JYP Leisure, the dad or mum firm of Okay-pop superstars Stray Youngsters and TWICE, introduced its monetary efficiency for the three months ended June 30 (second quarter).
Based on monetary information launched by the corporate on Wednesday (August 14), its whole income was 95.7 billion received ($70 million) when it comes to album gross sales, streaming concert events, and so forth. within the second season. JYP’s second-quarter whole income declines A rise of 36.9% in contrast with the identical interval final yr.
JYP attributes this season’s income efficiency to a “lack” of releases and concert events by “main artists” reminiscent of flagship stars ITZY,TWICE, and Wandering youngsters.
The corporate’s lack of main artist exercise within the second quarter additionally boosted Annual improve of 82% Bodily album gross sales decline, reaching 13.5 billion received (US$10 million) Gross sales within the second quarter had been 74.1 billion received, in contrast with 74.1 billion received within the second quarter final yr.
JYP’s efficiency this quarter (third quarter, ended September 30) will profit from road child‘ America’s first album eat (JYP/Imperial/Republic), launched on July 19. chuck chuck growth That includes high-profile cameos useless Pool Starring Hugh Jackman and Ryan Reynolds.
In the meantime, JYP’s live performance income reached 14 billion received in 2019. Q2 2024down A rise of three% in contrast with the identical interval final yr.
The corporate additionally mentioned its artists will carry out 130 concert events in fiscal 2024, in contrast with 141 final yr, however the viewers for these concert events will improve to 1.9 million this yr, in contrast with 1.4 million in 2023.
JYP attributed its viewers progress forecast for this yr’s concert events to “a rise within the proportion of large-scale excursions in Japan,” which the corporate added “will contribute to the expansion of live performance revenue margins in fiscal 2024.”
Elsewhere in JYP, the corporate stories a rise in its general streaming income 3% annual improve Gross sales reached 12.79 billion received ($9.4 million) within the three months to the tip of June.
The corporate additionally divides its streaming income into home and world segments. World streaming income (income generated from streaming exterior South Korea) reached 10.76 billion received ($8 million) within the second quarter, an annual improve A rise of 5% in contrast with the identical interval final yr.
In the meantime, home streaming income declines 8% annual improvereaching 2 billion received (US$1.5 million).
A deeper look into JYP’s financials exhibits that the corporate’s promoting income has grown 29% annual improve Reached 9.23 billion received ($6.8 million), whereas income generated by artist “Appearances” grew Annual improve of 194% to 7.9 billion received ($5.8 million).
JYP additionally broke down its monetary outcomes by area, revealing that income generated in Japan within the second quarter amounted to 22.97 billion Korean Received (USD 17 million), down 7% annual improve From 24.7 billion Koreans Final yr’s second season win.
On the identical time, JYP’s income in China reached 3.9 billion received (US$2.8 million), a rise from the identical interval final yr A rise of 5% in contrast with the identical interval final yr.
JYP’s income declines in its house market of South Korea 51% annual improve to 39.1 billion received ($28.8 million).
In markets exterior South Korea, Japan and China, JYP’s second-quarter income was 29.69 billion received ($22 million), an annual lower of A rise of 32% in contrast with the identical interval final yr.
Elsewhere within the Korean music business, Okay-Pop large HYBE is born 640.5 billion received ($465 million) throughout all segments within the second quarter. Based on the corporate’s newest earnings report launched on Wednesday, August 7, this represents Annual improve of three.1% improve and one 77.5% A bounce from the earlier season (Season 1).
In the meantime, South Korea’s SM Leisure is the corporate behind Okay-pop NCT 127, EXO, Rize and Espa reported a Annual progress of 5.9% Gross sales surged to 253.9 billion received within the second quarter ($185.12 million).world music enterprise
