The earnings for 2026 Q2 remained largely flat compared to Q1. 2026 Q2 revenue was KRW 183.1 BN, decreased by 15.1% year-over-year, and operating profit was KRW 31.0 BN, a 41.4% decrease year-over-year. Net profit decreased by 40.3% year-over-year to KRW 21.7 BN.
In 2025 Q2, as Stray Kids successfully completed 23 large-scale stadium shows in North America, Latin America, and Japan, operating leverage was fully reflected not just from concert revenue but also from the record-high quarterly MD sales. Due to last year’s high base, 2026 Q2 revenue decreased year-over-year despite strong sales of physical albums and streaming domestically and globally. Now, I will explain the revenue by segment in detail.
For the music segment, domestic and overseas streaming revenue increased from the expansion of the global mass fandom, and the strong sales of Stray Kids' catalogues continued both domestically and globally since their last tour. Physical album revenue recorded KRW 37.0 BN, an increase of 36.7% year-over-year. With the continuous expansion of Stray Kids' catalogue sales, they achieved one of their highest quarterly catalogue shipments of approximately 420,000 copies according to the Circle Chart's Monthly Top 100. As demonstrated by these catalogue shipments, Stray Kids continues to expand core fandom, building on the success of the previous tour even in their 9th year.
Also, in Q2, the number of new releases increased year-over-year, and a total of 5 new albums were released by ITZY, NMIXX, Xdinary Heroes, NEXZ, and KickFlip.
Streaming revenue recorded KRW 19.7 BN, a 71.6% increase year-over-year. Together with growth in domestic streaming, overseas streaming significantly contributed to overall growth, driven by an increase in our artists' mass fandom in the global music market. The effect of the YouTube revenue reclassification was also reflected.
MD revenue was KRW 43.9 BN, a 34.5% decrease year-over-year due to the high base effect, following strong MD sales from Stray Kids' large-scale Western concerts and online fan meetings in 2025 Q2. In this quarter, JYP Entertainment has continued to strategically advance the MD business. TWICE achieved successful tour MD sales across Japan, North America, and Europe, while hosting tour-linked city pop-ups in 9 major cities. Stray Kids' SKZOO character global pop-ups were held in Seoul and 4 North American cities including New York, Toronto, Chicago, and LA.
In Japan, Japanese concert MD sales for NiziU, NEXZ, and 2PM, as well as licensing revenue including collaborations with Bandai were reflected. Strategic MD business advancement will continue in H2 of the year. In addition to Blue Garage's Stray Kids fan meeting online MD and SKZOO X Sanrio collaboration, Stray Kids world tour-linked pop-ups in various major cities will be launched.
Management revenue declined year-over-year, primarily due to a reduction in the number of large-scale concerts.
Concert revenue recorded KRW 39.9 BN, a 35.7% decrease year-over-year, largely due to high base. This quarter reflected 23 shows from TWICE’s world tour across Japan, North America, and Europe, 11 shows of DAY6 group and solo concerts in both Korea and worldwide, 7 shows from ITZY’s Asia tour, and 6 shows from NMIXX’s North America/Asia tour, as well as Japanese concerts by NiziU, NEXZ, and 2PM.
Advertisement achieved KRW 13.6 BN, an increase of 20.5% year-over-year, driven by the rising popularity of our artists. Appearances recorded KRW 7.0 BN, a 28.0% decrease year-over-year. While this quarter reflected 2 fan meetings and ‘The Governors Ball Music Festival’ headliner appearances of Stray Kids, and ITZY’s ‘Mawazine Festival’ headliner appearances in Morocco, appearances revenue declined from the reduced number of fan concerts year-over-year.
Compared to Q2 2025, which was the quarter that recorded all-time high operating profit driven by global leverage from Stray Kids' Western tour and MD, this quarter’s profitability slowed down year-over-year due to limited leverage.
First, content production costs increased by 25.9% year-over-year to KRW 34.0 BN, reflecting expenses from new releases, catalogue sales, and digital singles, followed by expanded artists activities from both HQ and subsidiaries.
Artist fee decreased by 25.3% to KRW 48.1 BN, in line with the 27.2% year-over-year decline in management revenue.
Other expenses fell by 11.8% year-over-year to KRW 30.3 BN. Costs related to fan-reward events such as fan meetings and fan kits were included, but overall expenses were reduced due to the absence of large-scale online MD sales.
GPM was 38.7%, a decrease of 3.1%p year-over-year, and OPM decreased by 7.6%p to 16.9%.
Next, I will further outline Stray Kids’ global activity plans across albums, MD, and concerts, starting in H2 of this year, along with the expected earnings leverage momentum for 2027.
Stray Kids kicked off their global activities for H2 of the year with the mini album ‘THIS & THAT,’ released on August 7th. Regarding this new release, strong album sales driven by their solid core fandom are expected, with pre-order sales surpassing the previous album. Moreover, catalogue sales continue to expand both in Korea and worldwide, mainly in the U.S. and Europe, demonstrating the remarkable growth of their core fandom even in their 9th year.
