Hybe Corporations, formerly known as Big Hit Entertainment Co., Ltd and best known for being the management agency of Korean musical sensation BTS or Bangtan Sonyeondan/Beyond the Scene has been the center of much interest.
Given how quickly it has ascended to becoming one of the biggest and most powerful K-pop management agency and even going beyond that in certain cases, analysts and those in the industry have always taken much interest in it.
No one can deny that whatever the company currently is majorly because of the massive and groundbreaking success that BTS became. One single group managed to take a company on the verge of bankruptcy to now eventually becoming the first K-pop management agency to cross 1 trillion won in annual sales.
Hybe Crosses 1 Trillion Won In Sales
Reports recently came out of how the company’s regulatory filing on Tuesday for its sales for 2021 approximately put their annual sales at around 1.25 trillion won or $838 million.
This a interesting 58% rise from the previous year’s numbers and as per Korea Times “operating profit rose 30.8 percent on-year to 190.3 billion won with a net profit estimated at 141 billion won, up 62 percent.”
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Hybe with these numbers has become the first K-pop agency to cross such a massive number. Of course as per reports BTS was behind most of these earnings with their latest single ‘Butter’ selling 7.4 million copies and maintaining its place in Billboard’s Hot 100 main singles chart for 10 weeks.
From the previous the company also saw an 18% increase in album sales counting to around 378.5 billion won.
One also has to commend Hybe for their interesting acquisitions and partnerships that has only added to its overall revenue. Hybe acquired Ithaca Holdings that manages artists like Ariana Grande, Justin Bieber and more also added to the company’s revenue.
Grande saw around 2.4 million album copies being sold while Justin Bieber sold 2.35 million copies. K-pop artists under Hybe also had an interesting year with Seventeen selling 3.7 million albums, Tomorrow X Together 1.8 million and Enhypen having sold around 2.2 million copies.
BTS’ live concerts held last year between November to December also obviously attributed to the massive numbers. The concerts saw 210,000 fans in attendance and as per the company “The concerts generated 40 billion won in sales from offline events only,” and added that “When sales from YouTube Theater and online streaming are included, (Hybe) recorded its biggest-ever sales.”
Image Credits: Google Images
Sources: Korea Times, Forbes,
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