Hive Q3 Operating Profit 72.7 Billion KRW, Up 20% Year-on-Year

Q3 2023 Revenue 537.9 Billion KRW, Operating Profit 72.7 Billion KRW
Multi-label System Smooth Sailing, Significant Growth in Album and Concert Sales
Weverse with SM Artists Joins, Achieves 10 Million MAU

HYBE announced on the 2nd that its Q3 earnings were KRW 537.9 billion in sales and KRW 72.7 billion in operating profit. These figures represent a 21% and 20% increase respectively compared to the same period last year. This is the highest Q3 performance since HYBE's founding.

Active domestic and international activities by HYBE Labels artists such as BTS, Seventeen, TOMORROW X TOGETHER, ENHYPEN, LE SSERAFIM, and NewJeans drove the performance. BTS member V became the first solo artist in Korea to surpass 2 million copies in initial sales with his September album 'Layover,' and Jungkook charted on the Billboard Hot 100 for 13 consecutive weeks with the digital single 'Seven,' followed by ranking 5th on the Hot 100 with the digital single '3D.' Seventeen sold over 11 million albums by September. Additionally, TOMORROW X TOGETHER's second Japanese album, NewJeans' second mini-album 'Get Up', and LE SSERAFIM's world tour 'FLAME RISES' also contributed to the Q3 results.

Looking at the sales composition, direct participation revenues such as albums, concerts, and advertising appearances amounted to KRW 382.4 billion. Album sales grew 104% year-on-year to KRW 264.1 billion. Concert sales increased by 84% compared to the same period last year, reaching KRW 86.9 billion. Indirect participation revenues including MD and licensing, content, and fan clubs totaled KRW 155.4 billion. The global fan community platform Weverse recorded an average monthly active user (MAU) count of approximately 10.5 million in Q3, a 10% increase from the previous quarter.

HYBE Labels artists will continue various concerts and album activities in Q4. Jungkook will release his first solo full-length album 'GOLDEN' on the 3rd. Seventeen recently surpassed 5.09 million initial sales with their 11th mini-album 'SEVENTEENTH HEAVEN,' becoming the first K-pop artist to achieve this milestone. TOMORROW X TOGETHER's full-length album 'The Name Chapter: FREEFALL,' released last month, became a double million-seller for two consecutive albums. ENHYPEN and &TEAM also plan to make comebacks this month.

A HYBE representative stated, “HYBE is dedicated to expanding genres and composing a diverse music portfolio, which is resulting in simultaneous growth in album and digital music sales. We are seeking sustainable growth not only through inorganic methods such as mergers and acquisitions (M&A) but also through organic methods like the 'The Debut: Dream Academy' project.”

This content was produced with the assistance of AI translation services.