HYBE Surpasses 527.8 Billion Won in Q3 2024 Revenue, Sustaining Growth

HYBE announced that it recorded 527.8 billion won in revenue for the third quarter of 2024 on a consolidated basis. This achievement is attributed to the active activities of artists under HYBE Music Group, with cumulative sales exceeding 1.5 trillion won for this year’s third quarter. These results increase the possibility of achieving an annual revenue of 2 trillion won for the second consecutive year following last year.

In this quarter, album sales for ENHYPEN and BOYNEXTDOOR significantly increased, and NewJeans’ debut single in Japan became a million-seller, showcasing the remarkable achievements of various artists. BTS JiMin and LE SSERAFIM also recorded outstanding music results, and KATSEYE made an impressive debut in the global market, contributing to record sales.

Indirect participation revenue, including MD, licensing, content, and fan club activities, totaled 204.9 billion won, marking a 32% increase compared to the same period last year. Notably, in the content sector, a documentary covering KATSEYE’s debut process and SEVENTEEN’s stadium concert film contributed significantly to the revenue increase.

In the third quarter of 2024, HYBE’s operating profit was 54.2 billion won, with an operating profit margin in the 10% range. This is a steady increase from 4% in the first quarter and 7.9% in the second quarter, attributed to the completion of initial infrastructure for new business development.

In the fourth quarter, various artists, including the release of BTS Jin’s first solo album ‘Happy’, are expected to be active. SEVENTEEN continues their world tour, and TXT is preparing for an encore concert. ENHYPEN will meet fans with a repackaged album, LE SSERAFIM with a Japanese single release, and BOYNEXTDOOR with their first tour. ILLIT is showing further growth, reaching second place in the Oricon weekly album rankings in Japan.

There is growing anticipation for the future activities of HYBE’s diverse artists on domestic and international stages.

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.