The numbers are astonishing.
Koreaboo
JYP entertainment has released financial results for the third quarter of 2024, showing notable growth that has sparked much debate online.
The company reported revenue of ₩171 billion KRW (approximately $121 million USD), marking an impressive 22.1% increase from the previous year. Net profit also rose to KRW 38.8 billion (about $27.6 million), up 11.7%, cementing this quarter as one of the most important periods in their financial history.
JYP’s record-breaking performance was supported by the successful comeback and activities of key artists. Stray Children, NMIXX, TWICE‘S TzuyuAND DAY6 all contributed to a significant increase in album sales, totaling KRW 54.5 billion. DAY6 played a major role in boosting digital sales, leading to a record ₩3.10 billion KRW (about $2.20 million) in quarterly home streaming and download revenue.
Concerts and fan meetings were another important factor, bringing in KRW 22.1 billion (about $15.7 million), thanks to popular events such as the Stray Kids world tour and DAY6 and ITZYhis performances. The merchandise section also recorded an all-time high, generating ₩50.2 billion KRW (approximately $35.7 million USD), with Japan’s MD sales accounting for nearly half at ₩24.5 billion KRW (approximately $17.4 million).
Revenue from advertising and public appearances also increased, influenced by the growing popularity and brand power of JYP artists. Advertising revenues alone reached ₩8.40 billion KRW (approximately $5.97 million USD), while artist appearances brought in ₩5.40 billion KRW (approximately $3.84 million USD). Despite the significant decrease in “other revenues” due to changes in accounting methods, the company’s overall profitability remained solid.
Netizens were deeply impressed by JYP’s performance, with many praising the company and all its artists for their hard work.
- “They are the textbook example of how to focus on what matters in the entertainment industry and make a profit without any nonsense.”
- “Stray Kids, TWICE and DAY6 all appear to be solid money makers.”
- “The net profit is incredible.”
- “They are making much more net profit than HYBE.”
- “People used to criticize them for not promoting their high net profit, but now it’s clear that it’s because they focus on the artists and don’t waste time on useless things. They are truly top notch.”
- “Stray children!! DAY6!!! They have the national and international markets blocked!!! Let Tteokbokki suffer.”
- “I spent so much money on Stray Kids…”
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