‘Big 4’ Emerges: HYBE Corporation, YG, JYP, and SM Entertainment Tops K-Pop Industry
On the 30th of March, Korea JoongAng Daily (the English-language version of the South Korean national daily newspaper, JoongAng Ilbo) has recently revealed the profits of K-pop companies last 2020.
Standing out among the rest are four immensely popular K-pop entertainment companies.
Due to the recent report, it seems as though the Big 3 in K-pop, known as the K-pop companies who are most popular and have the highest profits, might have to make way for another company to enter their ranks.
Here are the top K-pop companies in terms of profit:
2020 was a "big" year for the company that handles BTS, Big Hit. It was revealed that their sales increased by 35.6% in 2020. This was compared to their profits in 2019. Back in 2019, Big Hit's sales were 587.22 billion won which is around $517.82 million, and in 2020, it increased to 796.28 billion won, which is around $706.75 million.
Essentially, Big Hit's total profits have risen by 47%, 145.51 billion won ($129.15 million) in 2020 compared to 2019's 98.74 billion won ($87.63 million).
BLACKPINK's company, YG Entertainment, also had a very successful 2020 as well. The company was able to gain a total of 255.26 billion won ($226.56 million) in 2020. In 2019, they had a total of 253.507 billion won ($225 million). Due to this, YG's entire profits have increased from 5.35 billion won ($4.74 million) to 10.74 billion won ($9.53).
JYP Entertainment, the K-pop entertainment company that handles TWICE, ITZY, Stray Kids, 2PM, Day6, and more, unfortunately, had a decrease in sales in 2020. In 2019, they had sales amounting to 155.43 billion won ($137.92 million), but in 2020, they decreased to 144.39 billion won ($128.12 million) in total sales.
Regardless of this, JYP's total profits had a small increase. From 43.45 billion won ($38.55 million) to 44.13 billion won ($39.15) which can be pointed toward their K-pop groups' album sales and payments in royalty.
On the other end, SM Entertainment has seen a decrease in both sales and profits. In 2020, SM's sales decreased by 11.8% compared to 2019. In 2019, SM had 657.82 billion won ($583 million) to 579.87 billion won ($514.55 million). In terms of SM's profits, it went down by 83.9%. In 2019, it was 40.39 billion won ($35.84 million), but in 2020, they only had 6.49 billion won ($5.75 million) 2020. SM is expected to bounce back in 2021 if Red Velvet returns.