HYBE Posts Record Third-Quarter Results on BTS Effect, Reaches 1.5 Trillion Won on ‘ARIRANG’ Tour… Could It Become the First in Korea to Top 4 Trillion Won?

KOSPI-listed 'HYBE' reported operating profit of 188.5 billion won on a consolidated basis in the third quarter of this year, swinging to a profit from a loss in the same period last year. The figure was a 13.6% earnings surprise, exceeding the market consensus estimate of 166 billion won compiled by Yonhap Infomax. Third-quarter revenue surged 109.8% year over year to 1.5257 trillion won, while net income also swung to a profit of 11.3 billion won.

'HYBE' reported cumulative revenue of 3.674 trillion won for the first three quarters. The overwhelming figure puts it within reach of surpassing 4 trillion won in annual revenue—a 'first in Korea' among domestic music agencies. The company said the results marked a record high for a single quarter, surpassing in just one quarter the results posted in Q2—revenue of 1.45 trillion won and operating profit of 170.9 billion won—when 'BTS' began its world tour 'ARIRANG' in earnest. The figures clearly demonstrate the company's structural evolution beyond a 'K-pop' agency into a top-tier global entertainment platform.

Explosive synergy from concert and MD revenue drives evolution into a global entertainment platform

By business segment, direct artist-driven revenue stood out, buoyed by the success of the 'BTS' world tour. Concert revenue alone reached 726.8 billion won in the third quarter, setting a new quarterly record. Led by 'BTS' tours in Europe and the United States, which drew audiences of 70,000 per show, global tours by artists across the company's roster—including ENHYPEN, LE SSERAFIM, &TEAM, BOYNEXTDOOR, TWS and ILLIT—also drove results. Album and digital music revenue reached 282.8 billion won, supported by steady sales of both new and catalog releases.

‘Multi-home, multi-genre’ strategy pays off, signaling continued growth momentum

Among indirect artist-driven revenue, the MD and licensing segment stood out, bringing in 334.6 billion won. 'HYBE' has overcome a limitation of its existing 'MD' business, in which sales were concentrated at the beginning of tours, and established a recurring, sustained consumption model through the second leg of 'BTS'' North American tour. About 1 million fans gathered at tour venues across 12 cities over 45 days, and the quantity of 'MD' sold exceeded 2 million items. The results reflect the success of a localization strategy driven by innovation across planning, production and distribution.

'HYBE' said 'BTS' plans to continue its world tour through the first half of next year and connect with fans around the world. 'Lee Jae-sang', 'HYBE''s CEO, said the company is planning a variety of projects following the 'ARIRANG' world tour through close discussions with the 'BTS' members. He also indicated that preparations are underway for additional concerts and for group and solo activities after the tour concludes.

In addition, CEO 'Lee Jae-sang' emphasized that the 'multi-home' and 'multi-genre' infrastructure the company has invested in over the past several years is now beginning to bear fruit, and said it would continue to prove its performance and global momentum by meeting market expectations rather than resting on its laurels.