HYBE Q1 FINANCIAL RESULT, HOW MUCH IS THE INCOME?

Hybe Corporation is a South Korean company established in 2005 by Bang Si-hyuk as Big Hit ... Operating profit rose 97% to ₩64.1 billion ($56.72 million), while net profit rose 105% to ₩50.2 billion ($44.41 million).In the first quarter of 2021. HYBE announced that it recorded 178.3B KRW in sales and 21.7B KRW in operating profit in the first quarter of this year. After taking away various costs, the total operating profit was₩21.7 billion KRW ($19,303,488 USD). Although this amount was a preliminary settlement before external audit, it seems that they have already seen an improvement in profits of 9% compared to the first quarter of 2020.

Compared to the company’s performance in the first quarter of 2020, the figures marked a 29 percent rise in revenue and a 9 percent increase in operating profit. Under HYBE Corporation we have BTS, SEVENTEEN, TXT, ENHYPEN, GFRIEND and soloist Lee Hyun. The name change marks Big Hit Entertainment's transformation from a management label for Kpop groups like BTS and TXT to a comprehensive content company. The company announced this through a report with Korea's Financial Supervisory Service. In April, HYBE acquired Scooter Braun's Ithaca Holdings, home to Justin Bieber and Ariana Grande, making their intentions of going global clearer! Now, they have released their performance reports for the first quarter of the fiscal year.

HYBE also reported that it had seen a dramatic increase in revenue from merchandise sales, licensing, and artist-related content. Revenue from artist-related merchandise sales rose by 89 percent to 64.7 billion won (approximately $57.5 million), while revenue from artist-related content soared by a whopping 360 percent to 37.2 billion won (approximately $33 million)

This is a huge deals, keeps in mind that their Dark Horse group, aka, BTS hasn't made any comeback, well it will be soon! Where did this increase come from? According to the report, the company had seen a rise in the sales of merchandise and IP contents, of 89% and 360% respectively. Earnings in advertisement and broadcasts rose 63%, while earnings made from fan clubs rose 24%. This can be attributed to the growth in Weverse, HYBE’s global fan community platform. Weverse’s monthly active users averaged 4.9 million in the first quarter of 2021.

HYBE also made it to TIME Magazine's 100 Most Influential Companies of 2021. HYBE was named under the category of 'pioneers' which also included Twitter, Nike, Samsung, Disney and Netflix. Recently, HYBE acquired Ithaca Holdings. They have announced that they will combine HYBE’s solution and platform capabilities, putting it to great use with the IP content from global stars such as Justin Bieber and Ariana Grande. They will also be using Ithaca Holding’s network to expand their Korean artists’ entry into the U.S market. It seems the great years for HYBE will still rising.