Three Major Entertainment Companies in Korea
Total sales of the big three entertainment companies in Korea, SM, YG and JYP Entertainment, have spiked over the past three years, especially in overseas markets.
Korea's Financial Supervisory Service said Tuesday that the three companies' total revenue was some 95 million U.S. dollars in 2009, but in just two years, the figure jumped more than 70 percent,.. to 167 million U.S. dollars in 2011.
Overseas sales boomed over this period, thanks to the widening global popularity of K-pop artists and their songs.
In 2009, overseas sales accounted for just 20 percent of the companies total revenues, but in 2011, over 40 percent of the total sales came from international markets.
Overseas sales have increased by nearly 4-fold in just two years.
The companies' success has been reflected in their stock prices, too.
For example, SM Entertainment, which manages big K-pop stars like Super Junior, SHINee, and Girls Generation, went public in 2009, and its stock traded slightly above one U.S. dollar on its first day of trading.
Now, SM shares are trading at over 42 dollars!
Industry watchers say the future for Korea's major entertainment companies looks even more promising in the coming years, as demand for Korean dramas and music is on the rise, with the Korean Wave spreading beyond Asia, to some European and American countries.
Park Ji-won, Arirang News.
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