{"id":70769,"date":"2024-02-08T21:03:35","date_gmt":"2024-02-09T02:03:35","guid":{"rendered":"https:\/\/www.cyberlego.com\/web\/2024\/02\/08\/sm-entertainment-revenue-falls-despite-album-sales-surge-from-nct-127-aespa-releases\/"},"modified":"2024-02-08T21:03:35","modified_gmt":"2024-02-09T02:03:35","slug":"sm-entertainment-revenue-falls-despite-album-sales-surge-from-nct-127-aespa-releases","status":"publish","type":"post","link":"https:\/\/www.cyberlego.com\/web\/2024\/02\/08\/sm-entertainment-revenue-falls-despite-album-sales-surge-from-nct-127-aespa-releases\/","title":{"rendered":"SM Entertainment Revenue Falls Despite Album Sales Surge From NCT 127, aespa\u00a0Releases"},"content":{"rendered":"

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\n\tWith a slate of new artists and a recently launched North American joint venture<\/a>, SM Entertainment\u2019s revenue reached 250 billion won ($189.5 million at the period\u2019s average exchange rate) in the fourth quarter of 2023, down 3.4% year over year and 6.1% lower than the third quarter, the company announced Wednesday (Feb. 7). Operating profit dropped 51.7% to 10.9 billion won ($8.3 million) while the company posted a net loss of 19.7 billion won ($14.9 million) compared to a 1.9 billion won ($1.4 million) net profit in the prior-year period.\u00a0<\/p>\n

\n\tThe company attributed a decline in revenue from its concert-related subsidiaries to smaller-sized concerts and a decline in its content-related subsidiaries to \u201cslow business conditions.\u201d \u00a0SM Entertainment\u2019s share price rose 0.2% to 73,000 won ($54.77) after the earnings release.<\/p>\n

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\t\t\t\t\tSM Entertainment Unveils ‘First-of-its-Kind’ Partnership on New TV\u00a0Format\t\t<\/p>\n<\/h3><\/div>\n

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\n\tSM Entertainment sold 5.6 million albums in the fourth quarter, up 40% from the prior-year quarter; NCT 127\u2019s album Fact Check<\/em> sold 1.86 million units and aespa\u2019s Drama<\/em> EP sold 1.26 million units. As for concerts, NCT Wish performed 24 shows in nine cities in Japan ahead of its debut album\u2019s release later this quarter. SHINee performed for 80,000 fans at four concerts in Japan. NCT 127 had six concerts in Seoul, Korea with a total attendance of 60,000. <\/p>\n