FNC Entertainment Sees Significant Growth in Music Sales and Expands Global Reach

FNC Entertainment has reported a significant increase in its music business revenue, with a rise of 14 billion KRW compared to the previous year.

FNC Entertainment Co., Ltd. (173940, FNC Entertainment) announced its 2024 consolidated financial results through the electronic disclosure system.

While the consolidated sales revenue was 86.8 billion KRW, marking a 5.8% decrease from the previous year, the exclusion of 2 billion KRW from the discontinued printing business in 2024 and 17.3 billion KRW from the 2023 KBS drama 'The Matchmakers' indicates a 14 billion KRW increase in music sales compared to the previous year. The company has been improving its performance by reducing operating losses through budget and cost control since 2022. With a strengthened lineup of young artists, FNC anticipates realizing high-profit growth potential starting this year.

P1Harmony's recent mini-album, 'SAD SONG,' sold over 360,000 copies, an increase of 100,000 from its predecessor, and reached 16th on the US 'Billboard 200' chart. It was also selected as one of Billboard's '2024 Best K-pop Albums 25,' showcasing P1Harmony's growth. The upcoming album, set to release this year, is expected to see a significant increase in sales. Since their debut two years ago, P1Harmony's North American tour has expanded annually, reaching arena-level venues in four cities, including the Kia Forum in LA last year. This year, they plan to expand all North American tour venues to arena-level or larger to connect with more international fans.

Additionally, FNC is set to launch a new band, AxMxP, this year. Before their official debut, member Ha Yujun will star in the FNC-produced drama 'Spring of Four Seasons,' introducing the band to the public. The drama, a campus-based youth romance, is scheduled to air on SBS in the first half of the year and is directed by Kim Sung-yong, known for 'Lovers.' 'Spring of Four Seasons' is anticipated to be the next 'Run On,' garnering high interest even before its broadcast. Notably, at last year's SBS Drama Awards, Ha Yujun, Lee Seung-hyub, and the drama's band performed a congratulatory stage, leading to a surge in video views and AxMxP's social media followers, boosting popularity ahead of the drama's release.

N.Flying, with all members having completed their military service, will resume full group activities starting with the 'Awesome Stage' performance in Busan on the 2nd of next month. They are currently preparing for a comeback and plan to expand their concert scale and locations in celebration of their 10th anniversary this year. The rookie group Ampersand One, which debuted at the end of 2023, embarked on a 19-city North American tour within a year of their debut.

Kim Ji-won, Ten Asia Reporter one@tenasia.co.kr