HYBE's cumulative revenue tops 3 trillion won... Growth driven by BTS, KATSEYE and CORTIS

[Financial News] HYBE posted revenue of more than 1.5 trillion won in the third quarter alone this year, setting a new quarterly record. BTS's tour and growth in locally based groups such as KATSEYE, along with the success of rookie act CORTIS, helped push cumulative revenue for the first three quarters to 3.674 trillion won, surpassing the 3 trillion won mark.
HYBE said on the 3rd that it recorded revenue of 1.5257 trillion won and operating profit of 188.5 billion won in the third quarter of this year. Both revenue and operating profit were quarterly records, surpassing the previous record set in the second quarter, when BTS's tour got underway in earnest, in just one quarter. The operating margin was 12.4%. Cumulative operating profit, excluding one-off costs incurred in the first quarter, totaled 417.9 billion won.
By segment, concert revenue hit a quarterly record of 726.8 billion won, boosted by BTS's tours in Europe and the U.S., ENHYPEN's tour in the Americas, and active touring by its artists, including LE SSERAFIM, &TEAM, BOYNEXTDOOR, TWS, ILLIT, KATSEYE and CORTIS.
Album and digital music revenue reached 282.8 billion won, on the back of sales of new releases and streaming of previously released tracks. MD and licensing revenue also hit a quarterly record of 334.6 billion won, helped by improvements in product planning, supply chains and purchasing convenience. In particular, the MD business succeeded in sustaining spending throughout tour periods, rather than concentrating it at the beginning. During BTS's North American tour, around one million people visited merchandise sales sites in 12 cities over 45 days, and around two million items were sold.
Rookie act CORTIS also contributed to the results. Sales of its second mini album surpassed four million copies four months after its release, and the group also toured in the third quarter, showing growth in both music and live performances.
The growth of KATSEYE and &TEAM, developed with the U.S. and Japan as their respective bases, demonstrated the success of the 'multi-home, multi-genre' strategy. The strategy involves cultivating artists in a range of genres based in different regions.
KATSEYE topped Billboard's main albums chart, the Billboard 200, with 'WILD,' released last August. Several of its songs appeared on the main singles chart, the Hot 100, including 'Animal,' which remained on the chart for 12 consecutive weeks. The group also sold out every show on its Europe and North America tour, which spanned 27 cities and 31 performances.
&TEAM expanded its fandom with its first solo dome concert at Japan's Belluna Dome. It is also broadening its reach among overseas fans through a collaboration with Santos Bravos, which debuted in the Latin market.
HYBE launched 'HYBE Global Label Services' last October to support the overseas activities of its artists. The company plans to support their global activities through marketing and promotional infrastructure connecting its bases in Korea, the Americas, Japan and India.
[email protected] Shin Jin-a Reporter