JYP: 51% growth in profit Q3 + Business Post: JYP Stray Kids made a high performance
💹 STOCK NEWS | 221114
— JYP News (@thejypnews) November 14, 2022
JYP Entertainment announced on the 14th that its consolidated operating profit in the third quarter was ₩27.56 billion, up 51% from the third quarter of last year.
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GG translate (some parts may be not correct)
[Today Who] JYP Stray Kids made a high performance, flew with Park Jin-young's dream
enlargement reduction
[Business Post] It is expected that JYP Entertainment (JYP)'s earnings this year will go high. JYP's creative director Park Jin-young (CCO), Jinyoung Park's '20-year dream' of entering the US is realized through his affiliated singers, such as Stray Kids, and it is analyzed that the group is leading the company's rapid growth.
![[Today Who] JYP Stray Kids made a high performance, flew with Park Jin-young's dream](https://www.businesspost.co.kr/news/photo/202211/M_20221114171041_19595.jpg)
According to the securities industry and entertainment industry on the 14th, JYP is expected to continue its good performance in the third quarter into the fourth quarter and exceed 300 billion won in annual sales for the first time since its establishment this year. JYP announced on the same day that it recorded 95.1 billion won in sales, 27.5 billion won in operating profit, and 22.5 billion won in net profit in the third quarter of 2022 on a consolidated basis. Compared to the third quarter of last year, sales increased by 66.1%, operating profit by 50.9%, and net profit by 35.8%, respectively. Compared to the previous two quarters, sales increased by 40.4%, operating profit by 13.3%, and net profit by 48.3%, respectively. As a result, JYP posted 230 billion won in cumulative sales until the third quarter of this year, setting a new annual unit record. Last year, JYP posted 193.9 billion won in sales, setting an all-time high. JYP's 4Q earnings, which reflect the performance of the boy group Stray Kids in October, are also expected to increase significantly, and are expected to easily exceed 300 billion won in sales this year.
Stray Kids ranked first on the Billboard album chart for the second time with their 7th mini-album 'MAXIDENT', released in October. In addition, the album pre-orders alone reached 2.37 million copies. Reflecting this point, FN Guide, a financial information company, predicted that JYP would generate 316.9 billion won in sales, 97.5 billion won in operating profit, and 72.1 billion won in net profit on a consolidated basis this year. In the entertainment industry, many people view JYP's high performance as the result of CCO Park's constant attempt to enter the US market for 20 years. CCO Park first moved to the United States in 2003 as a composer and producer. And in 2004, the American singer May's album, which included 'The Love You Need', which he composed himself, achieved a splendid feat, reaching number 4 on the Billboard 200 chart. Since the mid-2000s, CCO Park has been working hard for JYP singers to enter the United States, but at the beginning did not receive much attention. The first JYP singer to stand out in the United States was in 2009 when Wonder Girls became the first Korean singer to enter the Billboard Singles Chart Hot 100 at number 76 with 'Nobody'. At that time, CCO Park took the lead in promoting Wonder Girls by distributing flyers locally. In the 2010s, JYP's entry into the US suffered a period of stagnation for a while, but it started to come alive again three years ago.
In 2019, the US tour of the company's signature groups, TWICE and GOT7, received a great response, followed by rookies at the time, Stray Kids and ITZY. Itzy first entered the Billboard 200 with the 4th mini-album 'GUESS WHO' in May 2021, and in October of last year, the 1st full-length album 'CRAZY IN LOVE' ranked 11th on the Billboard 200 chart. Girl group Twice also achieved the achievement of entering the 3rd place on the Billboard 200 chart with the 3rd full album 'Formula of Love: O+T=<3', released in November last year. . CCO Park did not stop there, but accelerated preparations to enter the US market earlier this year. In February, we decided to strengthen strategic collaboration with Republic Records, a record label under Universal Music Group, for the global success of our group Twice, Stray Kids, and Itzy. In March, JYPUSA, a local subsidiary in North America, was also established, heralding the full-fledged expansion of the global market. At the time, JYP stated, "In North America and global markets where the base of K-Pop is continuously expanding, JYPUSA was established to establish a North American base for its artists and businesses as well as to attempt a new strategic evolution." And this came back as a result of a large number of singers entering the Billboard charts.
