HYBE hits KRW 360.9 billion in revenue for the first quarter of 2024

ESTIMATED 
HYBE hits KRW 360.9 billion in revenue for the first quarter of 2024

HYBE has achieved its latest milestone.

On 2 May (Thursday), the Seoul-based label, home to global pop icons BTS and Gen Z standouts TOMORROW X TOGETHER, announced that it has recorded KRW 360.9 billion in revenue thanks to an increase in music streams and successful performances by newly debuted artists. 

HYBE's latest achievement translates to a YoY decrease of 12% and KRW 14.4 billion in operation profit. With the initial cost that comes with debuting new artists TWS and ILLIT, HYBE continued to maintain a surplus trend. Despite the relatively low number of new releases from the label in the first quarter of 2024, HYBE's roster still managed to draw consistent streaming revenue, accounting for a comparable share of physical album sales.

Albums, concerts, and commercials accounted for KRW 217 billion, especially with SEVENTEEN, ENHYPEN, and &TEAM contributing with their remarkable concert sales. Merch, contents, and licensing IP raked in KRW 143.9 billion

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HYBE is looking forward to an improvement of more than 30% YoY in both revenue and operating profit from the second quarter of the year. Multiple artists are schedueld to make comebacks and kick off their world tours. In April, SEVENTEEN, TXT, and BOYNEXTDOOR released new albums, while ENHYPEN and NewJeans are scheduled to drop new material soon. BTS member Jin is also set to complete his military service this coming June. Additionally, KATSEYE will be making their debut this summer.