The Q2 financial reports of major entertainment agencies have been revealed.
According to Sports Seoul, SM Entertainment had a successful second quarter in 2018 with an increase in both sales and profit. The agency recorded 235 billion KRW (208 million USD) in sales, 20.4 billion KRW (18 million USD) in operating profit, and 15.6 billion KRW (13.7 million USD) in net profit.
Compared YoY to Q2 of 2017, the sales have increased nearly 100 billion KRW (88.5 million USD), and the agency saw a gain in net profit instead of a loss.
On the contrary, YG Entertainment saw a drop in both sales and profit in the second quarter compared to the same period in 2017. The agency recorded 134 billion KRW (119 million USD) in sales, 3.7 billion KRW (3.3 million USD) in operating profit, and 380 million KRW (336,134 USD) in net profit.
This is a 67.5% decrease in operating profit, and a 13.2% decrease in sales compared to Q2 of 2017.
Big Bang’s hiatus is a major factor behind the loss. However, WINNER, iKON, and Black Pink’s active promotions in Japan are expected to help fill in their absence.
Meanwhile, JYP Entertainment also had a successful second quarter in 2018 along with SM Entertainment by seeing an over 30% increase in operating profit.