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HYBE has made headlines in the entertainment industry by surpassing 2 trillion KRW in annual revenue for the second consecutive year. In 2024, the company achieved 2.25 trillion KRW, reflecting a 4% increase from the previous year. While BTS members are on military duty, other artists under the label have made significant contributions. However, operating profits decreased due to changes in revenue distribution and rising development costs.
HYBE’s Revenue Growth
In terms of sales, direct participation revenue fell by 1.8% to 1.44 trillion KRW. In contrast, indirect participation revenue rose by 14.5%, totaling 809.3 billion KRW. Although album sales dropped by 11.3%, concert revenues surged by 25.6%, helping to offset these losses. HYBE’s domestic artists made notable gains in the Circle Chart, increasing their market share from 38% to 40%. Notably, SEVENTEEN has sold over 10 million albums for two consecutive years, marking a remarkable achievement.
Impact of BTS Members’ Military Service
The streaming landscape is equally impressive. HYBE artists secured 15 songs in the top 20 of the global K-pop chart, showcasing their competitiveness. Solo tracks from BTS members and hits from groups like LE SSERAFIM have also made waves on Billboard’s Hot 100.
SEVENTEEN’s Album Sales Success
Concert revenue has reached new heights. HYBE Music Group artists held 147 concerts and 25 fan meetings, generating record-breaking revenue. SEVENTEEN, ENHYPEN, and Tomorrow X Together dominated the Billboard K-pop concert revenue chart, underscoring their immense popularity.
Moreover, HYBE’s indirect revenue streams, especially in merchandise sales, flourished. Merchandise and licensing segments saw a 29.1% increase, driven by concert-related merchandise and popular character products inspired by group members.
HYBE America and Future Projections
In the U.S., HYBE America celebrated success with its artists topping 10 Billboard charts, including notable nominations and achievements. Lil Baby’s recent chart-topping albums exemplify this success. However, the operating profit for 2024 is projected at 184.8 billion KRW, reflecting a 38% decrease from the previous year. This decline is primarily due to BTS’s military service and the introduction of new groups affecting revenue distribution.
Looking ahead, HYBE anticipates improved profitability with BTS’s eventual return. The company aims for balanced growth across its artist roster and strategic investments in artist management and new markets. They are actively exploring expansion opportunities in the U.S., Japan, and Latin America, adopting a ‘multi-home, multi-genre’ strategy to integrate K-pop systems with local cultures.
Investments in Digital and Gaming Initiatives
Additionally, HYBE is investing in digital and gaming initiatives. Plans for new digital membership services and gaming titles are underway. This includes developing AI audio technologies and mobile games, expected to diversify and enhance revenue streams.
Overall, HYBE navigates industry challenges while effectively leveraging its diverse artist lineup. The company is expanding its footprint in new markets and digital domains, positioning itself for continued success in the ever-evolving entertainment landscape.
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.
English (US) · 