Hive 4%, YG Entertainment 3% strength
Profitability of 4 entertainment companies to improve as China lifts Korean-Korean law
Enter stocks are rising on news of individual good news from entertainment companies. [사진 와이지엔터테인먼트]
Enter stocks are also strong. Expectations for a comeback and news of billions of views seem to have gathered investment sentiment in Hive and YG Entertainment.
As of 10:53 am on the 3rd, Hive is trading at 176,500 won, up 4.14% (7,000 won) from the previous day. At the same time, YG Entertainment is trading at 49,800 won, up 3.54% (1,750 won) from the previous day.
News of the comeback of New Jeans, a rookie girl group of Adore, a label under Hive, seems to have boosted stock prices. New Jeans’ first single, ‘OMG’, reached the top of the Hanteo Chart’s daily album chart on the 2nd, the day of its release. On the first day of release, album sales exceeded 480,000 copies. The title song, OMZ, took first place on the real-time charts of domestic music sites, and the b-side song ‘Ditto’ took second place, respectively.
YG Entertainment also rose as its affiliated girl group, BLACKPINK, surpassed 300 million views on YouTube.
YG Entertainment announced that BLACKPINK’s second regular album title song ‘Shut Down’ and BLACKPINK member Lisa’s solo song ‘MONEY’ have surpassed 100 million views.
The music video for “Shut Down” surpassed 300 million views on YouTube at 3:31 am on the same day. This is regarding 110 days following the album was released on September 16 last year. The ‘MONEY’ dance practice video also exceeded 100 million views in one year following its release.
Meanwhile, YG Entertainment closed 9.58% the previous day on the news that it would introduce a new girl group ‘Baby Monster’ following 7 years since Black Pink.
The stock market also believes that investor sentiment will improve overall in entertainment stocks, such as individual favorable news and expectations for China’s lifting of the Han-Korean law. Lee Hye-in, a researcher at Yuanta Securities, said, “If the ban on Korean culture in China is lifted, consumption in the Greater China region, such as album sales, will increase, and additional sales growth is possible.” All of them will improve profitability.”
Reporter Hong Da-won daone@edaily.co.kr