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SM Entertainment is set to introduce a new girl group for the first time in five years since aespa. On the 5th, SM Entertainment announced that it recorded a revenue of 242.2 billion KRW and an operating profit of 13.3 billion KRW in the third quarter of this year. This marks a decrease of 9.0% in revenue and 73.6% in operating profit compared to the same period last year, primarily due to a decline in album sales, a drop in sales of major affiliates, and the production costs of SM’s first UK boy group ‘Dear Alice’s broadcast program.
On a standalone basis for the third quarter, it recorded sales of 172.1 billion KRW and an operating profit of 27.1 billion KRW, decreasing by 8.8% and 43.6% respectively from the previous year. However, concert sales showed a significant upward trend through the expansion of performances and an increase in related merchandise (MD) sales. The net profit for the period was 16.0 billion KRW, a decrease of 56.8%.
SM is planning active promotions for its artists in the fourth quarter and the first quarter of next year, with the debut of a new girl group in the first quarter of next year, marking the first such debut in five years since aespa. This is in line with SM 3.0’s IP expansion roadmap, introducing new global IP with the release of singles and full-fledged promotions.
aespa continues to enjoy immense popularity with the release of individual solo song singles showcased at their concert, followed by the mini album ‘Whiplash’. They have been maintaining an unrivaled streak of consecutive hits, starting with ‘Supernova’ this year. In November, the release of albums by SHINee MinHo and NCT DREAM is planned, garnering high expectations from global music fans.
Additionally, TVXQ is continuing their 20th-anniversary concert tour and releasing a regular album in Japan, while NCT WISH and NCT YUTA are also set to release albums in Japan. Furthermore, a variety of new works including Red Velvet Irene’s first solo debut album, Taeyeon, WayV’s mini album, and nævis’s single will be unveiled.
In the first quarter of next year, to mark SM’s 30th anniversary, various commemorative projects are being prepared, including the SM Town Live Concert and SM Town Album. The first regular album of NCT Mark, a mini album by EXO Kai, and mini albums by Red Velvet SeulGi, NCT WISH, and NCT Ten are also anticipated, drawing fans’ attention.
Co-CEO Jang CheolHyuk stated, “SM is building an artist IP that encompasses all generations of K-pop through the harmony of existing and new artists, and will further strengthen the lineup with the debut of a new girl group next year,” adding, “We are preparing various projects to commemorate our 30th anniversary, so please look forward to it.”
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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