Stock prices for Korea's top entertainment agencies are all bouncing back from the impact of the COVID-19 global health pandemic.
Based on statistics released by the Korea Exchange, the stocks for JYP, SM Entertainment, YG Entertainment, and Cube Entertainment have all risen significantly compared to the first quarter of the year where prices recorded its lowest point, All Kpop reported.
According to the data, the biggest winner was CUBE Entertainment, whose willingness to boost its stock prices brought its price up to more than 200 percent. From 1,450 KRW in March, they are now at 4,480 KRW.
YG Entertainment, whose stock prices have been slipping way before the COVID-19 pandemic due to a string of scandals, also charted one of the highest jumps as its stock prices rose by 96 percent.
JYP Entertainment's stock prices increased by 93.35 percent. From 16,550 KRW in March, it nearly doubled to 32,000 KRW.
SM Entertainment also gained by recording a 63 percent increase in stock prices.
Currently, JYP has the highest market capitalization amounting to 1.135 trillion KRW. SM Entertainment also has a market capitalization of 726.9 billion KRW. YG Entertainment has 698.1 billion KRW invested in market capitalization while Cube Entertainment has 150.6 billion KRW.
While major concerts have mostly shifted to an online platform to curb the spread of the coronavirus in various parts of the world, analysts credit the rise of entertainment agency stocks to the bold choices that its leaders are making to keep Kpop relevant not only on a local scale but on an international level as well.
Among these measures is JYP's televised search to create a Japanese girl group. The auditions were attended by thousands of idol hopefuls who appeared in the NiziU Project. Park Jinyoung, CEO of JYP collaborated with Sony Music Japan for the ambitious project. NiziU, a nine-member group formed from the talent search topped the charts in Japan for their June 30 debut.
SM Entertainment's steady stream of comebacks from boy groups like NCT 127 and NCT Dream have also done a lot to increase the stocks. Baekhyun's solo comeback with Delight also helped SM Entertainment achieve 2.3 million in album sales, its highest since the fourth quarter of 2018.
YG Entertainment was off to a lukewarm start at the beginning of the year but the much-anticipated comeback from BLACKPINK smashed multiple viewing records on YouTube as well as music charts, it also elevated, YG's stock prices, All Kpop reported.
Meanwhile, CUBE Entertainment has been doing well with the recent comeback of (G)-IDLE, whose popularity is helped along by their performance in Queendom.
