon] Cube Entertainment announced on the 12th that its consolidated sales for the first quarter of this year reached approximately 25.5 billion KRW, a 34% increase compared to the previous quarter, achieving the highest performance in its history. Operating profit for the same period increased by 180% to about 1.8 billion KRW, and net profit rose by 120% to about 1.3 billion KRW.

The company stated, "Starting with Pentagon in January, followed by BTOB in February, and (G)I-DLE in March, Cube's representative artists made their comebacks one after another. Cube Entertainment's boy group Pentagon released their 12th mini-album (IN:VITE U) in January and achieved their first-ever number one on terrestrial broadcasting. In February, BTOB ended their military hiatus and made a comeback as a full group after four years with their third full-length album 'Be Together.'"

They continued, "In March, (G)I-DLE reorganized as a five-member group and released their first full-length album (I NEVER DIE). They made a spectacular comeback by winning seven music show awards with the title track 'TOMBOY' and achieving over 100 million views on the music video."

In particular, 'TOMBOY' ranked number one on the iTunes Top Album chart in 24 regions worldwide and topped the K-Pop Top Album chart in 11 regions. The first full album 'I NEVER DIE' reached 58th place on the US Billboard 'Global 200' chart, and the company emphasized that album sales increased by approximately 780% compared to the previous quarter.

A company representative added, "The cosmetics distribution business, which has consistently generated sales exceeding 10 billion KRW since the second quarter of 2021, remains popular in overseas markets. The more than 10% increase in performance compared to the previous quarter also contributed to achieving the highest quarterly performance in history."

Meanwhile, Cube Entertainment established a joint venture, ANICUBE ENTERTAINMENT (hereinafter 'ANICUBE'), last year with Animoca Brands, the parent company of The Sandbox and a global leader in blockchain technology. They are preparing to launch NFT issuance and a music metaverse platform. Recently, ANICUBE conducted an NFT airdrop using Cube Entertainment's IP, and the final number of applicants surpassed 2.3 million within two weeks, showcasing concrete results.

A Cube Entertainment official explained, "In the second half of the year, we plan to introduce a K-Culture complex cultural space in the LAND, a virtual space within The Sandbox game. To this end, we are currently partnering with various domestic and international companies, including blockchain technology specialist Nestreamedia Co., Ltd. (hereinafter 'Nestream') and global fintech company Republic."

He added, "The 'Korean Complex Cultural Space' created within The Sandbox LAND will play a leading role in spreading diverse Korean cultures to users worldwide," emphasizing the significance.

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