HYBE has achieved remarkable success in the third quarter of 2023. Their sales reached a staggering 537.9 billion won, and their operating profit soared to 72.7 billion won.
HYBE has done it again! They’ve smashed another performance record in the third quarter, all thanks to their incredible multi-label system. Their sales, which include albums, music, and performances, have been off the charts.
On November 2, HYBE announced its third-quarter financial results. They recorded sales of a whopping 537.9 billion won and an operating profit of 72.7 billion won on a consolidated basis.
Compared to the same period last year, sales increased by an impressive 21%, and operating profit saw a 20% increase. This performance marks the highest third-quarter achievement in HYBE’s history since its launch.
HYBE was able to achieve this new record thanks to the active domestic and international activities of its incredible artists. Artists like BTS, Seventeen, Tomorrow by Together, Enhypen, LE SSERAFIM, and NewJeans have been making waves in the industry.
In the third quarter, albums by BTS members V, Seventeen, and NewJeans garnered a lot of love from fans. Additionally, the world tours conducted by Seventeen, Tomorrow by Together, Enhypen, and LE SSERAFIM led to a significant increase in both direct and indirect sales.
Direct participation sales, including albums, performances, and advertisement appearances, made a significant impact. These sales accounted for a whopping KRW 382.4 billion. Specifically, album sales reached KRW 264.1 billion, which is a remarkable 104% increase compared to the same period last year. Performance sales also soared, reaching KRW 86.9 billion, showing an incredible 84% increase compared to the same period last year.
Indirect sales of HYBE totaled KRW 155.4 billion. These sales include merchandise, licensing, content, and fan club-related revenue.
The tour merchandise of Seventeen and Enhypen, accompanied by their lightsticks, as well as the official book ‘BEYOND THE STORY‘ celebrating BTS’s 10th debut anniversary, contributed to the indirect participation sales in the third quarter.
