As the Kpop industry continues to shape global music trends, the recent release of the Q3 2024 financial results for South Korea’s Big 4 entertainment companies — HYBE, SM Entertainment, JYP Entertainment, and YG Entertainment — has sparked intense discussions among Korean netizens.
Online Reactions to Q3 2024 Financial Results of HYBE, YG, SM, and JYP
Discussions among Korean netizens highlight a growing concern over the financial health and reputation of the Big 4 entertainment companies. Many fans and investors have expressed disappointment in HYBE and YG’s performance. They are questioning the companies’ ability to adapt to both internal and external challenges.
- “YG, get out now, you’re going to become like DSP or Cube.”
- “It’s funny that YG only needs to be aggressive, but HYBE doesn’t know that money will flow in even if they are aggressive.”
- “What does YG do these days? It seemed like TREASURE was on tour all the time. Where is their earning?”
- “What’s with HYBE? lol.”
- “JYP Entertainment is impressive.”
- “JYP Entertainment makes the least noise but is the strongest among all the entertainment companies.”
- “I thought HYBE was reaping up money from fans. Where did that money go?”
- “JYP’s results are the best among the Big 4. That’s crazy.”
- “HYBE and YG…”
- “JYP is investing well, making good profits, and running the company well, so I hope JYP does well too.”
HYBE: A Disappointing Decline in Earnings
HYBE reported revenue of 527.8 billion KRW (~375.3 million USD) in Q3 2024. The result represented a 1.9% decline compared to the same period in 2023. The company’s operating profit dropped by 25.4%, amounting to 54.2 billion KRW (~38.5 million USD).
However, what shocked many netizens was the staggering 98.6% decrease in net profit. HYBE was left with a mere 1.4 billion KRW (~995,382 USD) in net earnings.
Korean netizens were quick to voice their opinions, citing internal controversies and leaked documents as potential factors behind HYBE’s underperformance.
Launched on October 30, the petition titled “Petition on the Revocation of HYBE’s ‘Top Enterprise’ Status” has gained significant traction. Many speculate that this growing movement could further impact HYBE’s public image and financial performance.
YG Entertainment: Struggling to Maintain Its “Big 4” Status
Meanwhile, YG Entertainment, the house of BLACKPINK and WINNER, also faced challenges in its Q3 earnings. Korean netizens pointed out the company’s disappointing financial performance in Q3 2024.
The Q3 2024 result might suggest that YG will lose its foothold among the Big 4 Kpop entertainment companies. Many believe that the agency is struggling to maintain its competitive edge amidst industry changes and growing competition.
SM and JYP: Stability Amidst the Storm
In contrast, SM Entertainment and JYP Entertainment have weathered the storm better than their counterparts. The two companies showed more stable performances in their Q3 2024 results.
Both SM Entertainment and JYP Entertainment have consistently diversified their artist rosters and expanded into new areas of business, such as merchandise and online content.
However, despite their resilience, the gap between them and HYBE and YG is becoming more apparent as the entertainment landscape continues to evolve.
What’s Next for the Big 4?
With these financial results and public sentiment shaping the narrative, the future of the Big 4 remains uncertain. HYBE and YG will likely face pressure to address public concerns and implement strategic changes. Meanwhile, fans and industry watchers will undoubtedly continue to monitor these companies closely as the year draws to a close.
What do you think lies ahead for these entertainment giants? Share your thoughts in the comments below—we’d love to hear your take!
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Source: theqoo
