YG Entertainment Reports 288 Billion KRW Operating Profit in Q2, a 209% Increase YoY

YG Entertainment achieved triple-digit growth in both revenue and operating profit for the second quarter.

On the 11th, YG Entertainment announced that its consolidated revenue for the second quarter of this year had increased by 108.2% compared to the same period last year, reaching 158.3 billion KRW. The operating profit for the same period increased by 209.3%, totaling 28.9 billion KRW.

Contributions to YG Entertainment's Q2 performance came from the solo album sales of BLACKPINK's Jisoo and the world tour concert revenue of BLACKPINK and TREASURE. YG Plus, a subsidiary of YG, also recorded its highest-ever Q2 performance, contributing to YG Entertainment's triple-digit growth. The net profit attributable to YG Entertainment's controlling shareholders in Q2 increased by 269.1% compared to the same period last year, reaching 21.7 billion KRW.

The third-quarter performance of YG Entertainment is expected to reflect the results of TREASURE's second full-length album released in July and the debut of the girl group BABY MONSTER in September. BABY MONSTER is YG's first multinational girl group in 7 years since BLACKPINK. The group has garnered market attention, surpassing 3 million subscribers on its official YouTube channel as of July."

source: it.chosun