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omonatheydid
SM, YG and JYP Entertainment, as publicly traded stock companies on Korea’s KOSDAQ, all recently submitted its 2011 audit report to the Financial Supervisory Service, providing the public with a glimpse inside the financial turnings of the three major entertainment agencies.
First, it was revealed that the combined income of the three major agencies for 2011 was a staggering 182 billion won (approximately 160 million U.S. dollars), an all-time record for the agencies.
SM recorded total sales of 109.9 billion won in 2011, making it the first time the company passed the 100 billion mark. The total sales for 2011 marked a 27.2 percent increase, or 23.5 billion won increase from 2010.
However, business profits were down 19.2 percent compared to 2009 as SM revealed its profit was 20.7 billion won for 2011. Net profits declined 32 percent from 2010 to 16.4 billion won for 2011. SM explained that the decline in profit was due to the rise in ratio of sales costs.
YG revealed its total sales for 2011 was 62.5 billion won, a 39.7 percent increase from 2010. Its business profit was 15.2 billion won and net profits 11.7 billion won to mark a 36.9 percent and 42 percent increase from 2010 respectively.
YG explained its sales increase were largely due to its artists activities in Japan and other royalties rising.
The case for JYP proves a bit trickier to assess. In 2010, Park Jin Young took over Rain’s former agency, J.Tune Entertainment which later became a separate agency, JYP. Though JYP Entertainment, which houses Park Jin Young, miss A, Rain and others, is a publicly traded company, JYP, which is currently home to the Wonder Girls, 2PM, 2AM and others, is not.
To get an accurate assessment, both companies need to be assessed but only JYP Entertainment, as a public company, disclosed its financial statements. JYP will be required to send in its financial audit report by the middle of April. Additional difficulties stems from the fact JYP Entertainment’s 2011 financial audit changed its financial settlement period from June to December providing only the financial statement for the July 1 to December 31 period.
A look at only JYP Entertainment’s six-month audit shows its total sales was 9.9 billion won, operating loss was 2.4 billion won and net loss during the term was 2.1 billion won.
K-Pop isn′t just for fun anymore - it′s a huge business!
Source: BBupdate
Enewsworld.com
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Date: 2012-03-27 03:18 pm (UTC)Yeah because it wasn't a business before.
I wonder though how much of their earnings are being hidden away so they can escape paying Tax.
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Date: 2012-03-27 03:20 pm (UTC)no subject
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Date: 2012-03-27 06:07 pm (UTC)The company also has an animal named Taec who has a face that only a mother could love
so no thanks
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Date: 2012-03-27 03:31 pm (UTC)OP you should have used a pic of Kim Young-min since he's the CEO of SME
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Date: 2012-03-27 03:58 pm (UTC)no subject
Date: 2012-03-27 04:18 pm (UTC)no subject
Date: 2012-03-27 04:28 pm (UTC)those smtown concerts in paris and new york probably cost a lot. and maybe not enough returns? sme probably spent/are spending a lot of money for exo. and there's barely any returns in that. and ugh, this could only mean more product placement/ads on embedded on their youtube videos.
YG explained its sales increase were largely due to its artists activities in Japan and other royalties rising.
i really want to know how much yge is earning from their foray to japan. cause based on album/single sales, they don't seem to be earning that much. unless the cost for making those translated singles are so low.
Though JYP Entertainment, which houses Park Jin Young, miss A, Rain and others
others as in mblaq? but why does joo have a question mark in the table?
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Date: 2012-03-27 04:33 pm (UTC)(no subject)
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Date: 2012-03-27 04:36 pm (UTC)Anyhow I really hope YG would debut some CN Blue (but with more original music) type of pretty boy band with Korean American and Japanese songwriters in the band who could do well in dramas, CFs, digital&physical sales, and sell well in Korean (+south Asian market), Japanese, and western market. As I feel that Hip Hop influenced artists can only have limited success in Japan.
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Date: 2012-03-27 05:25 pm (UTC)(no subject)
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Date: 2012-03-27 04:49 pm (UTC)OT but speaking of 2009, they're working Tohoshinki to the ground now like they did then D:
How they can cover 3 hour concerts as a duo on an almost daily basis is beyond me
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Date: 2012-03-27 04:57 pm (UTC)MFTE
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Date: 2012-03-27 05:00 pm (UTC)no subject
Date: 2012-03-27 11:27 pm (UTC)This whole JYP + subsidiaries are really confusing, and if you wanted to be REALLY technical you could consider Cube under JYPE.
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Date: 2012-03-27 06:46 pm (UTC)no subject
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Date: 2012-03-28 02:54 am (UTC)The only differences in this 2 years is toho inactivity in Japan. Despite snsd, suju, and shinee sells, they can't cover up the expenses that comes from promotion and album preparation. They actually spent more than they earn with their promotion.
I think SME will be in black again with toho being active in Japan this year.
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Date: 2012-03-28 03:18 am (UTC)no subject
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Date: 2012-03-28 09:58 am (UTC)