July 7, 2022

South Korean entertainment agency, Hybe announced to have surpassed 1 trillion won ($838 million) in annual sales, heightened by successes of its artists led by global superstars BTS.

According to the company in a regulatory filing on Tuesday, its sales for 2021 were tentatively tallied at 1.25 trillion won, up 58 percent from the previous year. While its operating profit rose 30.8 percent on-year to 190.3 billion won with a net profit estimated at 141 billion won, up 62 percent.

The amount marks the first time Hybe has exceeded 1 trillion won in annual sales, and also become the first K-pop agency to hit the milestone.

Further sales data –

• Album sales rose 18 percent from the previous year to 378.5 billion won.
• BTS’ megahit single “Butter” selling 7.4 million copies alone was the leading factor behind Hybe’s solid performance.
• Albums by other South Korean boy groups under Hybe — Seventeen, Tomorrow X Together and Enhypen — also sold 3.7 million, 1.8 million and 2.2 million copies, respectively.
• Moreover, albums by Ariana Grande managed by Ithaca Holdings, which Hybe acquired last year, sold 2.4 million copies.
• While albums by Justin Bieber sold 2.35 million copies.
• Its sales from live performances rose 980.5 percent year-on-year to 49.7 billion won last year, and 45.3 billion won of them came in the fourth quarter.
• The company recorded fourth-quarter net income of 53.8 billion won, up 106.1 percent from a year earlier.
• In the operating profit for the quarter, it posted 73.9 billion won, compared with 54 billion won a year ago.
• While revenue rose 48 percent to 459.8 billion won.

According to analysts, the company’s surge to the big success was achieved by BTS’ live concerts in Los Angeles, which drew more than 210,000 fans between late November to early December.