YG Entertainment is expanding globally and its artist lineup is impressive, said Mirae Asset Daewoo on Feb. 22, maintaining a “buy” recommendation and a 60,000 won (US$53.32) target price.
This year the company will debut solo singer Anda and boy band Treasure 13 and release albums for Black Pink and Winner. Meanwhile, the members of Big Bang are set to return from serving in the Army. In the first half alone, Winner and Black Pink combined are scheduled for 30 concerts around the world in addition to those in Korea and Japan, said analyst Park Jeong-yeop. Black Pink has confirmed an arena tour of the West, and the company is currently planning large-scale performances and promotions, he added.
The entertainment company reported on the previous day that its operating profit in the fourth quarter last year had declined 31.3 percent on-year to 3.1 billion won and its revenue 15.5 percent to 80.7 billion won. Increased production costs brought profit below expectations and significantly depressed revenue, according to the analyst. Nevertheless, Jennie, Song Min-ho and Winner have topped the music charts since November and the outlook for this quarter is optimistic, said Park.
By Hwang You-mee (email@example.com)