South Korean music company SM Entertainment has published its latest financial results, for Q2 2024. They revealed that the company’s revenues grew 5.9% year-on-year to KRW 253.9bn last quarter – $186.2m at current exchange rates.
Album sales and streams were key to this: up 31.9%, while revenue from concerts increased by 86.1% compared to last year. Among the big hitters for album sales were Aespa, whose ‘Argameddon – Double Titles: Supernova and Armageddon’ sold nearly 1.2m units, and Riize, whose ‘Riizing – Boom Boom Bass’ sold 1.3m.
NCT Dream, Aespa and Shinee were among the success stories on the concert circuits meanwhile. NCT Dream look set to be a key act for SM over the rest of 2024, and not just domestically. They will release an English-language single in Q3 ahead of a full album in Q4, and a tour that will take in the UK, France, Germany, Denmark and the Netherlands.
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