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Posted by Sophie-Ha Tuesday, February 22, 2022

HYBE becomes the first Korean music agency in history to hit over 1 Trillion KRW (~838 million USD) in sales

AKP STAFF

The annual sales of HYBE Corporation, the agency behind BTS, exceeded 1 Trillion KRW (~838 Million USD) last year.

On February 22, HYBE announced that on a consolidated basis, its annual sales last year were 1.25 trillion KRW (~1.05 Billion USD), an increase of 58.0% compared to 2020. Operating profit increased 30.8% to 190.3 billion KRW (~160 million USD), and net profit increased by 62% to 141 billion KRW (~120 million USD) compared to the year before.

HYBE is the first music agency in South Korea to exceed 1 Trillion KRW in annual sales.

Last year BTS sold 7.4 million albums, while Seventeen and ENHYPEN also sold 3.7 million and 2.2 million albums, respectively, which is 18.0% higher than the previous year. Therefore, the album sales increased to 378.5 billion KRW (~318 million USD).


In addition, singers such as Ariana Grande and Justin Bieber belonging to Ithaca Holdings, which HYBE acquired last year, also sold millions of albums. While Ariana Grande sold 2.4 million copies, Justin Bieber sold 2.35 million copies.

Additionally, the company earned 707 billion KRW (~594 million USD) in sales from advertisements and artists' appearance fees, with content sales of 365.9 billion KRW (~307 million USD), all up more than 100% from the previous year.

Performance revenue also recorded 49.7 billion KRW (~42 million USD), up about ten times from the previous year, thanks to the success of BTS's Los Angeles concert in the US in the fourth quarter of last year.

  1. BTS
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19 26,579 Share 79% Upvoted
 
Fat-buzzer
Fat-buzzer3,460 pts Tuesday, February 22, 2022 0
Tuesday, February 22, 2022

Congratulations, I still remember the time investors didn’t want to invest because they thought they would lose their money

19 (+23 / -4)
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Faith08
Faith0863 pts Tuesday, February 22, 2022 0
Tuesday, February 22, 2022

Congratulations HYBE, you deserve it Congratulations To BTS as well

15 (+18 / -3)
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