HYBE Announces Sales Figures And Earnings From 3rd Quarter Of 2021
HYBE has revealed their earnings from the third quarter (July to September) of 2021.
On November 4, HYBE reported a revenue of 341 billion won (approximately $288.1 million) and an operating profit of 65.6 billion won (approximately $55.4 million) for the third quarter of the year (subject to change following external audit). Compared to the previous year’s third quarter performance, revenue rose by 80 percent and operating profit by 63 percent.
The growth was mostly driven by revenue from albums, merchandise, and licensing. On the albums side, revenue rose by 21 percent compared to the previous quarter to be 129.7 billion won (approximately $109.6 million). Revenue from merchandise and licensing grew 53 percent to 76.7 billion won (approximately $64.8 million), and revenue from artists’ advertisement appearance fees and management increased by 56 percent to be 33.8 billion won (approximately $28.6 million).
Global fan community platform Weverse also showed growth in the form of 6.4 million monthly active users (MAU), which is 20 percent higher than the previous quarter.
HYBE CEO Park Ji Won stated at the company’s conference call for institutional investors, “Despite the COVID-19 pandemic, we were able to strengthen the company’s external and internal stability compared to the previous year.” CEO Park Ji Won added, “In the fourth quarter, starting with BTS’s LA concert, we are expecting to expand more offline shows for a growth in the company’s revenue.”
Meanwhile, HYBE also held a corporate briefing this day and announced their plans for a new girl group in the United States and a new boy group in Japan as well as the launch of an original story business, a new game involving BTS, and an NFT platform business.