HYBE is seeing a major first-quarter boost—thanks in large part to BTS.
On April 29th, HYBE reported revenue of 698.3 billion KRW (approximately 470 million USD) for Q1, marking a 39.5% jump from 500.6 billion KRW during the same period last year and setting a new first-quarter record.
Despite the strong top line, the company posted an operating loss of 196.6 billion KRW, a shift from last year’s 21.6 billion KRW operating profit. HYBE explained the loss was largely due to a one-time accounting expense of 255 billion KRW, tied to shares donated by chairman Bang Si Hyuk to fund employee bonuses. The company emphasized this did not involve an actual cash outflow.
Excluding that cost, HYBE said its adjusted operating profit stood at 58.5 billion KRW.
Revenue from core activities—including album sales, streaming, concerts, and advertising—rose 25.2% year-over-year to 403.7 billion KRW. BTS’ recent comeback played a major role, with album and music sales surging 98.9% to 271.5 billion KRW.
The group’s latest album ARIRANG sold 3.98 million copies on its first day alone and made history as the first K-pop release to top the Billboard 200 for three consecutive weeks.
Other HYBE artists, including ENHYPEN and KATSEYE, also contributed to the company’s performance.
Meanwhile, indirect revenue—such as merchandise, licensing, and fan platforms—climbed 65.5% to 294.7 billion KRW. HYBE’s fan platform Weverse also hit a new high, with average monthly active users rising 20% quarter-over-quarter.
Looking ahead, HYBE expects further growth in Q2, with upcoming releases from Tomorrow X Together, TWS, and ILLIT—along with continued impact from BTS’s ARIRANG world tour.
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