The failure of 'MIXNINE' led to a loss of $10 million for YG Entertainment.
Recently, YG Entertainment released the financial reports for the first quarter of 2018. The results were a disappointment for the company as they sawa drastic drop in operating profit and revenue.
According to financial analysts, the failure of 'MIXNINE' played a major role in the loss. 'MIXNINE' revealed to have brought a loss of 7 billion KRW ($6.47 million) in the quarter. Combined with the 4 billion KRW ($3.7 million) loss from the previous quarter, the total loss is 11 billion KRW ($10 million) for YG Entertainment.
Meanwhile, the viewer ratings for 'MIXNINE'dropped down to the 0% range.The debut of the final groups was also canceled.
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