SM Entertainment to debut RIIZE’s sister group this year

SM Entertainment recently revealed its performance report and future plans for its current active K-Pop groups. 

© SM Entertainment

SM Entertainment shared that in the first quarter of the year, the entertainment label gained an operating profit of 15.5 billion Korean won (approximately $11.3 million), net income of 12.4 billion Korean won (approximately $9 million), and sales of 220.1 billion Korean won (approximately $161 million).  

The entertainment label is home to top K-pop groups such as TVXQ, Super Junior, Girls Generation, SHINee, EXO, Red Velvet, NCT, aespa, RIIZE, and more. 

In the first quarter of 2024, SM Entertainment sold over 2.76 million albums alongside NCT Dream’s album sales such as 2.46 million albums. 

© SM Entertainment

The subsidiary company of SM Entertainment, KEYEAST, also shared that their operating profit for the first quarter was 700 million Korean won. The albums sold and the drama production’s profit makes the overall profit of SM Entertainment’s first quarter. 

SM Entertainment plans on releasing consecutive music from their different groups in the next three quarters. In the third quarter of the year, the entertainment label will release full albums for NCT 127 and Girls Generation’s Taeyeon, solo mini albums for SHINee's Key, EXO's Chanyeol, Red Velvet's Irene, NCT's Jaehyun, and their newest group NCT Wish. The entertainment label also revealed that their very first virtual star nævis will finally make her official debut in the third quarter. 

In the last quarter of 2024, SM Entertainment plans to launch two new groups. First is their new girl group which was labeled as RIIZE’s sister group and another boy group that is based in the UK. The boy group will be co-created by SM Entertainment and MOON&BACK.

Many are already anticipating SM Entertainment’s new girl group. The last girl group that was launched by the entertainment label was aespa in 2020.

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