Stray Kids Saves the Day: A Look at K-Pop's Third-Quarter Struggles

K-pop's big players, Hybe, SM, and YG, saw their profits dip in the third quarter this year. Why? Well, album sales are down, and superstars like BTS and Blackpink are taking a break. BTS members are serving their military time, and Blackpink won't be back until 2025. Streaming money isn't making up for the loss from album sales either. Even the stocks of these companies have taken a hit, with drops ranging from 10% to 43%. Hybe, the biggest K-pop company, didn't say why their earnings were low. But an analyst noted that sales shrank because there weren't many artists active during the Olympics, and costs went up with the launch of a new U. S. group, KATSEYE.SM Entertainment blamed their lower revenue on fewer album sales and higher production costs for a new show. YG Entertainment had an operating loss because not many of their artists were active. Only a rookie group, Babymonster, and a solo artist, Lee Seunghoon, released new music. But there was a silver lining. JYP Entertainment did great, thanks to Stray Kids. The boy group's world tour in the second half of 2024 helped JYP make a big comeback. Is this a sign of better times ahead? Maybe.