SM Entertainment Earnings: Revenue Up 19% on RIIZE, NCT WISH Albums – Billboard

Though concert revenue was down slightly, merch and licensing revenue grew 39.6% due to concert merch sales and pop-up events. RIIZE SM ENTERTAINMENT SM Entertainment’s consolidated revenue jumped 19.3% to 302.9 billion KRW ($216.5 million) in the second quarter, the company announced Wednesday (Aug. 6).  Driven by a 1.9 million-unit increase in new album sales, album and digital music revenue of 99.0 billion KRW ($70.8 million) was up 37.9% from the prior-year period. RIIZE’s Odyssey sold 1.93 million units, NCT WISH’s The 2nd Mini Album sold 1.34 million copies and aespa’s “Dirty Work” single sold 900,000 units. In total, SM Entertainment’s new release sales totaled 5.79 million units in the quarter.  Related Concert revenue of 33.6 billion KRW ($24.0 million) was down 1.9% year over year. The SMTOWN 30th anniversary concerts were held in London, Los Angeles and Mexico City. TVXQ! hosted three concerts at the Tokyo Dome. NCT 127 performed six times in Japan and Macau. Ten performed 15 concerts, NCT WISH had 10 performances and SHINee held three concerts.  Trending on Billboard Merchandise and licensing revenue rose 39.6% to 63.9 billion KRW ($45.7 million). The company attributed the increase to concert merchandise sales, an NCT WISH exhibition pop-up
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