HYBE breaks K-Pop industry record with 1 trillion won in annual sales – powered by BTS' PERMISSION TO DANCE ON STAGE - LA concerts

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HYBE breaks K-Pop industry record with 1 trillion won in annual sales – powered by BTS' PERMISSION TO DANCE ON STAGE - LA concerts

HYBE has broken records left and right, but this time they're at an all-time high.

The Korean company that houses the likes of global superstars BTS, Tomorrow X Together (TXT), SEVENTEEN, and more, surpassed 1 trillion won (approx. 838 million USD) in annual sales, becoming the first K-Pop management agency in history to do so.

In a regulatory filing last Tuesday (22/02), HYBE revealed its 2021 sales tentatively tallied at 1.25 trillion won, seeing a 58 percent rise compared to the previous year. The company's operating profit grew by 30.8 percent on-year to 190.3 billion won with a 62 percent net profit rise of an estimated 141 billion won.

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From the previous year, HYBE's album sales made a climb of 18 percent, racking in 378.5 billion won. Award-winning act BTS were the top contributors to HYBE's latest milestone, as their chart-topping GRAMMY-nominated single 'Butter' sold 7.4 million copies. On the other hand, SEVENTEEN sold 3.7 million copies, Tomorrow X Together sold 1.8 million copies, and ENHYPEN sold 2.2 million copies.

HYBE's 2021 acquisition of Ithaca Holdings has also paid off. Global pop superstars Ariana Grande and Justin Bieber sold 2.4 million and 2.35 million copies, respectively.

Despite the ongoing pandemic, HYBE has also seen a surge of 980.5 percent year-on-year to 49.7 billion won with 45.3 billion won coming from the fourth quarter. According to analysts, the surge comes thanks to BTS' 2021 Permission To Dance On Stage concert in Los Angeles, which drew over 210,000 fans.

PERMISSION TO DANCE ON STAGE concert in LA: A homecoming for BTS and ARMY

"The concerts generated 40 billion won in sales from offline events only," HYBE shared in a statement. "When sales from YouTube Theater and online streaming are included, (Hybe) recorded its biggest-ever sales."

According to the report, HYBE's fourth-quarter net income saw a rise of 106.1 percent to 53.8 billion won. Compared to last year's operating profits, the company's revenue rose by 48 percent to 459.8 billion won.

HYBE will soon be seeing an even bigger rise in their profits this year. BTS are scheduled to hold a three-night residency at Seoul's Olympic Stadium this March, followed by a four-day residency at the Allegiant Stadium in Las Vegas in April. The upcoming concerts will also be livestreamed via VenewLive.