SM Entertainment has unveiled their sales and profit in the third quarter of the year, and the company saw great results in both aspects.
SM Entertainment Unveils Sales and Profit in the Third Quarter for 2021
On Nov. 15, the entertainment company announced how much they gained in their sales and profit from July to September this year.
According to SM Entertainment, their sales in the third quarter reached a whopping 154.4 billion won, showing a 34.2% increase from the same period of last year.
When it comes to the operating profit and net profit, the agency recorded 14.1 billion won and 15.5 billion won respectively.
ALSO READ: SM Entertainment Gains the Highest Album Sales among the 'Big 4' Companies in the 2nd Quarter of 2021
In the third quarter of this year, a few SM artists released new albums such as aespa, NCT 127 and SHINee Key.
While aespa dropped their debut EP "Savage," NCT 127 launched their third studio album "Sticker" and its repackaged version "Favorite." Meanwhile, SHINee Key released his first EP, "Bad Love," as a solo artist.
These EPs and albums all achieved success at the time they were released. aespa's "Savage" has become a half-million-selling album while NCT 127's "Sticker" and "Favorite" became a double-million-selling album and a million-selling album respectively.
As for SHINee Key, "Bad Love" recorded his highest first-week sales on the Hanteo Chart since his solo debut. It sold more than 65,000 copies, nearly doubling the first-week sales of his previous work "Face."
Expectations for SM Entertainment's Performance in the Fourth Quarter of 2021 Based on NCT and aespa's Activities
On another note, SM Entertainment is predicted to see good results in the fourth quarter of the year as well due to the activities of its major artists such as aespa and NCT, plus the resumption of offline concerts.
READ MORE: aespa's 'Savage' Becomes the Best-Selling Debut Album by a Girl Group in Gaon History
Lee Hyun Ji, a researcher at Eugene Investment & Securities, said, "aespa is showing rapid growth by becoming a half-million seller in 11 months of their debut, and NCT is gearing up for their 2021 project following the repackaged album of NCT 127."
The researcher added, "It is expected that at least four million copies will be sold by the fourth quarter with the albums of the two artists (aespa and NCT) alone."
Lee Hyun Ji further stated that apart from album sales, NCT's domestic concerts will also play a big role in SM Entertainment's sales and profit in the fourth quarter of the year. He predicted that these concerts will "record the highest performance ever."
YOU MIGHT ALSO LIKE: NCT 127 to Kick Off Second World Tour 'NEO CITY: SEOUL - THE LINK' in December
Previously, it was announced that NCT 127 is gearing up for their second world tour, "NCT 127 2ndTour 'Neo City: Seoul - The Link'," which will be held for three nights from Dec. 17 to 19 in Seoul.
Lee Ki Hoon, a researcher at Hana Financial Investment & Securities, predicted that monetization could be seen through the growth of the new girl group aespa.
The researcher asserted, "Considering that aespa's first album sold over 500,000 copies in a short period, it is possible to sell one million copies within two years, so a tour within two years is also possible."
He concluded, "aespa's album has a great growth potential in that it has a story that will be the focal point of the fandom in the metaverse era as it is structured around a worldview similar to BTS."
For more news updates about other K-Pop news, always keep your tabs open here at Kpopstarz.
Owned by Kpopstarz.
Written by Mhaliya Scott
