SM Entertainment just achieved an all-time high in their quarterly operating profits and sales. On November 8, SM Entertainment announced its highest quarterly performance.
In the third quarter of this year, SM recorded an operating profit of 50.5 billion won and sales of 266.3 billion won on a consolidated basis.
In comparison to the same period last year, SM Entertainment has seen a remarkable increase of 70% in operating profit and 12% in sales.
These numbers are the highest they’ve ever achieved in a single quarter. Not only that, but their net profit has skyrocketed by a whopping 189%, reaching KRW 84.2 billion compared to KRW 29.2 billion last year.
The third quarter was a total game-changer for SM Entertainment thanks to their artists’ active activities. The increased sales of albums and music sources, like NCT DREAM, aespa, and RIIZE, played a massive role in their success.
No doubt about it, the sales of new albums released in the third quarter were off the charts. They reached a whopping 8.71 million units, which is more than double compared to the same period last year (4.15 million units).
NCT Dream alone achieved a remarkable feat by becoming a quadruple million seller, with their album selling a staggering 4.32 million copies. EXO, NCT, and RIIZE also joined the million sellers club. In addition, aespa toured North America, Asia, and Europe.
The sales of the albums are predicted to grow as SM Entertainment is gearing up for some major album releases in the coming months! NCT 127 kicked things off with their 5th full-length album last month, and RIIZE dropped their single Talk Saxy on October 27.
In November, we can expect WayV’s 2nd full-length album, aespa 4th mini album, and Red Velvet’s 3rd full-length album to hit the shelves. Taeyeon will also be releasing her 5th mini album, and Ryeowook has a single coming out.