Big Hit Entertainment’s Revenue Nearly Doubles In 2019

Big Hit Entertainment continues to prosper!

During Big Hit Entertainment’s corporate briefing on February 4, Big Hit Entertainment co-CEO Bang Shi Hyuk talked about the company’s upcoming plans as well as the current state of their business.

Following Big Hit Entertainment’s acquisition of Source Music and launch of BELIFT, the company advanced the depth of their business areas by separately incorporating each business unit and was able to become a multi-business company. Through diversification, their businesses in the fields of music, concerts, video content, IP, and platforms contributed evenly to their revenue.

Big Hit Entertainment recorded approximately 587.9 billion won (approximately $495.3 million) in consolidated revenue from 2019, which is approximately double  last year’s revenue. The company also recorded 97.5 billion won (approximately $82.1 million) in operating profit. This data is based on the K-IFRS consolidation criteria and shows provisional performance before external audit.

In 2018, the K-IFRS performance (from financial statement before external audit) recorded was 301.4 billion won (approximately $253.9 million) in revenue with an operating profit of 79.8 billion won (approximately $67.2 million). These numbers are different from what was announced last year because it applies K-IFRS’s consolidation standards. The above performance could change depending on the results of external audit.

Source (1)