On the 3rd, entertainment stocks are showing a strong trend together. It is interpreted that in addition to the good news for individual events, expectations for the lifting of Chinese Han-Korean dominance have been added.
Starting at 10:39 the same day, YG Plus (
) is trading at 4960 won, up 275 won (5.87%) from the previous day. (3.54%), (3.12%) and (0.89%) are all showing strength.
At the same time, exchange-traded funds (ETFs) containing media and entertainment-related stocks such as HANARO Fn K-POP & Media (1.57%) and TIGER Media Contents (0.75%) were also strong.
Positive news on individual stocks appears to have boosted investor sentiment across the sector.
First off, in the case of the Hive, news broke that their group, New Jeans, dominated the album and music charts simultaneously with their comeback. According to the industry, New Jeans’ first single “OMG” topped the daily album chart of Hanteo Chart on the 2nd release date. The title song, OMZ, took the first place in the national music sites real-time charts, and the b-side song “Ditto” took the second place, respectively.
New Jeans’ single “OMG” sold over 480,000 copies on the first day of its release. This is a record that also surpasses the first week sales (310,000 copies) of debut album ‘New Jeans’, which was a new record by Initial Chodong for the debut album of a girl group.
Also, in the case of YG Entertainment, sister group BLACKPINK recorded a music video with over 100 million views.
On this day, YG Entertainment announced that the music video for the title song “Shut Down” from BLACKPINK’s second regular album has surpassed 300 million views on YouTube. It’s been about 110 days since it was released on September 16 last year.
On the other hand, good news is spreading throughout the industry. An analysis of the stock market has shown that the anticipation of the lifting of the Han-Korean law in China is reflected not only in games and dramas, but also in the entertainment industry.
Lee Hye-in, researcher at Yuanta Securities, said, “Chinese instruments are estimated to account for a significant part of the recent surge in album sales by entertainment companies, and the number of Chinese consumers is steadily increasing regardless of Korean – Korean restriction.” We believe that all four companies can generate additional sales in terms of operating and asset sales (planned products).”
Shin Min-kyung, Hankyung.com reporter [email protected]
