ATEEZ agency, will it be listed...KQ Entertainment, Mirae Asset to Join hands to pursue IPO
Apr 15, 2025
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Founded in 2013, KQ Entertainment is a comprehensive entertainment company that produces artists targeting global markets such as ATEEZ and Xikers. It rapidly expands its global fandom around the U.S. and Europe and is considered an emerging powerhouse amid the globalization trend of K-pop.
ATEEZ, in particular, first entered the main chart of Billboard in the U.S. in 2021 and then topped the same chart with its second full-length album in 2023. It topped the Billboard 200 chart for the second time with its 11th mini album released in November last year. Psycus also proved the global competitiveness of KQ Entertainment artists, posting two albums in the top 100 of the 'Billboards 200' chart within a year of their debut.
Along with this IP growth, KQ Entertainment has achieved remarkable earnings growth. It grew from 46.4 billion won in sales and 4.4 billion won in operating profit in 2022 to 65 billion won and 5.9 billion won in operating profit in 2023, and recorded 115.8 billion won in sales and 12.5 billion won in operating profit last year. In two years, sales and operating profit rose by about 150% and 184%. This growth stems from performance sales. Compared to the previous year, performance sales increased by about 240%, and the proportion of performance sales also rose from about 25% to about 49%.
ATEEZ, the flagship IP, is a K-pop boy group that debuted in 2018, and has recently successfully completed a world tour that began last year. Starting in Seoul, he visited all over Europe through Japan and North America and met with fans from all over the world.
In particular, 13 performances were held in 10 North American cities, attracting 200,000 audiences. In addition, he was the first K-pop boy group to appear at the largest music festival in the United States, 'Coachella Valley Music and Arts Festival', proving his popularity in North America. ATEEZ has proven its global influence in Europe as well. Since January this year, it has performed 14 times in nine countries.
London, Germany, and Berlin, England, have added performances thanks to the enthusiastic response from local fans. In particular, he proved himself to be a K-pop artist by performing a solo concert in Paris 'La Defense Arena', which can accommodate about 40,000 people with 'K-pop artists for the first time'.
It is also noteworthy that Psycus, who debuted in 2023, is doing so. Psychus is a K-pop boy group created by KQ Entertainment's new development system. It held its first world tour in October 2023, about six months after its debut. Until November, I visited two Japanese cities and six U.S. cities. Since January last year, he has visited seven European countries and two Australian cities, completing the European tour after the U.S. for the first time as a fifth-generation boy group.
Thanks to the performance of ATEEZ and Psykers, KQ Entertainment's performance growth is expected to continue. ATEEZ's new world tour will begin in July this year. In this world tour, stadium performances are planned in five North American cities. The stadium means the largest concert hall in terms of capacity. Psychus also plans to expand its global influence by embarking on a new world tour from May.
Kim Kyu-wook, CEO of KQ Entertainment, said, "We will create new growth engines by producing not only ATEEZ and Psycus but also various global artists through the listing." As Mirae Asset Securities has been selected as the CEO, we will thoroughly prepare for a successful listing" he said.
rightlight@sportschosun.com
