Hybe Q3 Music Revenue Drops 18.8% as Company Eyes 2025 BTS Return and Major Q4 Releases
Hybe's Q3 2024 financial results reveal significant changes in the K-pop industry giant's performance, with notable declines in key areas alongside some promising growth segments.
Key Financial Highlights:
- Overall revenue: $376.98 million (₩527.85 billion), down 1.9% YoY
- Recorded music revenue: $153.21 million, down 18.8% YoY
- Concert revenue: $52.85 million, down 14.8% YoY
- Operating profit: $36.68 million, down 25.4% YoY
- Net profit: $1.03 million, down 98.6% YoY
Six women lineup on stage
Growth Areas:
- Merchandise and licensing: Up 15.7% YoY to $70.73 million
- Contents revenue: Up 63.6% YoY to $56.90 million
- Fan-club category (Weverse): Up 23.4% YoY to $18.54 million
Q4 2024 Release Schedule:
- Seventeen's "Spill the Feels" (October)
- Enhypen's repackaged second album (November 11)
- Jin's solo debut album "Happy" (November 15)
Future Outlook:
- BTS reunion anticipated in 2025 after military service completion
- Expansion into non-K-pop markets through acquisitions (Exile Music, Quality Control)
- Weverse platform growth with 9.7 million monthly active users
- New features including label-focused subscriptions and enhanced advertising
Five members of NewJeans posing together
Despite financial challenges, Hybe maintains strong physical album sales and streaming performance, indicating continued fan engagement in the K-pop sector while pursuing strategic diversification into global markets.
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