“ATIZ and CYCUS stocks are coming out” KQ, Mirae Asset join hands to promote IPO
KQ Entertainment, the agency that houses the groups ATEEZ(left)and CYCUS, is pushing for IPO(initial public offering).KQ Entertainment announced on the 15th that it signed IPO management contract with Mirae Asset Securities with the goal of listing on the stock market next year.Photo courtesy of KQ Entertainment
“ATEEZ stocks are coming out.”
KQ Entertainment, the agency that houses groups ATEEZ and CYKUS, is pushing for IPO(initial public offering).KQ Entertainment announced on the 15th that it signed IPO lead management contract with Mirae Asset Securities with the goal of listing on the stock market next year.
Founded in 2013, KQ Entertainment(CEO Kim Kyu-wook, KQ)is a planning company that houses ‘representative idol groups of each generation’ such as ATEEZ, a true K -pop top tier, and XIKERS, which has shown rapid growth in its third year since its debut.The two groups are key factors in the valuation that will determine the success or failure of KQ’s IPO, and have proven their value with explosive growth in figures such as annual sales and operating profit.
According to the Financial Supervisory Service’s electronic disclosure system DART, KQ Entertainment posted sales of KRW 115.8 billion and operating profit of KRW 12.5 billion last year.Compared to 2022, when it posted annual sales of KRW 46.4 billion and operating profit of KRW 4.4 billion, it has grown by more than 150% in terms of sales and 184% in terms of operating profit.
In the process, KQ also attracted attention by highlighting the unrivaled positions of its two groups, ATEEZ and CYKUS, as “new performance powerhouses” as a basis for future growth.Specifically, KQ explained that compared to 2023, “performance sales increased by 240% last year, and the proportion also increased from 25% to 49%.”
Considering that the growth engine of the global popular music industry lies in ‘fandom’ and that the so-called essence of fandom business is rooted in ‘performance’, this can be interpreted as a passage strongly appealing that the future of the two groups, ATEEZ and Psychus, the ‘KQ duo’, is ‘sustainable upward trend’.
In fact, ATEEZ and CYKERS have recently announced large-scale world tours within the year.ATEEZ will begin their tour in July with stadium performances in 5 cities across North America, while CYKERS will begin their overseas tour in May.
Reporter Heo Min- mignon@donga.com
This article is automatically translated using Google AI. If you notice any inaccuracies, please let us know at allkstar@donga.com.
