Thanks To (G)I-DLE, Cube Entertainment Surpassed Last Year's Sales

Cube Entertainment surpassed last year's sales in the third quarter of this year.

Cube announced on the 11th that it achieved a cumulative sales of 79.6 billion won and cumulative operating profit of 4.2 billion won in the third quarter of this year. Compared to the cumulative performance of the same period last year, it increased by 50% and 23%, respectively. The number is up about 10% from the record-high 72 billion won recorded last year.

Sales rose 40% year-on-year. This is because sales of advertisements, events, and products have increased along with the success of their flagship group (G)I-DLE.

An official from Cube explained, "The aftermath of the success of the title song "TOMBOY" of their first full-length album "I NEVER DIE" released in March continued until the third quarter, and music sales rose about 30% compared to the same period last year."

The initial sales volume of the 5th mini-album "I love" released last month (a week's album sales based on the release date) also helped with a 280% increase from the previous work (176,000 copies → 687,000 copies).

In addition, advertising sales rose 142% and 132%, respectively, compared to the previous quarter and the same period last year.

In addition, offline performances, which were impossible due to the COVID-19 pandemic, resumed this year, and they will actively participate in (G)I-DLE's world tour (18 cities), PENTAGON's Tokyo concert, K-CON, and university events. As a result, event sales also rose 175% and 1350%, respectively, from the previous quarter and the same period last year, showing signs of recovery to the level before the pandemic.

On the other hand, operating profit decreased by 15% compared to the same period last year. Cube explained, "Operational profit fell due to increased sales costs of products from overseas subsidiaries due to rising outsourcing costs such as album production costs and music video filming, and rising international oil and material costs."

Cube will launch a rookie boy group in the first half of next year.

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