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Korean netizens have been actively comparing the third-quarter financial results of the “Big 4” entertainment companies in K-popHYBE,SM Entertainment,JYP Entertainment, andYG Entertainmentfollowing the recent release of their respective Q3 2024 financial reports.HYBE reported revenue of 527.8 billion KRW (~375.3 million USD) in Q3 2024, marking a 1.9% decrease compared to the same period last year.
The operating profit stood at 54.2 billion KRW (~38.5 million USD), reflecting a 25.4% decline year-on-year.
Notably, net profit experienced a significant drop of 98.6%, amounting to 1.4 billion KRW (~995,382 USD).
On the other hand, SM Entertainment reported 242.2 billion KRW (~172.2 million USD) in revenue, with 13.3 billion KRW (~9.5 million USD) operating profit and a net profit of 16.0 billion KRW (~11.4 million USD).
JYP Entertainment reported 170.5 billion KRW (~121.2 million USD) in revenue, 48.4 billion KRW (~34.4 million USD) operating profit, and a 38.8 billion KRW (~27.6 million USD) net profit - resulting in the most net profit among the 4 entertainment companies.
YG Entertainment reported revenue of 83.5 billion KRW (~59.4 million USD), with a -3.6 billion KRW (-2.6 million USD) operating profit, and a net profit of -900 million KRW (-639,884 USD).
Korean netizens observed that HYBEs earnings fell short of expectations, especially given its reputation as South Koreas largest entertainment conglomerate.
Additionally, many noted YG Entertainments disappointing financial earnings, suggesting that the agency may be struggling to uphold its status as one of the ‘Big 4’ entertainment companies.Korean netizenscommented:
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