Financial Report Shows NCT Will Debut in China Later This Year
Troy Young, May 18, 2018, 8:37 a.m.
Asset management company Hanwha Investment & Securities Co. released their numbers for SM Entertainment’s projected financial growth for 2018. According to Hanhwa, SM Entertainment has recorded an operating profit of 10.4 billion KRW (approx. 9.6 million USD) for the first quarter of 2018, and increase of 766% from the previous year.
Hanwha stated that SM Entertainment’s operating success comes from factors like their huge fanbase and audience for SM artists at their Japanese concerts, the growth of artists in SM, and higher profits from overseas.
A financial researcher from Hanwha also stated, ‘Rookie boy group NCT managed to surpass 300,000 copies of their full-length album in sales, and in the latter half of 2018, a China unit of NCT made up entirely of Chinese members is set to debut. The label's head artists including EXO, SHINee, and TVXQ also have domestic promotions planned, so [we] can expect SME's profits to increase further in the latter half.’