[Official] SM, Q3 revenue 291.1 billion won - operating profit 35.5 billion won.. NCT WISH to Taeyeon comeback

*This content was translated by AI.View Original

SM Entertainment (hereinafter SM) recorded an operating profit of 35.5 billion won in the third quarter.

On the 4th, SM announced that it achieved management results for the third quarter of this year on a consolidated basis, with revenue of 291.1 billion won and an operating profit of 35.5 billion won.

SM disclosed on the same day that revenue decreased by 9.5% and operating profit decreased by 26.4% compared to the same period last year, while net income for the current period turned into a deficit due to factors such as foreign currency losses resulting from the strengthening of the won.

SM explained that it strategically conducted various overseas performances to strengthen its global fandom and small-scale performances for fan communication, which led to a decrease in domestic new album activities. As a result, revenue from records, music streaming, and concerts, as well as the operating profit of some major subsidiaries, decreased.

Revenue on a standalone basis for the third quarter was 173.4 billion won, a 22.8% decrease compared to the same period last year. During this period, operating profit and net income for the current period were 28.4 billion won and 11.1 billion won, respectively, representing decreases of 29.2% and 65.7% compared to the same period last year.

Looking at revenue by business segment, the performance and MD (planned products)/licensing division recorded 29.2 billion won and 62.1 billion won, respectively, an increase of 21.3% and 23.5% compared to the same period last year, due to factors such as increased artist advertising and event activities, strong sales of planned and performance MD, and IP collaboration effects.

The results of major subsidiaries showed that DEARU's operating profit for the third quarter of this year increased by 5.6% year-on-year to 9.2 billion won due to an increase in subscribers and improved server operation efficiency. DREAM MAKER also successfully turned a profit due to expanded collaboration with the headquarters. Keyeast also turned a profit due to increased revenue from new dramas. However, SM C&C saw its deficit widen due to increased costs related to music content production, and SM Life Design Group (LDG)'s operating profit decreased year-on-year due to reduced album printing revenue.

SM plans to continue active activities in the domestic and international music markets in the fourth quarter of this year as well. NCT WISH's mini album, Yeseong's regular album, Chae Young-min and Xiao Jun (XIAOJUN)'s mini album, RIIZE's single, and Red Velvet Irene & Seulgi's Japanese mini album have been released. NCT DREAM's regular album, Taeyeon's regular album, EXO unit (Kai, Sehun)'s mini album, and U-Know Yunho's Japanese single are scheduled to be released.

Additionally, in the first quarter of next year, RIIZE's regular album, Hearts2Hearts' mini album, Seulgi and Jaehyun's regular albums, Super Junior-83z (SUPER JUNIOR-83z)'s single, NCT JNJM (NCT JNJM)'s Japanese single, and Chenle (CHENLE)'s Chinese single are scheduled to be released.

SM will also hold concerts in various global regions in the fourth quarter of this year and the first quarter of next year. aespa successfully completed its tour in the Americas region. NCT 127's fifth tour, EXO's encore concert, WayV (WayV)'s performances in major Chinese cities such as Beijing and Shanghai, Chae Young-min and Minho's solo concert tours, Yeseong's 10th anniversary solo debut tour, U-Know Yunho, Chan Yeol, and Red Velvet Irene & Seulgi's Japanese performances, and Super Junior-83z's fan concert tour are scheduled to be held.

In particular, NCT WISH's concert, which achieved a sellout at their first appearance at Gocheok Dome after debut, and aespa's European tour, to be held in nine European cities including London, Paris, and Stockholm, will also take place.

In this way, SM plans to continue its growth trend by releasing new albums from major artists and conducting activities in global regions starting early next year, while actively promoting the expansion of legacy artists' activities, the growth of junior artists, and entry into new markets, aiming to build a balanced IP portfolio.

<© STARNEWS. All rights reserved. No reproduction or redistribution allowed.>

*This content was translated by AI.View Original