SM, YG and JYP Entertainment, as publicly traded stock companies on Korea’s KOSDAQ, all recently submitted its 2011 audit report to the Financial Supervisory Service, providing the public with a glimpse inside the financial turnings of the three major entertainment agencies.
First, it was revealed that the combined income of the three major agencies for 2011 was a staggering 182 billion won (approximately 160 million U.S. dollars), an all-time record for the agencies.
SM recorded total sales of 109.9 billion won in 2011, making it the first time the company passed the 100 billion mark. The total sales for 2011 marked a 27.2 percent increase, or 23.5 billion won increase from 2010.
However, business profits were down 19.2 percent compared to 2009 as SM revealed its profit was 20.7 billion won for 2011. Net profits declined 32 percent from 2010 to 16.4 billion won for 2011. SM explained that the decline in profit was due to the rise in ratio of sales costs.
JYP Entertainment‘s president Park Jinyoung has praised Yang Hyunsuk of YG Entertainment for Big Bang‘s “Bad Boy”
He showed interest in idol group YG Entertainment’s Big Bang’s “Bad Boy” while talking in SBS‘ “Kpop Star.”
Yang Hyunsuk told Star News that “Park Jinyoung asked me who made “Bad Boy” because he thinks its the best song from the past year. I was happy to hear this from such an influential producer.”
He went on to say “I also personally like “Bad Boy” out of all the Big Bang songs, and I think Park Jinyoung likes this song because he has an interest in Hip Hop and R&B.”
Park Jinyoung’s praise to Big Bang was very heart-warming, considering Big Bang is an idol group from a rival company.
Popular idols Big Bang and 2NE1 are said to take over Japan at the same time.
Both groups will start promotions with new Japanese albums on the 28th. Big Bang with “Alive” and 2NE1 with their first full album, “Collection.”
Big Bang’s “Alive” will have two new songs “Ego,” and “Feeling,” along with the songs from the 5th mini album, for a total of 10 songs.
“Feeling” became the theme song for Japanese animation “Transformer Prime,” and it was made by worldwide artist Boyz Noize, G-Dragon, and TOP.
2NE1’s first Japanese album will have Japanese versions of their hit songs from Korea, plus a bonus track of “Like a Virgin.”