Turns out a stadium world tour is great for business. HYBE just reported the biggest quarter in its history, and BTS’ ‘ARIRANG’ world tour is the main reason why.
For July through September, HYBE’s preliminary revenue came to 1.53 trillion won, up 109.8 percent from the same stretch last year. Operating profit landed at 188.5 billion won, a big turnaround from a 42.2 billion won operating loss a year earlier. Both are new quarterly records for the company, beating the highs it had only just set in the second quarter.
Here’s how HYBE put it in its earnings release:
“The previous quarterly records of 1.45 trillion won in revenue and 170.9 billion won in operating profit were set in the second quarter of this year, when BTS kicked off its ‘Arirang’ world tour, and those figures have now been surpassed in just one quarter.”
HYBE, as quoted by The Korea Herald (English)
Concerts did the heavy lifting, bringing in 726.8 billion won. According to HYBE, BTS played to as many as 70,000 fans per show on their Europe and US dates. Tours from ENHYPEN, LE SSERAFIM, NewJeans, BOYNEXTDOOR, TWS, ILLIT, KATSEYE and CORTIS added to that total, too. Merch and licensing brought in 334.6 billion won, and albums and streaming 282.8 billion won.
With this quarter in the books, HYBE is close to becoming the first K-pop agency to top 4 trillion won in yearly revenue. And ARMY, there’s more road ahead: HYBE says BTS will keep touring through the first half of next year.
While you wait for your next show, the ‘SWIM’ MV is right below.