South Korean entertainment company HYBE posted record quarterly revenue of 1.45 trillion won (approximately $967 million) in Q2, more than doubling its performance from the same period last year. The surge was driven by the comeback of BTS, whose new album and world tour generated sharp increases across both recorded music and live events.
Concert revenue jumps 630%
Concert revenue reached 647.7 billion won ($432 million), a 243.4% year-over-year increase and a 630% leap from the previous quarter. The BTS world tour, which began in April after the close of Q1, was the primary catalyst. Additional touring income came from ENHYPEN, LE SSERAFIM and BOYNEXTDOOR.
Recorded music climbs 43%
Recorded music revenue rose 43% to 326.8 billion won ($218 million). The main driver was BTS’ fifth studio album, ARIRANG, released on March 20. Other notable contributors included CORTIS and KATSEYE.
Return to profitability
After recording a loss in Q1 due to a stock-based compensation charge, HYBE returned to profitability with an operating profit of nearly 171 billion won ($114 million), up 159.3% year-over-year.
