Cube Entertainment has achieved record-breaking 3rd quarter results with (G)I-DLE’s triple hit success
According to the data released on November 9th, the standalone Cube Entertainment’s basis revenue for the 3rd quarter was 22 billion won, recording an operating profit of 3 billion won. Compared to the same period last year, revenue increased by 90%, and operating profit turned into a profit.
With this, the cumulative standalone basis revenue for the 3rd quarter reached 65 billion won, surpassing the annual cumulative revenue on a standalone basis from last year, and the cumulative operating profit recorded 10.1 billion won, surpassing 100 billion won in operating profit for the first time since the establishment of the company.
Including subsidiary companies, the consolidated basis revenue for the 3rd quarter was 39.1 billion won, and operating profit was 3.4 billion won, increasing by 50% and 430% respectively compared to the same period last year. In particular, the cumulative consolidated basis revenue reached 105.8 billion won, achieving a cumulative revenue of 100 billion won in just the 3rd quarter. The cumulative consolidated basis operating profit for the 3rd quarter was recorded at 99.8 billion won.
(G)I-DLE has succeeded in three consecutive hits following the success of ‘Tomboy’ and ‘Nxde’ last year, and the comeback in the first half of this year with ‘Queencard,’ achieving the highest cumulative revenue in the entertainment sector in the 3rd quarter, including album sales, music streaming, and advertising, compared to the same period last year.
A Cube official explained, “With (G)I-DLE’s three consecutive hits and million-seller status, the IP value has risen, and as the global fandom gradually expands, advertising revenue has increased by 170% compared to the same period last year, including numerous advertising contracts, including becoming ambassadors for luxury brands overseas.”
Continuing, the official added, “(G)I-DLE, through their recent second world tour, drew over 130,000 attendees, more than 2.5 times the increase compared to last year, and related MD sales also increased. The settlement of Chinese activities centered around (G)I-DLE’s Chinese member Yuqi in the 3rd quarter contributed to the growth in revenue and operating profit.”
He further stated, “The results of (G)I-DLE’s world tour, which ended in late October, will be reflected in the 4th quarter, and expectations are high for the related 4th quarter results.”
Meanwhile, Cube officially announced on November 6th that the company is parting ways with BTOB members Seo Eunkwang, Lee Minhyuk, Lee Changsub, Im Hyunsik, Peniel, and Yook Sungjae.
Cube stated, “Ahead of the expiration of BTOB’s second exclusive contract, we have carefully discussed with the members for a long time, and as a result of mutual agreement, we have decided not to renew the contract.”
Source: wikitree
