On February 10, SM Entertainment announced a remarkable 275.6% year-on-year increase in consolidated operating profit for the fourth quarter of 2023, reaching 33.9 billion won. Sales rose by 9% to 273.8 billion won, while net loss for the period was reduced to 24.1 billion won—less than half of the previous year’s deficit.
Separate sales saw an 11% increase to 181.8 billion won, with separate operating profit surging 83.2% to 35.8 billion won. Notably, net profit turned positive at 8.3 billion won. SM credited the growth to higher merchandising and licensing sales, as well as increased concert revenue.
Marking its 30th anniversary this year, SM Entertainment is set to debut its new girl group Hearts To Hearts and release comebacks from aespa and Rise. The company recently hosted the SM Town Live Concert and will drop a 30th-anniversary album on February 14.
March will see solo albums from Red Velvet’s Seulgi, NCT’s Ten, and a single from Navis. In Q2, aespa will release a mini-album, while Rise is set for a full-length album. Additionally, world tours by aespa and NCT 127, TVXQ’s Japan tour, and Asia tours by Super Junior’s Yesung and SHINee’s Minho are also on the horizon.
Co-CEO Jang Chul-hyuk emphasized SM’s commitment to staying true to its roots while driving innovation and expanding its artist intellectual property (IP), ensuring continuous growth in the evolving entertainment landscape.
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