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BTS' agency Big Hit Entertainment's operating profit for 3rd quarter of 2020 sees HUGE jump to 40 billion won
BTS' management Big Hit Entertainment recently announced their operating profit for the third quarter of the year which increased to 40.1 billion won (USD 36.2 million apprx). Read below for more details.
BTS' management Big Hit Entertainment is making bank in a big way! According to Kyunghyang Shinmun via Soompi, Big Hit recently announced that their increased operating profit for the third quarter of 2020 was an impressive 40.1 billion won (USD 36.2 million) which showcases a significant 73% jump from the same period in 2019. This is the company's first performance report post their monumental debut on the Korea Composite Stock Price Index (KOSPI).
Moreover, there was also a revenue increase of 54% to 190 billion won (USD 171.4 million apprx) while net profit increased by 92% to 27.2 billion won (USD 24.5 million apprx). In comparison to the second quarter of 2020, the revenue, operating profit and net profit increased by 22%, 38% and 51% respectively. Taking into consideration until the third quarter of the year, the accumulated operating profit is said to be 89.9 billion won (USD 81 million apprx) while accumulated revenue and net profit recorded to be 484 billion won (USD 436.3 million) and 60.4 billion won (USD 54.4 million) respectively. The increase rate from the same period in 2019 for these numbers are 20%, 9% and 13% respectively.
"Album sales were steady and official merchandise sales rose steadily. Third quarter numbers were strong also due to the acquisition of Pledis Entertainment," Big Hit acknowledged in their statement.
Congratulations, Big Hit Entertainment!
Meanwhile, Big Hit Labels recently announced 2021 New Year's Eve Live presented by Weverse which will see the Big Hit Family artists under the same roof for both an online and an offline concert.
