SM Entertainment and YG Entertainment revealed their Fiscal Year 2012 Earning Results.
The two companies released their total sales, revenue, and net profit for 2012
. These results are tentative
as an independent auditor needs to audit the earnings report for the stock holders, however, no big changes from the initial results are expected.
SM Entertainment, maintains their claim as the biggest label in the entertainment industry. They reported revenue of 168,560,155,987 KRW (approximately $154 million USD), which is a 53.5% increase from 2011. Deducting the wages of the workers and production costs from the revenue brings in 47,821,232,494 KRW (approximately $44 million USD), which is a 133.2% increase from 2011.
The net profit (after calculating all expenses) has also increased 125.4% since 2011 to reach 37,177,156,185 KRW (approximately $34 million USD).
YG Entertainment had a total revenue of 99,724,863,668 KRW (approximately $91 million USD), a 59.4% increase from last year. Deducting the wages of workers and production costs brings in 18,544,672,845 KRW (approximately $17 million USD), a 20.3% increase from 2011.
The net profit increased 45.4% from 2011 to reach 17,113,443,533 KRW (approximately $15.6 million USD).
JYP Entertainment has yet to release their results for 2012.
Source: Star News