HYBE IS THE FIRST KPOP LABEL TO CROSS $1 BILLION IN ANNUAL SALES
Must be nice.
HYBE Corporation, the agency behind BTS, exceeded 1 trillion KRW (838 million USD) in annual revenue last year.
On February 22, HYBE announced that its annual sales were 1.25 trillion KRW (1.05 billion USD) on a consolidated basis last year, a 58.0 percent increase over 2020. Operating profit increased 30.8 percent year over year to 190.3 billion KRW (160 million USD), while net profit increased 62% to 141 billion KRW (120 million USD).
HYBE is South Korea's first music agency to surpass 1 trillion KRW in annual revenue.
BTS sold 7.4 million albums last year, while Seventeen and ENHYPEN sold 3.7 million and 2.2 million, respectively, an increase of 18.0% over the previous year. As a result, album sales increased to 378.5 billion Korean won (318 million dollars).
Additionally, Ithaca Holdings artists such as Ariana Grande and Justin Bieber, which HYBE acquired last year, sold millions of albums. Justin Bieber sold 2.35 million copies, while Ariana Grande sold 2.4 million.