K-pop stocks have sold off this year, but Goldman sees a turnaround

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.

CHICAGO, ILLINOIS - AUGUST 03: Danielle, Hyein, Hanni, Minji and Haerin of NewJeans perform in concert during Lollapalooza at Grant Park on August 03, 2023 in Chicago, Illinois.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.

Shares of SM Entertainment have plunged over 17%. The decline comes as one of the agency's artists was embroiled in a dating scandal that drew 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."

Goldman estimated Japan concert audiences will grow at a 24% compounded annual growth rate from 2023 to 2026, with the combined share for Hybe, JYP and SM doubling from 7% to 14%.

Portugal Últimas Notícias, Portugal Manchetes

Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.

10 things to watch in the stock market Monday: Goldman Sachs, Nvidia, Constellation BrandsThe market is trying to rebound from Friday's selloff on hopes that the conflict in the Middle East doesn't escalate further.
Fonte: CNBC - 🏆 12. / 72 Consulte Mais informação »

Stocks making the biggest moves midday: Tesla, Goldman Sachs, Salesforce and moreThese are some of the stocks posting the largest moves in midday trading.
Fonte: CNBC - 🏆 12. / 72 Consulte Mais informação »

Worst may be over for Chinese stocks, but stick to alpha picks- Goldman SachsWorst may be over for Chinese stocks, but stick to alpha picks- Goldman Sachs
Fonte: Investingcom - 🏆 450. / 53 Consulte Mais informação »

Goldman Sachs' profit beats as investment banking fuels highest earnings since 2021Goldman Sachs' first-quarter profit beat Wall Street estimates as a recovery in underwriting and dealmaking boosted its investment banking unit, helping it post the highest earnings per share since 2021.
Fonte: Reuters - 🏆 2. / 97 Consulte Mais informação »