Stray Kids became the first JYP artist to top the Billboard 200 chart in April this year with their 6th mini-album 'ODDINARY', and again in October with their 7th mini-album 'Maxident'. Among Korean singers, only BTS (6 times) and Stray Kids (2 times) have had two or more albums topped the Billboard 200 chart. Itzy with their 5th mini album 'CHECKMATE' in July this year, and TWICE with their 11th mini album 'Between One and Two' in August this year, ranked 8th and 3rd on the Billboard 200 chart, respectively. Kim Ha-jeong, a researcher at Daol Investment & Securities, said, "In particular, the pre-orders for Stray Kids' 'Maxident' album have been generously proving the success of their fandom growth. “He said. Reporter Min-gyu Lim
▲ Park Jin-young, Chief Creative Officer (CCO) of JYP Entertainment, is leading the company's rapid growth with Straight Kids.
According to the securities industry and entertainment industry on the 14th, JYP is expected to continue its good performance in the third quarter into the fourth quarter and exceed 300 billion won in annual sales for the first time since its establishment this year. JYP announced on the same day that it recorded 95.1 billion won in sales, 27.5 billion won in operating profit, and 22.5 billion won in net profit in the third quarter of 2022 on a consolidated basis. Compared to the third quarter of last year, sales increased by 66.1%, operating profit by 50.9%, and net profit by 35.8%, respectively. Compared to the previous two quarters, sales increased by 40.4%, operating profit by 13.3%, and net profit by 48.3%, respectively. As a result, JYP posted 230 billion won in cumulative sales until the third quarter of this year, setting a new annual unit record. Last year, JYP posted 193.9 billion won in sales, setting an all-time high. JYP's 4Q earnings, which reflect the performance of the boy group Stray Kids in October, are also expected to increase significantly, and are expected to easily exceed 300 billion won in sales this year.
Stray Kids ranked first on the Billboard album chart for the second time with their 7th mini-album 'MAXIDENT', released in October. In addition, the album pre-orders alone reached 2.37 million copies. Reflecting this point, FN Guide, a financial information company, predicted that JYP would generate 316.9 billion won in sales, 97.5 billion won in operating profit, and 72.1 billion won in net profit on a consolidated basis this year. In the entertainment industry, many people view JYP's high performance as the result of CCO Park's constant attempt to enter the US market for 20 years. CCO Park first moved to the United States in 2003 as a composer and producer. And in 2004, the American singer May's album, which included 'The Love You Need', which he composed himself, achieved a splendid feat, reaching number 4 on the Billboard 200 chart. Since the mid-2000s, CCO Park has been working hard for JYP singers to enter the United States, but at the beginning did not receive much attention. The first JYP singer to stand out in the United States was in 2009 when Wonder Girls became the first Korean singer to enter the Billboard Singles Chart Hot 100 at number 76 with 'Nobody'. At that time, CCO Park took the lead in promoting Wonder Girls by distributing flyers locally. In the 2010s, JYP's entry into the US suffered a period of stagnation for a while, but it started to come alive again three years ago.
In 2019, the US tour of the company's signature groups, TWICE and GOT7, received a great response, followed by rookies at the time, Stray Kids and ITZY. Itzy first entered the Billboard 200 with the 4th mini-album 'GUESS WHO' in May 2021, and in October of last year, the 1st full-length album 'CRAZY IN LOVE' ranked 11th on the Billboard 200 chart. Girl group Twice also achieved the achievement of entering the 3rd place on the Billboard 200 chart with the 3rd full album 'Formula of Love: O+T=<3', released in November last year. . CCO Park did not stop there, but accelerated preparations to enter the US market earlier this year. In February, we decided to strengthen strategic collaboration with Republic Records, a record label under Universal Music Group, for the global success of our group Twice, Stray Kids, and Itzy. In March, JYPUSA, a local subsidiary in North America, was also established, heralding the full-fledged expansion of the global market. At the time, JYP stated, "In North America and global markets where the base of K-Pop is continuously expanding, JYPUSA was established to establish a North American base for its artists and businesses as well as to attempt a new strategic evolution." And this came back as a result of a large number of singers entering the Billboard charts.
Stray Kids became the first JYP artist to top the Billboard 200 chart in April this year with their 6th mini-album 'ODDINARY', and again in October with their 7th mini-album 'Maxident'. Among Korean singers, only BTS (6 times) and Stray Kids (2 times) have had two or more albums topped the Billboard 200 chart. Itzy with their 5th mini album 'CHECKMATE' in July this year, and TWICE with their 11th mini album 'Between One and Two' in August this year, ranked 8th and 3rd on the Billboard 200 chart, respectively. Kim Ha-jeong, a researcher at Daol Investment & Securities, said, "In particular, the pre-orders for Stray Kids' 'Maxident' album have been generously proving the success of their fandom growth. “He said. Reporter Min-gyu Lim
