SM Entertainment’s Bold Plans for 2024: New Girl Group Debut and Global Expansion

SM Entertainment recently announced its third-quarter results and future plans. The company recorded sales of 242.2 billion KRW and an operating profit of 13.3 billion KRW, marking a decrease of 9.0% and 73.6% respectively compared to the same period last year. This decline was attributed to reduced album sales and a drop in major subsidiary revenues. However, increased concert sales and expanded related merchandise sales partially offset some losses.

Next year, in the first quarter, SM plans to debut a new girl group for the first time in five years since aespa. This project is part of SM 3.0’s IP expansion roadmap, aiming to solidify its presence on the global stage. Following the successful launch of global boy group project ‘Dear Alice’ and the first virtual artist nævis, SM will introduce new IPs.

Additionally, aespa has recently gained significant attention with their mini-album ‘Whiplash’. Anticipation is also building for SHINee MinHo’s first full album and NCT DREAM’s fourth full album. Furthermore, TVXQ’s 20th-anniversary concert tour in Japan and various other activities in Japan are planned.

In celebration of its 30th anniversary next year, SM is preparing diverse commemorative projects, including SMTOWN LIVE concerts and SMTOWN albums. The first full album of NCT Mark, EXO Kai’s comeback, and new album releases from Red Velvet’s SeulGi are also announced. These activities are expected to be a significant stepping stone for SM’s global expansion and future endeavors. The next steps of SM are highly anticipated.

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.