Cube Entertainment (hereinafter ‘Cube Entertainment’) has announced an astonishing performance, surpassing last year’s total revenue and operating profit by the third quarter of this year. This achievement was made possible thanks to the fervent love of domestic and international fans and the active endeavors of the artists.
According to Cube Entertainment’s 2024 third-quarter report, the accumulated revenue up to the third quarter of this year is 160.8 billion won, and the operating profit is 15.9 billion won, marking increases of 52% and 59% respectively compared to the same period last year. They have recorded the highest performance ever, far surpassing last year’s annual revenue of 142.3 billion won and operating profit of 15.4 billion won in just three quarters.
A representative from Cube Entertainment stated, “This year, (G)I-DLE achieved top results in albums and digital music, and the successful debut of the rookie boy group NOWADAYS played a significant role.” Additionally, sales from albums and digital music recorded a 150% increase compared to last year by the third quarter, and advertising revenue also reached 90%. Particularly, ‘Riddle Shot’, which is being distributed offline in Japan through a subsidiary, has gained great popularity and contributed to the improved performance.
Furthermore, Cube Entertainment revealed plans to strengthen its operational funds and core business capabilities through a change in major shareholders and fundraising in the third quarter. These efforts are focused on enhancing the value of the company and its shareholders and laying the foundation for long-term growth.
Cube Entertainment aims for continuous growth in the future, and there is anticipation for what new achievements they will showcase. This signals a bright future for the Korean entertainment industry, drawing the attention of fans and investors alike.
