Not that long ago, a little entertainment company by the name of YG Entertainment sought to release a silly music video called “Gangnam Style.” Fast-forward a few months after its supposedly innocuous debut, and YG Entertainment CEO Yang Hyun Suk‘s control of the viral sensation rapidly skyrocketed him to beast status in Korea’s entertainment industry. Blowing past his competition in the K-pop world, this once celebrity turned K-pop company mogul has just now become the richest star in the Korean stock market.
A few months before YG Entertainment idol Psy unleashed the “Gangnam Style” virus unto the masses, Yang Hyun Suk was much worse off than he is now. Of course no one foresaw the amount of popularity that “Gangnam Style” would receive, but long before Psy donned his trademark horse-dance, YG had crafted YG Entertainment into one of Korea’s “big three” entertainment companies. Home to mega idols like those of 2NE1 and Big Bang, YG Entertainment saw a completely different view of their profits just one month before “Gangnam” hit.
In June of this year, a sales report was released detailing the differences in quarter sales between the “big three” companies of K-pop: YG Entertainment, JYP Entertainment, and SM Entertainment. Back then, YG Entertainment was trailing SM Entertainment by about $15 million in quarter sales. Not only was this number less than YG had hoped, but it was a definite decrease in sales from 2011.
Want to know the numbers Papa YG is looking at now? Compared to the beginning of this year, where YG’s stocks measured around $117 million, YG’s shares have topped over $305 million since the end of September thanks to profits from the “Gangnam Style” surplus. That’s a stock increase of over 162%! Not only is YG currently number 49 on Korea’s stock wealth chart, but SM Entertainment leader Lee Soo Man currently trails way behind him at number 64!
Will YG keep the lead or do you predict an upset by another company before the end of the year?