32

5

News
Posted by Minsoo-Kim 2 hours ago 2,084

HYBE reports 25% drop in Q3 operating profit; expects 2 trillion won in annual revenue

AKP STAFF

HYBE reports Q3 operating profit decline and focuses on continued growth through artist activities

HYBE announced on November 5th KST that its consolidated operating profit for Q3 dropped by 25.4% to 54.2 billion KRW compared to the same period last year.

Sales reached 527.8 billion KRW, down by 1.9% year-on-year, with net profit shrinking by 98.6% to 1.4 billion KRW.

Of the 527.8 billion KRW in Q3 sales, direct participation sales from albums, concerts, and advertising reached 323 billion KRW, with album/music and concert revenue falling by 18.8% and 14.8%, respectively. Indirect participation sales, including MD and licensing, content, and fan club revenue, rose 31.8% year-on-year to 204.9 billion KRW.

HYBE also saw notable achievements, such as their new global girl group KATSEYE debuting their album SIS on the Billboard 200 for two consecutive weeks.

HYBE’s fan platform, Weverse, recorded 9.7 million monthly active users (MAU), an increase of approximately 100,000 from the previous quarter, though a decrease of around 900,000 year-on-year.

With cumulative sales reaching 1.5292 trillion KRW for the first three quarters, HYBE expects to achieve its annual sales goal of 2 trillion KRW for the second consecutive year.

In Q4, HYBE plans various artist activities, including BTS’s Jin, who will release his first solo album 'Happy' on November 15th. SEVENTEEN, who returned in October with their 12th mini album, will continue their world tour into early next year.


SEE ALSO: Employees accused of insider trading and selling HYBE stock before BTS's hiatus say they didn't know it was "undisclosed information"

Shop the story
BTS JIN : VOGUE October 2024
$25
SEVENTEEN S.COUPS & HOSHI Cover : Allure September 2024
$25
SEVENTEEN Official Light Stick Ver.3 Keyring
$35
BTS JIN Cover - W Magazine August 2024
$24
SEVENTEEN JEONGHAN & WONWOO Cover : Allure June 2024
$24
Official SEVENTEEN Lightstick ver. 3
$69
SEVENTEEN JOSHUA Cover - ARENA HOMME April 2024
$23
SEVENTEEN - NANA TOUR with SEVENTEEN 2024 MOMENT PACKAGE
$38
Seventeen Official Lightstick Ver.3
$69
  1. BTS
  2. Jin
  3. Seventeen
2,084 Share 86% Upvoted

allkpop in your Inbox

THE TOP 10 STORIES DELIVERED DAILY
Fin.K.L, Ock Joo Hyun, Kang Ho Dong
BLACKPINK, Rosé
Ningning, Giselle, Jisoo, Rosé, Kim Ji Won, Anton, Jihyo
Jay Park, Jung Ho Yeon, NewJeans, Danielle, Hanni, Minji, 2NE1, CL
Kian84
April, Naeun
Ahn Jae Hyun, Goo Hye Sun
Yoo Ah In
ATEEZ, BTS, EPEX, Stray Kids, TXT
BTS, Jin, Seventeen
BLACKPINK, Rosé
BTS, Jin, Seventeen
Jay Park, Jung Ho Yeon, NewJeans, Danielle, Hanni, Minji, 2NE1, CL
Fin.K.L, Ock Joo Hyun, Kang Ho Dong
NCT, Jaehyun
New Message

SEND