FNC Entertainment’s Q1 Album Sales Surge, Exceeding 60% of Last Year’s Annual Sales

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FNC Entertainment announced on the 14th that their consolidated performance for the first quarter of 2024 shows a significant boost in album sales.

According to their statement on the 16th, the company achieved KRW 18.4 billion in consolidated sales and faced an operating loss of KRW 1.5 billion. This performance mirrors the previous year’s results; however, revenue from P1Harmony’s U.S. tour was recognized in Q1 2023, while profits from rookie artists were included in Q1 2024. Factoring in the investment for the group Ampersand One, the actual profit situation appears improved.

In Q1 2024, releases from SF9, P1Harmony, and Ampers&One drove album sales to exceed 60% of the total annual sales for the previous year within just one quarter. Additionally, tours by FT Island, CNBLUE, and N.Flying across Japan and Asia boosted performance sales, leading to a better outcome compared to the previous year in their primary music business.

Despite the temporary boost from an audition program production sale last year, actual sales increased compared to the same period. Looking ahead to the second quarter, CNBLUE’s Asia tour continues until May, while P1Harmony will kick off an American tour across 11 North American cities, including Houston, Dallas, and Chicago, from April to June. The tour has expanded in scale, including performances at LA’s Kia Forum, with ticket sales already surpassing 140% of the previous U.S. tour’s size.

P1Harmony, experiencing rapid growth, is set to make their debut as a K-pop boy group at ‘The Governor’s Ball Music Festival’ in the U.S., sharing the stage with headliners like Post Malone and The Killers. Their appearance at this and other major overseas festivals is solidifying their international presence.

In the latter half of the year, FNC’s singer lineup is gearing up for more album releases and performances. FT Island and CNBLUE will continue their activities at various festivals and concerts in Korea, Asia, and Japan. N.Flying plans to deliver energetic performances at concerts and festivals, with leader Seunghyeop Lee pursuing diverse activities including acting and music, following his success in the tvN drama ‘Seonjae and Jump.’

SF9 will maintain unit activities during some members’ military service, with plans to release albums and hold performances in Korea and Japan. P1Harmony is scheduled for tours in Australia, New Zealand, Asia, and Japan. Additionally, actor Jung Hae In will connect with audiences in the second half of the year through the film Veteran 2 and the new tvN drama ‘Mom’s Friend’s Son,’ both highly anticipated releases.

Source: joynews24