035900 KR · JYP Ent.MW GOBLIN RESEARCH
JYP Ent.: Tour Sustainability After Merchandise Growth
Analysis date
Published
Neutral at 46,000 KRW. Monetization of albums and merchandise has improved, but whether next year's tour recovery will translate into long-term growth remains uncertain. Given potential activity hiatuses for key groups and headquarters spending, it is difficult to conclude that the stock is undervalued.
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Read the full reportWhat this report covers
- Albums and merchandise offset the decline in concerts
- Distinguish the 2027 recovery from longer-term hiatuses
- Cash capacity must be assessed alongside headquarters investment