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SM Entertainment Revenue Up 5% on Gains in Music and Concerts, Including Tours by NCT 127 & aespa

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Growth in music and concert revenue pushed K-pop company SM Entertainment’s consolidated revenue to 231.4 billion KRW ($159 million), up 5.2% from the prior-year period. Operating profit of 32.6 billion KRW ($22 million) was up 109.6% while operating margin improved to 32.6% from 15.5%. 

SM’s concert revenue grew 58.0% to 39 billion KRW ($27 million) on the strength of tours by NCT 127, aespa, TVXQ and Minho. Merchandise and licensing rose 9.4% and appearances slipped 12.3%. 

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04/29/2025

Recorded music revenue increased 23.1% despite fewer big releases than in the prior-year period. Hearts2Hearts’ debut single, “The Chase,” was released on February 24 and sold 420,000 copies in its first week.

Revenue at SM Entertainment’s subsidiaries fell 16.8% to 104.5 billion KRW ($72 million). Stream Media Corporation, which manages SM-affiliated artists in Japan, fell 23.9% due to fewer concerts in the country. SM Culture & Contents declined 26.1% from a continued decline in advertising revenue. Management agency KeyEast sank 82.3% due to fewer dramas being aired. The lone increase came from live events company Dream Maker Entertainment, which credited an expansion of concerts, including SMTOWN LIVE, for its 78.1% jump in revenue. 

As K-pop returns to China after nearly a decade of restrictions, DearU, a messaging platform that connects artists and fans, recently signed a strategic partnership with China’s Tencent Music Entertainment and will soon launch its Bubble platform in the country. During the earnings call, CEO Cheol-hyuk Jang called it “a critical turning point in expanding K-pop artist fan experiences” within one of K-pop’s largest markets. Additionally, SM artists made forays into China in the second quarter: NCT Ten performed a solo show in Macau, and WayV appeared at the Strawberry Music Festival. 

SM released a mini-album by NCT WISH in April and, looking ahead, it’s set to release a full album by RIIZE in the second quarter. Full albums by BoA, Super Junior and NCT Dream and mini-albums by aespa, NCT Wish and Hearts2Hearts are slated for the third quarter. 

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Entertainment

Luke Combs Was Once Forced to Choose Between Music & A College Frat: ‘I Made the Right Choice’

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With his stadium-packing shows and massive hits including “Beautiful Crazy,” “When It Rains It Pours” and his rendition of Tracy Chapman’s “Fast Car,” it may seem obvious that music has been Luke Combs‘ passion his whole life.

But even as a sophomore at Appalachian University in Boone, North Carolina, Combs was already having to make tough choices when it came to following that passion.

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During a recent episode of The Dog Walk With Eddie, Combs recalled that he had rushed at Kappa Alpha Order, but was quickly forced to make a decision between the fraternity and music, due to a scheduling conflict in which the frat’s “Big Brother” reveal was the same night as his a cappella group’s concert.

“On Big Brother reveal night we had a concert for the a cappella group, the same night that was gonna be at the same time,” he said, adding that he was “already kind of over” the process of pledging for a fraternity.

“Why does anyone really join a fraternity? To go to parties and meet chicks is kind of the deal, right?” Combs said. “So I tell the guys, ‘Hey, I really gotta do this concert tonight.’ Because there’s only like 12 people in the group; it’s not like there’s a thousand guys in the a cappella group. I’m like, ‘Your boy’s got solos. I can’t just not go,’ [but] they were like, ‘You’re either doing this or that.'”

When he was forced by his potential fraternity brothers to choose, it seems his decision was quickly made.

“I was like, ‘Well, I’m doing that, dude. I’m out,’” Combs said. Reflecting on it, he said, “It was tough, but I made the right choice. … I ended up here … but I would have loved to do both. … There was no wiggle room.”

Though he added in the interview that he held “no hard feelings” after having made the decision, he noted, “I was just like, ‘I kind of already sing and I’m already kinda good at that. All I’m doing with you guys is paying to be your friend, which I already have a lot of friends anyways.’ It just didn’t line up.”

Of course, pursuing music has paid off for Combs. He just released his new song “Back in the Saddle,” and has had three top 10 hits on the all-genre Billboard Hot 100 (so far). Four of his albums have reached the pinnacle of the Top Country Albums chart, while he’s garnered 18 No. 1 Country Airplay hits. After spearheading his Growin’ Up and Gettin’ Old Tour, Combs is playing shows in 2025 including Austin City Limits Music Festival in Austin, and his own Bootleggers Bonfire event, slated for October.

