BLACKPINK's YG Entertainment records losses due to Seungri and CEO scandals
Recently, the financial results of all the K-pop agencies have been released in what would be the first half of the year. In this way, something that has managed to highlight has been the record in losses by the agency YG Entertainment, which, for the first time in history, would have reached a deficit figure of 2.1 million dollars, which would place it between one of the worst results for this first half of the year.
All these data would be being caused due to the multiple scandals that YG Entertainment experienced in its last months. Thus, its CEO, Yang Hyun-suk, had been involved in prostitution cases and a variety of other highly controversial accusations. Additionally, BIGBANG member Seungri would be caught up in a hookup of prostitution and money laundering.
YG Entertainment experiences record losses on first half 2019 financial results
YG Entertainment has been listed, for many years, as one of the top K-pop agencies. Even so, due to his multiple scandals and the terrible financial results of this first half of the year, his reputation would be at great risk, and he could lose the honor of belonging to the top 3 of the best K-pop companies.
When compared to other big K-pop companies, YGE would rank even worse in this first half of the year. Thus, Big Hit Entertainment (BTS), would have achieved an approximate income of 37 million dollars, all thanks to the global impact of BTS. On the other hand, SM Entertainment made a profit of $5.6 million and JYP Entertainment made a profit figure of $12.7 million.
Apart from all this terrible performance of YG Entertainment in what would be the first half of the year, lately there has been some news that the trainees of this agency are trying to change companies, because they do not want to ruin their reputation or debut in an agency experiencing one of the biggest scandals ever in the K-pop industry.
YG Entertainment's numbers are expected to improve with BLACKPINK's upcoming comeback for what would be the end of 2019. Thus, YGE has put all its effort into Rose, Lisa, Jennie and Jisoo having one of the most shocking and emotional musical comebacks of the entire music scene.