For concerts, we have announced the first part of the new world tour <RUN IT> which includes 18 shows in 9 cities in Korea and Asia. Additional shows and regions including North America and Europe for next year will be announced, maximizing earnings leverage in 2027. In September, ‘STRAYCITY,’ a festival named after Stray Kids will be hosted with 5 shows across 3 cities in Latin America. Through ‘STRAYCITY,’ global fandom is expected to further expand based on a localized strategy optimized for the LATAM festival culture. Through the partnership with Live Nation as well as local LATAM artists’ appearances, ‘STRAYCITY’ will become another new growth catalyst for global fandom.
JYP Entertainment will continue to enhance MD business with Stray Kids IP from H2 of this year by launching tour-linked city pop-ups, expanding character pop-ups, and enhancing IP licensing business. Tour-linked pop-up stores in Japan will be operated for approximately 2 months starting in late August across Tokyo, Nagoya, Osaka, and Fukuoka. Through these tour-linked city pop-ups, momentum will be maximized in each city alongside the tour. SKZOO character pop-ups ongoing from Q2 are also planned in North America, Europe, Latin America, and Asia in H2. In addition, we will continue to expand collaborations with major global IP companies such as Sanrio, and strengthen localized MD and licensing in China through our strategic partnership with Xiaomang.
Next are key artists' activity plans and investment highlights.
JYP Entertainment will continue to drive organic growth through artist life-cycle aligned management and fandom strategy to achieve sustainable long-term growth. Furthermore, business fundamentals will be further solidified by expanding global leverage through large-scale albums, MD, and concerts.
DAY6 has solidified their position as the No.1 K-band by successfully completing their 10th-anniversary world tour <THE DECADE>. Following Wonpil, Young K is solidifying his solo career with his second regular album released in July. Young K has announced his solo world tour and demonstrated his ticket power by selling out all of his concerts in Korea. Starting with 3 shows at the Inspire Arena beginning on August 14th, this tour includes 7 Asian cities for a total of 9 shows.
TWICE successfully completed their world tour of 81 shows in 44 regions, including Asia, Oceania, North America, and Europe, this past July. The tour-linked city pop-ups were also concluded successfully. In Japan, tour-linked pop-up stores were held in major cities for approximately 3 weeks, proving their IP value even at the 11th anniversary since debut.
For Stray Kids, please refer to the highlights from the previous page.
ITZY released their mini album ‘Motto’ in May and is currently hosting a world tour, with a total of 19 shows in 15 cities including Asia and Europe. In June, ITZY successfully headlined the ‘Mawazine Festival’ in Morocco, and they continue diversifying their activities, with Yuna’s and Ryujin’s appearances in dramas and films.
NMIXX released their mini album ‘Heavy Serenade’ in May, further elevating their position as a global artist. The album ranked 3rd on Billboard ‘Best K-POP Albums of 2026 (First Half),’ and the song placed 5th on Billboard ‘Best K-POP Songs (First Half)’, which demonstrates NMIXX’s capabilities and future potential. They hosted their 1st world tour with 21 shows in 17 cities including North America, Europe, China regions, and Japan, and additional shows will be announced. They will make their official debut in Japan on December 9th and host a pre-debut showcase to actively capture the local fandom.
KickFlip released a mini album last April and achieved their own career-high records, while steadily building a strong core fandom. They also won ‘Ultimate 12’ at ‘KMA 2026.’
Next, I will explain the upcoming activity plans for our key overseas artists.
NiziU recently completed a dome tour with 4 concerts in Tokyo and Osaka in Japan. With the release of their best album in July, they continue to further strengthen their local core fandom.
NEXZ successfully completed their arena tour in Japan with 4 shows in Tokyo and Osaka following their EP release in June. After concluding a global showcase tour across 5 major Asian cities in July, they will release a global mini album in August, and further target a broader fandom by participating in the ‘STRAYCITY’ festival in Latin America and ‘Rock in Rio’ in Brazil this September.
CIIU released their 1st mini album in August and is actively engaging in local promotions. Recently, they are accelerating their activities with local advertisement appearances in China, performances at ‘2026 TIMA,’ and the 1st-anniversary fan meeting in August.
GIRLSET released their digital single ‘Chat’ in July and is currently conducting promotional activities across major North American cities, including New York, Chicago, Atlanta, Dallas, and LA. They were recently named to Billboard ‘21 Under 21’ list, demonstrating the brand potential of GIRLSET in the U.S. music market.
Next is the major albums and performances scheduled for 2026 Q3. On August 19th, OURBIRTHDAY, a 7-member girl group from our subsidiary INNIT Entertainment, is planned to make their official debut with the first single album, ‘Our Birthday.’ The detailed album and performance schedules disclosed in this slide are based on information currently released through official social accounts and the media, and are subject to change with future announcements.