K-pop stocks have taken a beating this year, with JYP Entertainment shares leading losses in the sector and shedding a third of its market value.
It hasn't been an easy start to the year for investors in the K-pop sector as lower fourth-quarter sales and profits, as well as dating scandals, hit stock prices. In February, the stock fell for five straight sessions to its lowest level since October 2022 following the drama surrounding Karina, the leader of girl group Aespa. The sell-offNonetheless, Goldman Sachs said it sees a"high potential for valuation re-rating," as companies still continue to deliver multi-year earnings growth. For 2023, all four companies
The analysts also said album sales spiked during the pandemic due to the lack of offline interactions, which distorted the metric in relation to fans.When evaluating the industry by in-person concert attendance, Goldman said"growth has not stopped scaling at a rapid pace," and"in the near term, we see audience growth in Japan as the key growth driver."
In 2023, Kouhaku Uta Gassen, the largest music show in Japan, invited five K-pop artists and two localized groups produced by K-pop companies. It was the first time the show has featured male K-pop artists since 2011 and the largest number of K-pop groups ever featured in its line up. The report pointed to the success of Hybe-managed girl group NewJeans on U.S. charts. In a March 27 report, analysts noted NewJeans' most recent album hit No. 1 on the U.S. Billboard 200. The group's lead single,"Super Shy," charted at No. 2 on the Billboard Global 200.Le Sserafim, managed by Hybe subsidiary Source Music, also made their debut at the Coachella music festival on April 13, with another show scheduled for April 20.
Brasil Últimas Notícias, Brasil Manchetes
Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.
Fonte: CNBC - 🏆 12. / 72 Consulte Mais informação »