YG Entertainment posted 31.1 billion won in operating profit on a consolidation basis in the third quarter this year. That was up 272% from the same period a year earlier.
YG Entertainment disclosed on the 7th that third-quarter revenue on a consolidation basis was tentatively tallied at 173.1 billion won. The quarter's revenue was a record high on a quarterly basis. Third-quarter revenue and operating profit grew 72% and 272%, respectively, from a year earlier.
On an accumulated basis for the same period, revenue was 373.6 billion won, up 43.2% from a year earlier, and operating profit swung to a surplus at 49.0 billion won.
A YG Entertainment official said, "Reflecting the new album releases and digital performance of TREASURE and BABYMONSTER, and the global tour results of BLACKPINK, TREASURE, and BABYMONSTER, we recorded a record high in quarterly revenue," and added, "We plan to solidify a foundation for structurally sustainable growth by expanding the activity portfolios of our artists."