K-pop agencies mostly struggled in third quarter — but 2025 may bring financial recovery

In the third quarter of the year, K-pop businesses continued to struggle, with three of South Korea’s largest agencies, SM Entertainment, JYP Entertainment, and YG Entertainment, posting poorer financial results. The industry slowdown is attributed to declining album sales and the absence of groups like Blackpink and BTS, who are either on hiatus or fulfilling mandatory military service. Despite streaming revenue not fully compensating for the loss in album sales, shares of these agencies have suffered significant declines, with Hybe, the fourth largest agency, seeing an 11% drop in stock value this year on the Kospi.

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