HYBE reported on the 5th that its operating profit for the third quarter this year was tentatively tallied at 54.2 billion KRW, down 25.4% from the same period last year. Revenue was 527.8 billion KRW, a decrease of 1.9% compared to the same period last year.
Net profit decreased by 98.6% to 1.4 billion KRW. Of the 527.8 billion KRW in third-quarter sales, direct participation revenues such as albums, performances, and advertisements were 323 billion KRW, with significant declines in album and music (-18.8%) and performance (-14.8%) sectors.
Indirect participation revenues such as MD and licensing, content, and fan club sales were 204.9 billion KRW, an increase of 31.8% compared to the same period last year. HYBE achieved successes such as the global girl group Cats Eye’s debut album ‘SIS’ entering the U.S Billboard main album chart ‘Billboard 200’ for two consecutive weeks this third quarter.
The fan platform Weverse operated by HYBE recorded an MAU (average monthly active users) of 9.7 million, an increase of about 100,000 from the previous quarter, but a decrease of about 900,000 from the same period last year. HYBE believes it is capable of achieving ‘annual revenue of 2 trillion KRW’ for the second consecutive year as cumulative sales reached 1.5292 trillion KRW by the third quarter. HYBE announced that various artists, including BTS’s Jin, will be active in the fourth quarter.
Jin will release his first solo album ‘Happy’ on the 15th.
Seventeen, who made a comeback last October with their 12th mini album after half a year, will hold a world tour until early next year. Reporter Ji-Hye Kim jahye2@edaily.co.kr
