FNC Entertainment including ”FTISLAND” and ”CNBLUE” achieved sales of 92.4 billion won, an increase of 40.5% from the previous year! Generated new sales from TV series production business such as “Wedding Day” starring Rowoon

FNC Entertainment (hereafter FNC) stated on the 28th that its sales for the year 2023 standards were 92.4 billion won, an increase of 40.5% compared to the previous year. The operating loss was 8.9 billion won. Compared to the previous year, the deficit improved by 32.60% and the size of the loss decreased.

In recent years, FNC has reorganised its overall structure by liquidating non-core businesses and merging subsidiaries in order to focus on its main business, the music business. Subsidiaries FNC W and FNC Academy, which were merged on the 1st January this year, will benefit from reduced accounting and legal costs and more efficient asset management through the merger, which will improve their performance on a consolidated basis. Internally, efforts to improve profits, including minimising unnecessary costs, have resulted in a significant improvement in last year's operating loss.

In the music business division, which is the main business, the performance activities of singers and album sales of 'P1Harmony' more than doubled compared to the previous year, and the profit margin also improved due to the increased scale of performances and management of album costs. Existing groups such as 'FTISLAND', 'CNBLUE', 'N.Flying' and 'SF9' are concentrating on the music business, and the success of 'P1Harmony' in particular led to an improvement in profit and loss, and despite reflecting the investment costs of 'AMPERS&ONE', which debuted last year, operating results improved. It is worth noting that the operating result improved despite reflecting the investment costs of last year's debut of AMPERS&ONE.

'P1Harmony' has toured globally a total of 40 times in 2023, including Korea, the Americas, Europe, Australia and Asia, and their sixth mini-album 'HARMONY : ALL IN' has shown notable growth, ranking 51st on the Billboard 200 chart for the first time. The digital single 'Fall In Love Again', a collaboration with producer Tricky Stewart, charted for 12 and 11 consecutive weeks on the US 'Mediabase Top 40' and the latest Billboard 'Pop Airplay' charts, respectively. The song has consolidated its position as a global idol. They are scheduled to hold concerts in 11 cities in North America, starting in Seoul on 27th-28th April.

In addition, the drama production business has been in full swing, starting with the KBS drama 'The Great Wedding Banquet' broadcast last October, which generated new sales of 17.3 billion won, with FNC actor Roeun (SF9) in the lead role and Fiyoung, Park Ji-won and Park Hyun-jung in the cast, and the drama production and affiliated The synergy between the artists' performances maximised profits. The company has a line-up of talented actors and writers, and has already completed long-term contracts with core artists based on trust, and is expected to contribute to increased profits through stable management activities and the production of at least one drama each year.