HYBE posts record quarterly results as BTS tour lifts revenue
K-pop giant HYBE reported record third-quarter revenue and operating profit Tuesday, propelled by BTS' ongoing world tour, putting it on track to become the first K-pop agency to surpass 4 trillion won ($2.98 billion) in annual revenue. According to its regulatory filing, the company's preliminary revenue for the July–September period jumped 109.8 percent year-on-year to 1.53 trillion won on a…
HYBE, the leading K-pop agency, unveiled record-breaking third-quarter earnings on Tuesday, driven by the ongoing global tour of supergroup BTS. The company's preliminary revenue for July to September surged by an impressive 109.8 percent year-on-year, reaching 1.53 trillion won, a testament to BTS's world tour's success. Operating profit rebounded to 188.5 billion won, from a loss of 42.2 billion won a year ago, while net profit turned positive at 11.3 billion won.
These figures represent the highest quarterly results in HYBE's history, surpassing previous records set during BTS's Arirang tour. Notably, the operating profit exceeded market expectations by 13.6 percent. Concert sales emerged as the primary catalyst for this stellar performance.
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