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Posted by beansss 20 days ago

HYBE Labels' business performance results from the first quarter of 2021 revealed

AKP STAFF

On April 22, finance advising agency KB Securities predicted high turnarounds for HYBE Labels in the second quarter of 2021. 

According to KB Securities, "In the first quarter of 2021, HYBE Labels recorded a total sales amount of 173.7 billion KRW (~ $155.7 million USD), which is a 44.4% decrease from the previous quarter; and a total profit of 22.4 billion KRW (~ $20.1 million USD), which is a 57.3% decrease from the previous quarter. The company will be falling short of its business profit consensus, which falls at 26.6 billion KRW, in the first quarter of 2021."

Additionally, HYBE Labels recorded a total of 1.8 million album sales for this quarter, a 61% decrease from the same quarter in 2020. The primary reason for the decrease resulted in the fact that none of HYBE Labels's key performing artists released albums in the first quarter of 2021. 

KB Securities went on to predict that in light of the prolonged COVID19 pandemic, approximately 66% of HYBE Labels's sales for 2021 will result from MD/licensed product sales, contents/programs, and fanclub membership services. Finally, the agency predicted that HYBE Labels will likely see high turnarounds in the second quarter of 2021 with all of the company's major performing artists - BTS, Seventeen, NU'EST, and GFriend - making comebacks in this upcoming quarter. 

Beginning in May of this year, HYBE Labels is expected to see increased business performance as a result of its acquisition of Ithaca Holdings.

  1. BTS
  2. GFriend (Girlfriend)
  3. NU'EST
  4. Seventeen
8 15,157 Share 73% Upvoted

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Starsenna
Starsenna808 pts 20 days ago 0
20 days ago

All I’m reading is my boys getting their bag:)

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Kadali-j
Kadali-j84 pts 19 days ago 0
19 days ago

When bts comeback happens hybe comeback also happens from decreased to increased

as expected world wide kings

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