YG Entertainment achieved a dramatic rebound in its performance in the second quarter of this year. BLACKPINK's stadium world tour and TREASURE and BABYMONSTER's global activities have begun in earnest, signaling a continued high-flying performance in the second half.
On the 8th, YG stated that it recorded a consolidated operating profit of 8.4 billion won for the second quarter, marking a turnaround from an operating loss of 11 billion won in the same period last year. This figure exceeds market expectations (3.1 billion won) by 170.9%. Sales increased to 100.4 billion won, showing an 11.6% rise compared to the same period last year, and net profit also successfully turned positive at 11.2 billion won.
YG noted that "the global success of rookie artists such as BABYMONSTER's world tour and TREASURE's North America tour drove profitability," adding that "revenue from concerts, digital content, and merchandise sales has risen even without album releases, maintaining stable growth."
In the second half, YG's top artists are set to make a significant impact. BLACKPINK is currently on a stadium world tour titled 'DEADLINE,' covering 31 shows across 16 cities, during which they set a record as the first girl group to sell out two days at the SoFi Stadium in Los Angeles, attracting 100,000 spectators. They are expected to perform at Wembley Stadium in the UK on the 15th and 16th, marking another historic achievement as the first K-pop female artist to do so.
TREASURE will release their third mini-album 'LOVE PULSE' in September and begin their 'PULSE ON' tour, covering 12 cities in Asia starting in October. They will hold three performances in Seoul, followed by stops in Japan, Bangkok, Jakarta, and Singapore to meet fans.
BABYMONSTER is currently on a world tour titled 'HELLO MONSTERS,' covering 32 shows in 20 cities just one year after their debut. They have made their mark by entering the Billboard 200 chart and surpassing 1.6 million album sales, showcasing the achievements expected of a 'monster rookie.' With a pre-released track in September and a mini-album release in October, they are anticipated to be another pillar supporting YG's performance in the second half.
The background behind this turnaround into profit lies in Chief Producer Yang Hyun-suk's restoration of the 'authentic YG color.' The success of BABYMONSTER, the first girl group he directed, has proven the evolution and strength of YG's content strategy. Yang Hyun-suk's 'meritocracy' has borne fruit.
YG is seeking to expand beyond traditional markets in response to changes in the Chinese market in the second half. With a surprising performance in the second quarter, combined with the full-scale activities of its artists, YG's growth is expected to accelerate even further.
[Photo] YG Entertainment
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