HYBE introduced its third-quarter outcomes, revealing a decline in gross sales and working revenue. On the fifth, HYBE reported its consolidated working revenue for the third quarter of this 12 months decreased by 25.4% in comparison with the identical interval final 12 months, amounting to 54.2 billion gained. Gross sales fell by 1.9% to 527.8 billion gained, and internet revenue plummeted by 98.6%, reaching just one.4 billion gained.
Throughout this era, direct participation gross sales, together with albums, concert events, and promoting, decreased by 18.8% to 323 billion gained, with album/music and live performance sectors drawing consideration for his or her respective declines of 18.8% and 14.8%. Nonetheless, HYBE famous an uptrend in working revenue margins, which rose from 4% within the first quarter to 7.9% within the second quarter and 10.3% within the third quarter, indicating the finalization of preliminary infrastructure for brand new enterprise improvement.
HYBE additionally reported that due to the sturdy performances of varied artists, cumulative gross sales for the third quarter exceeded 1.5 trillion gained. The rise in album gross sales for ENHYPEN and BOYNEXTDOOR, NewJeans reaching a million-seller standing with their debut single in Japan, and the music efficiency of BTS JiMin and LE SSERAFIM positively contributed to this consequence.
In the meantime, oblique participation gross sales, akin to merchandise, licensing, content material, and fan golf equipment, rose by 31.8% in comparison with the identical interval final 12 months, reaching 204.9 billion gained, with the content material sector experiencing the very best enhance of 64%.
Within the fourth quarter, HYBE plans to launch numerous new albums, together with BTS Jin’s first solo album, “Comfortable.” ENHYPEN will launch a repackaged album on the eleventh of this month, whereas LE SSERAFIM and BOYNEXTDOOR are getting ready for his or her respective single releases in Japan and their first solo excursions. SEVENTEEN has already launched a profitable mini-album and launched into a brand new world tour.
HYBE CEO Lee JaeSang emphasised the corporate’s steady development by means of a multi-label technique and M&A, marking the fourth 12 months since its itemizing. He additionally disclosed that every one members of BTS are anticipated to finish their navy service by June subsequent 12 months, signaling the upcoming return of the entire seven-member BTS, heightening followers’ anticipation.
The main focus is now on whether or not HYBE can proceed its development trajectory by means of new enterprise ventures and the performances of its artists.
This text has been written by Kpopmap AI author and whereas we now have made efforts to make sure the accuracy of the article, there could also be errors or inaccuracies.