SM Q3 Operating Profit Reaches 48.2 Billion Won: "Million-Seller Success for NCT WISH, aespa, and More"

Sales Reach 321.6 Billion Won, Net Profit 44.7 Billion Won
Up 32% and 1,107% Year-on-Year, Respectively

SM logo image. Provided by SM Entertainment

On November 5, SM Entertainment announced that its consolidated sales for the third quarter of this year reached 321.6 billion won, with an operating profit of 48.2 billion won.

Sales increased by 32.8% compared to the same period last year, and operating profit rose by 261.6%. Net profit for the period surged by 1,107% to 44.7 billion won.

On a separate basis, sales were 224.5 billion won and operating profit was 40.2 billion won, up 30.5% and 48.6%, respectively. Net profit for the period increased by 101.8% to 32.3 billion won.

SM analyzed that these results were driven by the expansion of album and digital music sales, as major artists such as NCT DREAM, aespa, and NCT WISH achieved million-seller status with their new releases.

The company also added that it has strengthened its cross-generational intellectual property (IP) portfolio with groups such as Super Junior, celebrating their 20th anniversary, as well as aespa and RIIZE, who have expanded their presence in the global market, and new artists like Heart2Heart.

In the fourth quarter, the company plans to release Girls’ Generation Taeyeon’s 10th anniversary best album as a solo artist, mini albums from NCT DREAM and WayV, a Japanese single from TVXQ’s Changmin, and new songs from SHINee’s Minho, NCT’s Doyoung, RIIZE, NCT’s Jungwoo, and aespa.

In the first quarter of next year, full-length albums from EXO and Red Velvet’s Irene, mini albums from NCT U and Ten, and a Japanese mini album from NCT WISH are scheduled for release in succession.

TVXQ’s Changmin, NCT’s Yuta, EXO’s Chanyeol, SHINee’s Key, aespa, NCT DREAM, NCT WISH, and Super Junior are all set to hold concerts both in Korea and abroad.

Co-CEO Jang Cheolhyuk stated, “Based on the SM 3.0 strategy, we will further advance our artist IP-centered business, and by incubating next-generation IP and focusing on our core business, we will establish a sustainable growth model in the global market.”

SM is focusing on strengthening profitability and financial stability through portfolio restructuring centered on core businesses and efficient resource management. The company is also pursuing the merger of SM Studios and the sale of non-core assets, aiming to enhance content production efficiency and increase shareholder value simultaneously.

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