SM Entertainment reveals a new girl group debuting after 5 years, alongside financial results and upcoming projects for 2024.
November/5/2024 15:14Related Groups & Members
From SM Entertainment (hereinafter SM), a new girl group will debut for the first time in about 5 years since aespa. On the 5th, SM revealed that 'in the third quarter of this year, consolidated sales reached 242.2 billion won (about 26.7 billion yen) and operating profit was 13.3 billion won (about 1.4 billion yen).' Compared to the same period last year, sales decreased by 9% and operating profit decreased by 73.6%. Sales were affected by a decrease in CD sales and a decline in sales from major subsidiaries, while operating profit decreased due to reduced sales from subsidiaries and the production costs of SM's first UK boy group dearALICE. On an individual basis, sales for the third quarter were 172.1 billion won (about 19 billion yen) and operating profit was 27.1 billion won (about 2.9 billion yen), both down 8.8% and 43.6% respectively compared to the same period last year. The decrease in album/music source sales was influenced by last year's new album sales, but the expansion of performances and the internalization of the performance business led to increased concert sales and expanded MD (merchandise) sales through concert collaborations. The net profit for the period was 16 billion won (about 1.7 billion yen), a decrease of 56.8% compared to the same period last year. SM announced activities for its artist lineup in the fourth quarter of this year and the first quarter of next year. In particular, a new girl group is set to debut in the first quarter of next year, about 5 years after aespa, generating anticipation. This is part of SM 3.0's IP expansion roadmap, which includes global IP expansion projects such as the UK boy group dearALICE and the first virtual artist nævis, showcasing new IP alongside the release of a single in the first quarter of next year. Additionally, aespa's mini-album 'Whiplash,' released on October 21, has gained significant popularity following the release of individual member solo songs during concerts, demonstrating their influence with consecutive hits starting from 'Supernova.' In November, SHINee's Minho will release his first full album, and NCT DREAM will release their 4th full album. Following the release of TVXQ's full album in Japan and their 20th-anniversary concert tour, NCT WISH's full album in Japan and NCT's Yuta's mini-album will also be showcased. Red Velvet's Irene's solo debut album, Girls' Generation's Taeyeon, WayV's mini-album, and nævis's single are also scheduled for release. In the first quarter of next year, marking SM's 30th anniversary, various projects including the 'SMTOWN LIVE' concert featuring SM artists and the 'SMTOWN' album are being prepared. NCT's Mark will officially release his first album, and EXO's Kai will make a comeback with a mini-album after a long time, along with mini-albums from Red Velvet's Seulgi, NCT WISH, and NCT's Ten. Co-CEO Chang Cheol-hyuk stated, 'SM will not only continue to support existing artists who have been loved for a long time but will also strengthen its artist IP lineup through the debut of new artists that began last year, including the debut of a new girl group next year.' He added, 'As we celebrate our 30th anniversary next year, we plan to showcase various projects such as performances, albums, and MD for many fans who have loved SM, so we hope for much anticipation.' - 'SMTOWN LIVE 2025' confirmed to be held at Korea's Gocheok Sky Dome! Anticipation for the first event in about 2.5 years - SM Entertainment to launch an album and concert featuring all its artists as part of the 30th-anniversary project.
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