The companies considered as the “Big 3” in the Korean music industry – SM Entertainment, YG Entertainment, and JYP Entertainment – were revealed to have risen in sales at an incredibly rapid rate over the last three years with YG having the sharpest increase rate.
According to the Financial Supervisory Service on April 8, SM Entertainment’s sales were at 164 billion won (~ $156 million USD) in 2013, which is an increase of 90.2% compared to 2010 (86.4 billion won or around $82 million USD).
Meanwhile, YG sales reached 106 billion won (~ $100 million USD) last year, which is a striking 135.9% increase in three years! Compare this to sales in 2010 for YG, which was around 45 billion won or around $42.7 million USD. This makes YG Entertainment the company with the highest increase rate out of the Big 3.
Lastly, JYP had sales of 18 billion won (~ $17 million USD) in 2013, which was about 7 billion won (~ $7 million USD) more than the 10 billion won (~ $10 million USD) they earned in 2010.
While both SM and JYP nearly doubled their sales within the last three years, YG has managed to go above and beyond in regards to the increase rate! Market analysts believe the increasing popularity of K-pop and Hallyu across Asia, Europe, and North America are the main factors for this increase in sales.