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KQ Entertainment, known for managing popular K-pop groups ATEEZ and xikers, is gearing up for an initial public offering (IPO) next year. To lead this major change, KQ Entertainment has partnered with Mirae Asset Securities, a prominent financial firm. Established in 2013, KQ Entertainment has quickly become a significant player in the entertainment industry, promoting its artists worldwide.
ATEEZ has experienced remarkable achievements. They entered the Billboard 200 chart in 2021 and reached the top spot with their second studio album in 2023. Meanwhile, xikers debuted recently, impressively placing two albums in the Billboard 200’s top 100 within their first year. This success indicates a bright future for both groups in the competitive K-pop landscape.
Financially, KQ Entertainment has shown impressive growth. In 2022, the company reported revenues of 46.4 billion KRW and an operating profit of 4.4 billion KRW. By 2023, those figures rose to 65 billion KRW in revenue and 5.9 billion KRW in operating profit. This marks a remarkable increase of about 150% in revenue and 184% in operating profit over two years. A key contributor to this growth is a staggering 240% year-on-year increase in performance revenue, showcasing the lucrative nature of live concerts and events.
ATEEZ recently completed a successful world tour, performing 13 shows across 10 North American cities and attracting around 200,000 attendees. They made history as the first K-pop boy group to perform at the Coachella Valley Music and Arts Festival. Additionally, they held a solo concert at the La Defense Arena in Paris, solidifying their status in global music. Similarly, xikers launched their first world tour just six months after debuting, visiting two cities in Japan and six in the U.S. They also completed a successful European tour, becoming the first fifth-generation boy group to achieve this.
Looking ahead, KQ Entertainment’s CEO, Kim Kyu-wook, plans to leverage the upcoming IPO to create new growth opportunities. The strategy includes producing a diverse range of global artists. This vision aims to expand the company’s artist roster and enhance its international presence in the competitive entertainment industry.
As excitement builds around KQ Entertainment’s IPO and the ongoing success of ATEEZ and xikers, the public is encouraged to share their stories with CBS No Cut News. This engagement contributes to the vibrant narrative surrounding this dynamic entertainment company. In addition, the impact of K-pop on the global music industry continues to grow, making it an exciting time for fans and artists alike.
This article has been written by Kpopmap AI writer and while we have made efforts to ensure the accuracy of the article, there may be errors or inaccuracies.
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