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JYP Leisure hit a house run within the first quarter due to a surge in gross sales and improved earnings.
In line with the quarterly report submitted by JYP Leisure on Could 15, JYP’s consolidated gross sales within the first quarter recorded KRW 1180.47 billion, up 74.1% from the identical interval final yr. It has already exceeded the excessive market expectation of 97.6 billion received.
Earnings improved greater than gross sales. Working revenue elevated by 119.3% to KRW 420.3 billion, and internet revenue elevated by 155.1% to KRW 42.73 billion.
Working revenue was 27.1 billion received and internet revenue was 20.9 billion received, far beneath market expectations.
Within the first quarter of final yr, gross sales elevated in all sectors besides look charge earnings. Specifically, file and music gross sales and portrait rights income led to top-line progress and revenue enchancment.
JYP mentioned that as the worldwide consciousness of main artists comparable to Twice grew explosively within the first quarter, particularly in North America, gross sales associated to content material comparable to albums, MDs, and IP licenses elevated.
It’s defined that profitability has additionally improved due to elevated content material gross sales and improved margins at JYP360. When it exceeds a sure stage, earnings exceed the extent of fast progress.
Within the first quarter of final yr, leisure businesses carried out nicely sufficient to lift expectations for reopening. Specifically, YG Leisure’s inventory worth soared because it was evaluated as a shock efficiency.
YG Leisure’s gross sales elevated by 108.6% year-on-year to KRW 157.5 billion. Because of Blackpink’s first quarter efficiency, working revenue elevated from 497.6% to 36.451 billion received.
Hive’s first quarter gross sales elevated by 44.1% year-on-year to KRW 410.6 billion, and its working revenue elevated by 41.5% to KRW 52.5 billion. BTS has nonetheless achieved the perfect efficiency ever, regardless that some members have stopped their actions because of army enlistment.
SM recorded gross sales of 203.9 billion received, up 20.3% from the earlier yr, and working revenue down 5% to 18.262 billion received within the first quarter because of a administration dispute. It fell barely beneath market expectations.
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