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YG PLUS, operating profit ↑316% to 25.6 billion won… “The highest figure ever”

Let’s take a look at YG PLUS’ performance in 2021 and its development plan this year.

YG PLUS (7.180 won, ▲90 1.3%) announced on Feb 23rd that its consolidated sales in 2021 reached 154.3 billion won, up 44% from the previous year. Operating profit increased by 316% in the same period to 25.6 billion won, and net profit turned into profit-making to 22.6 billion won.

A company official said, “Despite the aftermath of COVID-19 last year, the growth of our major business was remarkable thanks to strong album sales, increased sales of physical albums, digital music distribution and MD following cooperation with HYBE, as well as increased sales of external IP (intellectual property). In addition, our subsidiary YG Investment successfully invested in metaverse and new technologies, recording the highest figure ever.”

YG PLUS profit

YG PLUS is also expected to achieve good performance this year. This is because major artists such as BLACKPINK and BIGBANG are scheduled to make a comeback, starting with boy group TREASURE‘s return on Feb 15th. Besides, offline concerts are expected to resume in earnest, starting with TREASURE’s first concert since their debut next April.

YG PLUS profit

CEO Choi Sung-jun said, “This year, we plan to further strengthen and expand cooperation with strategic partners such as Naver and HYBE, and continue to expand our external IP business. We will actively review various new businesses in the entertainment sector such as NFT (non-fungible token) and metaverse to create sustainable growth momentum.”

Source
NewsMT
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