SM Entertainment Releases 2014 Sales Revenue Information
D-Bo , March 5, 2015, 12:18 p.m.
SM Entertainment has released its 2014 sales revenues. The company earned a record 287 billion won (approx. $261 million USD) in total sales during the year of 2014. This is a 6.8% rise from their 269 billion won ($245 million USD) total sales amount in 2013.
SM credits a big part of their sales growth to their activities in China. Compared to their sales in 2013, SM made a 146% sales growth in China with 25.6 billion won ($23.3 million USD). SM expects this trend to continue in the years to come.
As for SM's activities in Japan, due to the yen declining in value, the relocation of the company building, rent increase, new management system, increased labor costs, etc., SM only saw a growth of 15% in profit in Japan.
SM has additionally reported that their subsidiary SM Culture & Contents has increased in 5.8 billion won ($5.3 million USD) in total sales compared to their total sales in 2013, making the profit amount 60.6 billion won ($55.1 million USD). However, due to drama and broadcast production cost and management activities, SM C&C's deficit also increased by 6.3 billion won ($5.7 million USD).
SM Entertainment is a South Korean entertainment company, founded by Lee Soo-man. The company operates a record label, talent agency, film production company, music production company and a music publishing house. A prominent entertainment company in South Korea, the label is one of the three biggest record labels in the K-pop industry, alongside YG Entertainment and JYP Entertainment.