▲ These photos, show HYBE’s BTS (L) and SM’s NCT (R). (PHOTO NOT FOR SALE) (Yonhap)

▲ This photo, provided by SM Entertainment, show the entertainment company. (PHOTO NOT FOR SALE) (Yonhap)

 

 

SEOUL, Feb. 25 (Yonhap) -- Despite the COVID-19 global health crisis, major music companies such as HYBE, SM, and YG recorded their highest performance last year since their establishment.

HYBE's annual sales rose 58.0% year-on-year to 1.2577 trillion won last year due to strong sales of BTS albums and the Los Angeles concert, according to an electronic discloser system, Friday.

The operating income rose 30.8 percent to 190.3 billion won.

This is the first time for HYBE to exceed 1 trillion won in annual sales and the first among all music agencies.

SM Entertainment, which consists of popular K-pop groups such as NCT and aespa, also reached its best performance with sales of more than 700 billion won last year.

SM’s annual sales rose 21.0% to 71.5 billion won last year, and the operating income rose as much as 954.1%, to 68.5 billion won. The net profit for the term was 123.4 billion won, turning into a surplus from -80.3 billion won a year earlier.

The agency explained, "The performance has improved due to strong album sales," adding, "Along with improved performance in the main business, major subsidiaries' losses have been reduced, resulting in a turnaround in performance.”

SM sold 17,621,000 albums last year, about twice as many as the previous year. In addition to 15,043,000 new albums, sales of the past albums reached 2,578,000.

In 2021, NCT 127 sold 3.62 million copies of albums including the "Sticker" and the repackage album "Favorite," and NCT DREAM sold 3.31 million copies of its first regular album "Taste" and "Hello Future."

In addition, SM decided at the board meeting to pay 200 won per share for the first time since its foundation.

The company said, "As a leading company in the entertainment industry, we decided to pay this dividend to become a more shareholder-friendly company," adding, "We will continue to carry out activities to enhance shareholder value with K-pop fans."

YG Entertainment, which includes Big Bang and BLACKPINK, also saw its sales rise 39.3% and 370.4% last year to 355.6 billion won and operating profit rise to 50.6 billion won, respectively. This is also the best performance since its foundation.

YG analyzed, "The operating profit has grown accordingly due to solid sales growth of existing and new businesses," adding, "The activities of artists have increased and the profits and losses of major subsidiaries have improved."

The agency achieved great success with BLACKPINK Rosé or Lisa, as the two members made their solo debut last year.

According to the music industry, fans are open to purchasing albums since performances are difficult to hold due to the COVID-19 situation.

The Korean Wave around the world, led by BTS, NCT, and BLACKPINK, also played a positive role.

The K-pop album sales in 2021 reached 57.09 million copies based on the Gaon chart’s No. 1 to No.400 rankings, up 36.9% from the previous year. The exports of K-pop albums also rose 62.1% to $22836,000 (about 264.1 billion won).

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