3

0

Variety

YG Entertainment loses $10 million due to the failure of 'MIXNINE'

Posted by yckim124764 pts Wednesday, May 16, 2018
Yang Hyun Suk
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 saw a 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. 
  1. Yang Hyun Suk
  2. YG ENTERTAINMENT
  3. MIXNINE
0 63,467 Share 100% Upvoted

allkpop in your Inbox

THE TOP 10 STORIES DELIVERED DAILY
Red Velvet, Yeri
IU
WINNER, Song Min Ho (Mino)
Lee Byung Hun, Lee Min Jung
T-ara, Hyomin, Soyeon
misc.
Red Velvet, Wendy, Yeri
Yoo Ah In
Jang Na Ra, Nam Ji Hyun
Red Velvet, Yeri
Red Velvet, Wendy, Yeri
misc.
IU
Red Velvet, Yeri
IU, Kim Seon Ho, Moon So Ri, Park Bo Gum, Yeom Hye Ran
New Message

SEND