JYP Leisure, the guardian firm of Ok-pop superstars Stray Youngsters and TWICE, introduced its monetary efficiency for the three months ended June 30 (second quarter).
In keeping with monetary knowledge launched by the corporate on Wednesday (August 14), its whole income was 95.7 billion gained ($70 million) in Season 2 album gross sales, streaming, concert events, and extra. JYP’s second-quarter whole income declines A rise of 36.9% in contrast with the identical interval final 12 months.
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 gained (US$10 million) Gross sales within the second quarter have been 74.1 billion gained, in contrast with 74.1 billion gained within the second quarter final 12 months.
JYP’s outcomes present quarter (third quarter, ended September 30) will profit from avenue child‘ America’s first album eat (JYP/Imperial/Republic), launched on July 19. chuck chuck growth That includes high-profile cameos lifeless Pool Starring Hugh Jackman and Ryan Reynolds.
In the meantime, JYP’s live performance income reached 14 billion gained in 2019. Q2 2024down A rise of three% in contrast with the identical interval final 12 months.
The corporate additionally mentioned its artists will carry out 130 concert events in fiscal 2024, in contrast with 141 final 12 months, however the viewers for these concert events will improve to 1.9 million this 12 months, in contrast with 1.4 million in 2023.
JYP attributed its viewers progress forecast for this 12 months’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 reviews a rise in its general streaming income 3% annual improve Gross sales reached 12.79 billion gained ($9.4 million) within the three months to the tip of June.
The corporate additionally divides its streaming income into home and international segments. Within the second quarter, international streaming income (income generated from streaming exterior South Korea) reached 10.76 billion gained ($8 million), a rise from the identical interval final 12 months A rise of 5% in contrast with the identical interval final 12 months.
In the meantime, home streaming income declines 8% annual improvereaching 2 billion gained (US$1.5 million).
A deeper look into JYP’s financials reveals that the corporate’s promoting income has grown 29% annual improve Reached 9.23 billion gained ($6.8 million), whereas income generated by artist “Appearances” grew Annual improve of 194% to KRW 7.9 billion (USD 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 12 months’s second season win.
On the similar time, JYP’s income in China reached 3.9 billion gained (US$2.8 million), a rise from the identical interval final 12 months A rise of 5% in contrast with the identical interval final 12 months.
JYP’s income declines in its dwelling market of South Korea 51% annual improve to 39.1 billion gained ($28.8 million).
In markets exterior South Korea, Japan and China, JYP’s second-quarter income was 29.69 billion gained ($22 million), an annual lower of A rise of 32% in contrast with the identical interval final 12 months.
Elsewhere within the Korean music scene, Ok-pop large HYBE produced 640.5 billion gained ($465 million) throughout all segments within the second quarter. In keeping with the corporate’s newest earnings report launched on Wednesday, August 7, this represents Annual improve of three.1% improve and one 77.5% A soar from the earlier season (Season 1).
In the meantime, South Korea’s SM Leisure is the corporate behind Ok-pop NCT 127, EXO, Rize and Espa report one Annual progress of 5.9% Gross sales surged to 253.9 billion gained within the second quarter ($185.12 million).international music enterprise
