BTS Agency Hybe Posts Record $1.6B In Annual Sales As K-Pop Demand Rockets
deadline.comHybe, the label behind Korean supergroup BTS, announced today that its annual sales hit 2.17 trillion won (US$1.6 billion) in 2023, making it the first K-pop agency ever to reach this milestone.
In a conference call, the company said that robust album and concert sales by its major artists contributed to this achievement, including Seventeen, Tomorrow X Together, NewJeans, Enhypen and BTS members as soloists.
Several BTS members are currently undergoing mandatory military service, and the band is temporarily on hiatus. However, it continues to resonate globally, with the likes of Disney+ and Prime Video releasing docs on the band.
Despite their absence, the band’s popularity helped operating profits hit 295.8BN won, up nearly 25% year-on-year, and a net profit of 186.6BN won, a whopping 288.5% up on 2022.
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