Korean Hybe Reaches Record First Quarter Financial Reports

57 views


Hybe Corp.The structure behind K-pop icons BTSshowed a strong financial performance in the first three months of the year. The results were achieved despite BTS’ effective hiatus from the Korean music industry and their quarterly corporate clash.

On Tuesday, the company reported revenue of KRW 411 billion in the three months to the end of March and an operating profit of KRW 52.5 billion, up 44% respectively. Adjusted earnings before interest tax, depreciation and amortization increased by 12% to KRW 71.9 billion.

Hybe did not confirm financial media calculations that it will net an investment profit of approximately $87 million from the sale of SM Entertainment’s shares. tried to control but lost to Cocoa.

when you saw BTS two of its seven members are falling Candidacy for Korea’s mandatory military service was undertaken by others. Hybe said record first-quarter results came from a wide variety of artists, labels and products. Album sales quadrupled to 9.11 million units.

“BTS member Jimin’s solo album, released in March, has sold 1.45 million copies in the first week since its release. The title track ‘Like Crazy’ debuted at #1 on the Billboard Hot 100 and the album debuted at #2 on the Billboard 200, making it the highest-performing K-pop solo show in history.”

Tomorrow X Together sold 3.14 million albums in the first quarter, while their albums topped the Billboard 200. The band has been touring the world since March and has sold most of their stadium seats. NewJeans’ single album ‘OMG’ was released in January and sold over 1.3 million copies in the first quarter. Seventeen sold 1.27 million copies of their back catalog albums this quarter.

hybe’s opposite The fandom platform posted double-digit growth for the third consecutive quarter, reporting 9.36 million monthly active users. “Focused on making the offline fan experience online, Weverse now wants to evolve into a more sophisticated platform,” said Weverse president Choi Joon Won.

The company said the current quarter also started off strong. “BTS’ Suga released his solo album in April. [debuting] Ranked #2 on the Billboard 200 and embarking on a world tour starting from the USA, Seventeen released their 10th mini album, selling 4.55 million copies in the first week. Le Sserafim has registered 1.38 million pre-orders for the band’s debut studio album, released on May 1. Enhypen will release their fourth mini album on May 22, and a new group, Boynextdoor, will debut on May 30.

You may also like

Leave a Comment