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Big Hit Entertainment Sales, Profit Up In Fourth Quarter And Full Year 2020
February 23, 2021 at 10:13 AM (PT)
Sales, Profits Rise
SOUTH KOREA s BIG HIT ENTERTAINMENT 2020 full year sales increased 36% to KRW 796.3 billion in preliminary financial results released TODAY (2/23). Net profit rose 19% to KRW 86.2 billion. Fourth quarter sales jumped 117% year-to-year to KRW 312.3 billion, with operating profit increasing 122% to KRW 52.5 billion.
The increase was led by strong album sales from BTS, SEVENTEEN, TOMORROW X TOGETHER, and ENHYPEN, with revenue from album sales nearly tripling to KRW 320.6 billion. Revenue from off-line concerts fell due to COVID-19, but official merchandise and licensing, content, and fan club related sales all showed substantial growth, as did fan platform WEVERSE.
By Jaryn Vecchio
MOB Goaltender Evan Fradette // Photo via Fort McMurray Oil Barons
A new 50/50 draw is being launched to support the Alberta Junior Hockey League.
The provincial government, in partnership with the AJHL, is putting on the draw to help offset the revenue lost by the 15 teams, including the Fort McMurray Oil Barons, since the COVID-19 pandemic started.
The five Albertan teams in the Western Hockey League – Calgary Hitmen, Edmonton Oil Kings, Red Deer Rebels, Lethbridge Hurricanes, and Medicine Hat Tigers – will also benefit from the fundraiser.
“Although the challenges over the past year were new and unfamiliar, the community support and passion for our teams has been unwavering and we are excited to capture that passion through this initiative,” said Ryan Bartoshyk, AJHL Commissioner.
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