JYP Entertainment's Q3 Cumulative Operating Profit Reaches 131.5 Billion KRW, Surpassing Last Year's Annual Profit

3Q Operating Profit 43.8 Billion KRW, Up 59.2% YoY
Operating Profit of 131.5 Billion KRW Through 3Q, Exceeding Last Year's Annual Profit
Strong Performance Expected to Continue with Overseas Portfolio Expansion

JYP Entertainment announced on the 10th that its consolidated Q3 results showed sales of 139.6 billion KRW and operating profit of 43.8 billion KRW. Sales for the same period last year were 95.1 billion KRW, and operating profit was 27.5 billion KRW. This represents increases of 46.7% and 59.2%, respectively. The operating profit margin also reached 31.8%.

The results slightly exceeded existing market expectations. The FnGuide consensus forecast was sales of 134.4 billion KRW and operating profit of 42.5 billion KRW. JYP Entertainment surpassed last year’s full-year performance with just the Q3 results. The total sales for the first three quarters of this year amounted to 409.4 billion KRW, with operating profit of 131.5 billion KRW. Last year’s full-year sales were 345.8 billion KRW, and operating profit was 96.6 billion KRW.

Looking in detail, album and digital music sales in Q3 accounted for the largest portion at 57.7 billion KRW. During this period, Itzy’s 7th mini album and NMIXX’s 3rd single were released. Additionally, concert sales from world tours and Japan dome tours by groups such as TWICE and Stray Kids generated 11.7 billion KRW. Other sales included advertising at 8.1 billion KRW, appearance fees at 4.8 billion KRW, and portrait rights and others totaling 57.2 billion KRW.

JYP Entertainment is expected to continue strong performance through expanding its overseas portfolio. The newly debuted U.S.-based rookie girl group VCHA has received a positive response, surpassing 10 million views on their music video even before debut. The local Chinese boy group 'Project C (tentative name)' is preparing for debut, and a male version of the girl group NiziU, active in Japan, is also in preparation. Furthermore, major artists have been making consecutive comebacks and have started full-scale activities. Boy group Stray Kids released their mini album '樂-STAR (Rock-Star)' on the 10th. Park Jin-young, CCO (Chief Creative Officer), is also scheduled to meet fans with a new album on the 20th.

Meanwhile, JYP Entertainment recently won a bid for 10,675 square meters of land in the Godeok-dong area of Gangdong-gu for 75.5 billion KRW. This is ten times the size of the office site in Seongnae-dong, Gangdong-gu. The land is intended for building a new headquarters. JYP Entertainment used the Cheongdam-dong headquarters in Gangnam-gu from 2002 until moving to the current building in 2019. There have been ongoing opinions that the size of the headquarters is small compared to the rapidly growing business scale.

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