YG Plus Reports 5.2 Billion KRW Operating Profit in 3Q... Highest Quarterly Earnings Ever

Q3 Sales 59.7 Billion KRW, Operating Profit 5.2 Billion KRW
Cumulative Operating Profit up to Q3 22.8 Billion KRW
Achieved 220.1% of Last Year's Annual Profit

YG PLUS, a company specializing in entertainment infrastructure and IP business, announced on the 13th that it achieved consolidated sales of 59.7 billion KRW and an operating profit of 5.2 billion KRW for the third quarter of this year. Compared to the same period last year, sales increased by 63.5%, and operating profit grew by 113.5%. This marks the highest quarterly performance in the company's history.

The cumulative consolidated sales from the first to the third quarter amounted to 173.7 billion KRW, with an operating profit of 22.8 billion KRW. The operating profit margin stood at 13.1%. These figures represent an 80.9% increase in sales and a 149.5% increase in operating profit compared to the same period last year. The cumulative third-quarter results alone accounted for 123.8% of last year's total sales and 220.1% of operating profit.

Regarding this, the company explained, “▲ Strong album sales performance by artists under YG and HYBE ▲ Increased license revenue from IPs of artists under YG ▲ Continued growth of subsidiary Forest Factory ▲ New entry into external popular IP-linked businesses contributed to the strong performance.”

Meanwhile, YG PLUS secured the number one position in the industry with a 41.5% market share in album distribution in the first half of this year (based on Circle Chart). The active promotions of artists under YG and HYBE continue into the second half, and the mega rookie Baby Monster is on the verge of debuting.