Hybe Revenue Hits Record High Despite 40% Profit Drop During BTS Military Service
Korean music giant Hybe reported a 40% decline in operating profit for 2024, primarily attributed to BTS's military service hiatus and strategic investments in infrastructure.
BTS members performing on stage
Despite the profit drop, Hybe achieved its highest revenue year to date, generating 2.25 trillion Korean won ($1.58 billion), a 4% increase from 2023. The company's Q4 2024 performance showed:
- Revenue: 725.3 billion won ($507.5 million)
- Operating profit: 65 billion won ($45.5 million)
The decline in operating profit resulted from:
- BTS's temporary military service break
- Changes in artist sales mix due to new debuts
- Investments in Weverse and gaming initiatives
Other artist successes helped maintain revenue growth:
- SEVENTEEN sold over 10 million albums between 2023-2024
- ENHYPEN and NewJeans showed strong performance
- Artist-involved promotions generated 1.45 trillion won ($1 billion)
Weverse platform growth showed significant international expansion:
- North America: 26% increase
- Brazil: 21% increase
- Mexico: 14% increase
- Japan: 22% increase
- Taiwan: 54% increase
Hybe expects a strong recovery in 2025 with BTS's anticipated return after completing their mandatory military service by June. The company also anticipates positive returns from Weverse investments starting January 2025.
Related Articles
Blackpink's Lisa Launches Comic Company LaLisa Comics While Debuting Solo Album and 'White Lotus' Role
