BLACKPINK, TREASURE and Other Key Entertainers Contributing to Its Growth in Album/Music Distribution and MD Business. 

 

YG PLUS announced its tentative business results on February 24th, 2021. 

 

YG PLUS, a subsidiary of YG Entertainment, commented that its consolidated sales and operating profit amounted to KRW 107.13976 billion and KRW 6.13863 billion respectively in 2020. The company’s sales inched down by 5.7% while its operating profit surged by 35.6% on a year-on-year basis.   

 

The company noted that “While our overall sales declined amid the COVID-19 pandemic, our music, MD and other main businesses grew markedly as BLACKPINK, TREASURE and other artists resumed their activities from the second half of last year. Specifically, our sales from album/music distribution and online concert MD increased significantly in the last 4th quarter along with BLACKPINK making a comeback, and this translated into 40% and 125% sales growth in distribution and MD business respectively from the previous quarter. Our financial investment business operated by our subsidiary also generated high profits to positively impact our business results”. 

 

Meanwhile, YG PLUS excluded ‘Codecosme International’, its cosmetics business subsidiary, from consolidation as of the end of last year. This is the result of the decision made to establish a local joint venture (JV) in China with a strategic partner and transfer the cosmetic brand and business operated by Codecosme International (brand name ‘moonshot) to the JV. This is in line with the company’s policy to focus on the Chinese cosmetics market that holds great growth potential. 

 

Recently, the company has formed strategic partnerships with Big Hit Entertainment and beNX for business collaboration. 

 

These partnerships include collaboration on album/music distribution and MD production for artists from Big Hit Entertainment and its affiliates as well as making MD for YG entertainers available on the Weverse platform. 

 

As YG PLUS has been mainly responsible for album/music distribution and MD production for YG Entertainment artists, such collaboration will serve to help the company expand its music and MD business territory and further boost its competitive edge.  

 

According to YG PLUS, the company “aims to focus more on the growth and expansion of entertainment business that spans music, MD and advertising from this year onwards to create momentum for sustained growth”.