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HYBE Corporation Achieves Record Revenue of 2 Trillion Won with 43.6 Million Album Sales

Marking a significant achievement, HYBE has become the first South Korean entertainment company to surpass an annual revenue milestone of 2 trillion won (approximately 1.54 billion US dollars).

SB Desk

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HYBE Corporation has reached a historic milestone with record-breaking revenue of 2 trillion won, driven primarily by an impressive 43.6 million album sales attributed to artists such as SEVENTEEN, BTS, and NewJeans.

Marking a significant achievement, HYBE has become the first South Korean entertainment company to surpass an annual revenue milestone of 2 trillion won (approximately 1.54 billion US dollars). This remarkable success is credited to its robust multi-label system and outstanding growth in album sales and concert sectors.

On February 26, HYBE unveiled its 2023 consolidated revenue, totaling 2.1781 trillion won, and operating profit, amounting to 295.8 billion won. This announcement reflects a notable 22.6% surge in sales and a remarkable 24.9% rise in operating profit compared to the previous year.

These figures establish new records for the company, showcasing a remarkable 3-year compound annual growth rate (CAGR) of 31.7% in sales and 24.7% in operating profit.

These remarkable achievements were driven by the contributions of BTS members, SEVENTEEN, NewJeans, and the successful world tour of LE SSERAFIM. In 2023, HYBE’s artists achieved remarkable album sales, totaling 43.6 million units, according to Circle Chart, doubling the figures from the previous year. Notably, SEVENTEEN updated their own K-pop album sales record, reaching a cumulative 16 million albums sold. Moreover, solo albums by BTS members demonstrated global influence with 8.7 million sales worldwide.

Streaming achievements were equally impressive, with notable appearances by various artists on the Billboard Hot 100 chart. NewJeans made an impact by entering the Hot 100 with five songs, showcasing their growing popularity. Additionally, LE SSERAFIM’s track Perfect Night achieved significant success on year-end Billboard charts, highlighting the diverse success of HYBE’s artists in the streaming arena.

The global superfandom platform Weverse sustained a steady monthly average user count of 10 million, driven by the addition of both domestic and international artists. Looking ahead, HYBE has ambitious plans for the debut of numerous artists, enriching its lineup and expanding its presence in the industry.

In addition to its financial report, HYBE unveiled a shareholder value enhancement plan, including a dividend of 700 won per share, totaling 29.2 billion won. Furthermore, HYBE adopted Supertone’s AI audio technology for its earnings report conference call, ensuring an engaging and immersive experience for participants.

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