JYP Entertainment 1st Quarter 2018 Earnings Report; To Debut New Girl Group With Jeon Somi and Chinese Boy Group
Officials have stated that JYP Entertainment has done well in the First Quarter of 2018 and expected to grow further in the 2nd Quarter of the year.
JYP Entertainment has made a revenue of 23 Billion Won (21,331,000 USD)
Han Kyung Rae, a researcher at Shinhan Financial Investment Research Institute has said that in the first quarter, revenue has increased by 5% Year over Year (YoY) and the operating profit fell by 64.1% to 1.4 Billion Won (1,291,300 USD) but has met the consensus, an expected to be favourable in the future.
JYP Entertainment is expected to increases as TWICE’s sales have increased for the next two years. As 2018 started with Stray Kids debut in March, JYP Entertainment seeks to debut a new Chinese idol boy group and to debut a new girl group that includes former I.O.I member, Jeon Somi who won Produce 101 Season 1 and suspected that Shin Ryujin who was one of the most popular contestants on the survival show made by YG Entertainment ‘MIXNINE’ and Lee Chaeyeon, who was on the first season of JYP Entertainment ‘SIXTEEN’ as they were seen together, to debut in the second half of 2018.
Current contracts of most JYP artists are going to expire around 2021 and 2022.