Kakao acquires SM Entertainment, sales exceed 2 trillion won for second consecutive year = South Korea

IT giant Kakao announced that its sales for the July-September period increased by 16.3% year-on-year to 2,160.9 billion won (approximately 248,639.85 million yen). SM, a major entertainment production company
Sales exceeded 2 trillion won (approximately 230.3 billion yen) for two consecutive years: the April-June period after taking over SM Entertainment (hereinafter referred to as SM Entertainment), and the current period. Excluding SM Entertainment
Sales increased by 2% to 1,904.5 billion won (approximately 219,284,890,000 yen). With the acquisition of SM Entertainment, the lineup of major artists has expanded. Boy group "N"
The album sales of the four groups, including "CT DREAM" and "RIIZE", have exceeded 1 million copies. It was the largest quarterly figure.
The outlook for the music sector is also bright. Girl group “IVE” made a comeback in October
The initial sales of their third album was 1.6 million copies, making it their third consecutive million-seller. In addition, the new group “NCT NEW” targeting Japan
The debut of ``TEAM'' is also coming up. Kakao's CEO Hong Eun-taek said, ``The music division has gone from a structure that relies on a few big artists to a growing fan base for all of our artists.''
"The multi-label system has become even more stable with the addition of SM Entertainment's popular artists."