On the 21st, shares of YG Entertainment and its subsidiary YG PLUS are strong in early trading. The surge in expectations for improved performance is interpreted as being driven by the popularity of its affiliated artist BLACKPINK's music in the global market.
As of 10:23 a.m. on the 21st, YG Entertainment is trading at 90,600 won, up 5,700 won (6.71%) from the previous trading day on the KOSDAQ market. Its subsidiary YG PLUS saw its stock price soar shortly after the opening, showing an increase of 1,000 won (12.52%) to 8,990 won.
The news that the affiliated artist BLACKPINK ranked first on global music platform sites with their new song "Jump" is acting as a tailwind for the stock price.
According to YG Entertainment, BLACKPINK's "Jump" ranked first in the Spotify Global Weekly Chart announced on the 17th (local time). It also topped the iTunes Song Chart in a total of 61 countries, including the United States.
In addition, BLACKPINK is currently conducting a world tour "BLACKPINK WORLD TOUR DEADLINE" in a total of 16 cities over 31 performances.
Kim Min-young, a researcher at MERITZ Securities, noted, "This year's consolidated revenue is expected to be 564.4 billion won, up 54.7% from the same period last year, and operating profit is projected to turn to a surplus of 72.9 billion won, leading to strong performance growth from the third quarter as large-scale tours take place during a period of high MD sales growth."