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Teyana Taylor to Undergo Vocal Cord Surgery After Noncancerous Growth Discovered: ‘This Moment Hurts’

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Teyana Taylor revealed on Wednesday (Aug. 6) that she’ll be undergoing emergency surgery after a noncancerous growth was discovered on her vocal cords.

The rapper-actress shared the health update to her Instagram Story, but promised that while she’ll need to cancel some upcoming appearances, like an upcoming podcast with Michelle Obama, her Escape Room album rollout is going to continue with the project scheduled to arrive on Aug. 22.

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“I’ve been quietly dealing with some vocal challenges for a while now. And after a lot of back and forth with my doctors, I’ve been told I need vocal surgery immediately,” she wrote. “They found a noncancerous growth on one of my cords that’s been messing with my voice and causing real discomfort. Thankfully, we caught it & it’s treatable—but it does mean I need to pause and give myself time to fully heal.”

The 34-year-old continued: “That honestly breaks my heart. I don’t take lightly what it means to show up for y’all. I’ve poured so much of myself into this next chapter—especially the Escape Room, which is still dropping August 22! So no worries there. It’s the most personal body of work I’ve ever created. and the timing… it’s not lost on me. Just as I was getting ready to finally share this with you, life handed me my own unexpected ‘escape room’—one I didn’t ask for, but one I now have to find my way out of with patience, rest, and faith.”

Even amid the health battle, Taylor says she put her “whole heart into this music, this film, this rollout. And when I return, it’ll be with even more fire, more purpose, and the best version of me. Thank you for rocking with me through it all.”

Escape Room is set to boast 22 tracks, including her previously released “Bed of Roses” and “Long Time” singles and skits from Issa Rae and Lala Anthony.

The project serves as Spike Tee’s first LP since 2020’s The Album, which reached No. 8 on the Billboard 200 and No. 6 on Top R&B/Hip-Hop Albums.

2025 is shaping up to be another busy campaign for the Harlem native, who is starring in Paul Thomas Anderson’s One Battle After Another film alongside Leonardo DiCaprio and Sean Penn, due out later this year.

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An Oral History of Pink Slip’s ‘Freakier Friday’ Reunion: Where Are Lindsay Lohan & The Rest of the ‘Girls in the Garage’ Now?

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One of the most beloved bands of the early 2000s wasn’t even a real band.

When the Lindsay Lohan and Jamie Lee Curtis-starring Freaky Friday remake premiered in 2003, moviegoers were introduced to the teen garage band Pink Slip, led by Lohan’s Anna and her two besties Maddie (Christina Vidal) and Peg (Haley Hudson). Their song “Take Me Away” — originally released by Australian alt-punk band Lash in 2001 — was introduced in the film during a garage rehearsal, before Pink Slip takes the House of Blues stage for their big Wango Tango audition and Lohan and Curtis’ body-swap switch-back.

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Now, Pink Slip and “Take Me Away” are back in Freakier Friday, Disney’s 23-years-in-the-making sequel that hits theaters on Friday. This time around, Lohan’s Anna is still pals with Maddie and Peg, but she’s left Pink Slip behind to focus on her life as a mom to Harper (Julia Butters) and music manager to gen Z pop superstar Ella (Maitreyi Ramakrishnan). But the band finds its way back together in the film, starting with Anna’s karaoke-fueled bachelorette party and concluding, once again, on a big Los Angeles stage, this time upgrading to The Wiltern for the musical grande finale.

Ahead of the sequel’s release, Billboard caught up with the three women behind Pink Slip — Lohan, Vidal and Hudson — as well as film producer Kristin Burr (credited with reuniting all five of the original Pink Slip bandmates for Freakier Friday) and music producer Suzy Shinn (who channeled her previous work with pop/rock heavyweights like Weezer, Panic! at the Disco, Fall Out Boy and Katy Perry into a revamped recording of “Take Me Away” and three different versions of brand-new song “Baby,” a centerpiece of the movie’s new mother-daughter storyline between Lohan and Butters).

Below, find Billboard‘s oral history of the epic Pink Slip reunion for Freakier Friday.

–Additional reporting by Lyndsey Havens

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