How much did HYBE and its subsidiaries (Big Hit, Belift, Source, ADOR, Pledis, KOZ) earn in the first half of 2023?

origin:www.allkpop.com

Last week, HYBE Labels unveiled its highly anticipated financial report for the second quarter of 2023.

Not only did the label’s financial report reveal crucial information on sales and¬†operating profits, but it also¬†offered stakeholders and netizens an in-depth understanding of the label’s current standing and future prospects.Based on the overall HYBE report, the sales report for the subsidiary agencies under HYBE was also unveiled, drawing upon data from the first and second quarters combined.

For the first half of 2023, Big Hit Music earned an operating profit of 75.7 billion KRW (56.6 million USD), HYBE Japan earned 24.8 billion KRW (18.6 million USD), Pledis earned 26.8 billion KRW (20 million USD), ADOR earned 11.5 billion (8.6 million USD) (Super Shy was released in August, so profit will be included in the next quarter), BELIFT LAB earned 9.5 billion (7.1 million USD), Source Music earned 5.9 billion (4.4 million USD) (including Japanese debut album and UNFORGIVEN album release), KOZ lost 4.3 billion KRW (-3.2 million USD), with HYBE Label Japan losing 5.1 billion KRW (-3.8 million USD).

In particular, there is still a high proportion of the profits coming from Big Hit Music artists and BTS members’ solo activities.

Korean netizens responded, “I guess the profit is mainly from BTS’s solo activities and their solo tour?” “I guess BTS is still big and NewJeans is amazing too,”¬†“That’s crazy,”¬†“BTS is dope,”¬†“Pledis is earning well too,”¬†“NewJeans is best,”¬†“I guess SUGA’s concert did well and the BTS solo albums they released did well too,”¬†and “I guess ADOR was worth investing into.”

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