Big Hit Entertainment recorded the best annual performance in 2020 since its inception.
Sales increased by 36% compared to 2019, and operating profit and net profit increased by 44% and 19%, respectively, recording the highest performance since its inception even under the COVID-19 pandemic.
Along with this, Big Hit announced that sales in the fourth quarter of 2020 were KRW 312.3 billion and operating profit of KRW 52.5 billion, an increase of 117% and 122% compared to the same period last year, respectively.
As a result, album sales increased 196% year-on-year to KRW 320.6 billion. Growth across the different business units contributed to the overall sales growth.
The global fan community platform Weverse continued to grow.
“We have a strategy to continuously expand the business scope through mergers and acquisitions (M&A) along with the continuous organic growth of the artists of Big Hit Labels.”
Source: sports.chosun.com
