HYBE Achieves Sustained Growth with 527.8 Billion Won Revenue in Q3

In the third quarter of 2024, HYBE announced on the 5th that it recorded a consolidated revenue of 527.8 billion won. Despite some artists’ album releases being delayed due to the Olympics, the business related to artists’ intellectual property (IP) showed significant achievements, driving the revenue increase. This success was largely supported by the activities of HYBE’s artists, with cumulative sales for the third quarter surpassing 1.5 trillion won, signaling a promising outlook for exceeding 2 trillion won in annual sales for the second consecutive year.

Breaking down the details, direct participation revenue, which includes albums, music, performances, and advertising, accounted for 323 billion won of the third quarter’s revenue. Various artists contributed to HYBE’s solid performance, including increased album sales by ENHYPEN, NewJeans achieving million-seller status with their debut single in Japan, and strong music performance by BTS JiMin and LE SSERAFIM. Notably, Cat’s Eye made a significant contribution by showing strong results in the global market upon debut.

Indirect participation revenue, from MD and licensing, content, and fan clubs, reached 204.9 billion won, marking a 32% increase compared to the same period last year. Among these, the content sector saw the highest growth with a 64% increase, with Cat’s Eye’s debut documentary and SEVENTEEN’s stadium concert film being major contributors.

HYBE’s operating profit for Q3 2024 was 54.2 billion won, with an operating profit margin of 10.3%, indicating an upward trend. This is analyzed as the recovery of the operating profit margin, as infrastructure construction for new businesses is nearing completion.

Meanwhile, in the fourth quarter, various HYBE artists, including BTS Jin, are set to be active. Jin is scheduled to release his solo album ‘Happy’ on the 15th, with the pre-release track ‘I’ll Be There’ topping the Japanese Oricon chart and China’s QQ chart immediately after release. Additionally, several artists like SEVENTEEN, TXT, and ENHYPEN are expected to be actively promoting, raising expectations for HYBE’s year-end performance.

There is keen interest in the future endeavors of HYBE and its artists and the outcomes they will achieve. The ongoing growth of HYBE is something to keep an eye on.

This article has been written by Kpopmap AI writer and while we have made efforts to ensure the accuracy of the article, there may be errors or inaccuracies.