HYBE becomes first Korean entertainment company to achieve 1 trillion won in annual revenue in history
HYBE, the parent company of Big Hit Music, to which the group BTS belongs, surpassed 1 trillion won in annual sales for the first time among K-pop agencies.
HYBE announced on February 22nd that its annual sales stood at 1.2577 trillion won last year.
It grew 58% compared to the previous year, and HYBE is the first company among K-pop agencies to have annual sales exceeding 1 trillion won.
Operating profit rose 30.8% to 190.3 billion won and net profit rose 62% to 141 billion won.
Album sales increased 18% to 378.5 billion won.
HYBE sold 7.4 million copies of BTS’s albums, 3.7 million copies of Seventeen’s, 1.8 million copies of TOMORROW X TOGETHER’s, 2.2 million copies of ENHYPEN’s. Under the management of Ithaca Holdings, which HYBE acquired last year, Ariana Grande sold 2.4 million copies and Justin Bieber 2.35 million copies.
HYBE announced, “Out of 52 weeks last year, HYBE’s artists topped the Billboard main single chart ‘Hot 100’ for 22 weeks, nearly half of the time.”
Concert ticket sales soared 10 times to 49.7 billion won.
Most of them, 45.3 billion won, occurred in the fourth quarter, thanks to the success of BTS’s concerts in Los Angeles, USA, attracting more than 210,000 on-site audiences from November to December last year.
In addition, sales of advertising, investment, and management increased by 115.3% to 100.7 billion won and sales of contents increased by 176.6% to 365.9 billion won.
