BTS world tour lifts HYBE to record quarterly revenue of about KRW 1.53 trillion
Concert income nearly tripled year on year as the K-pop company reported its biggest quarter ever.
HYBE reported record third-quarter results on Nov. 3, with revenue of about KRW 1.53 trillion (roughly $1.08 billion by Music Business Worldwide's conversion, about $1.13 billion by another outlet) and operating profit near KRW 188.5 billion.
Concert revenue reached KRW 726.8 billion, up about 197% from a year earlier, driven by the BTS world tour, which the company said averaged around 70,000 fans per show. Merchandise and licensing brought in KRW 334.6 billion, including roughly KRW 107 billion from BTS North American tour merchandise.
Recorded music revenue was KRW 282.8 billion, up 49% year on year but down 13.4% from the previous quarter, which reporting attributes to fewer album releases. Acts such as Enhypen, LE SSERAFIM, KATSEYE and CORTIS also toured; KATSEYE played 31 sold-out shows.
Over nine months HYBE has taken in about $2.73 billion, more than any full year before.
