HYBE Records Highest Quarterly Revenue Ever at 727.2 Billion Won in Q3, Despite 42.2 Billion Won Operating Loss

HYBE reported the highest quarterly revenue in its history at 727.2 billion won for the third quarter of 2025, though it also announced an operating loss of 42.2 billion won. This revenue figure represented a 37.8% increase compared to the same period last year and surpassed the performance recorded in Q4 2024, which was 726.4 billion won. The cumulative revenue for the first three quarters of the year totaled approximately 1.93 trillion won. The main driver behind this revenue growth was direct participation revenue, amounting to 477.4 billion won. Revenue generated from concerts such as BTS’s Jin’s solo tour, TOMORROW X TOGETHER’s tours, and ENHYPEN’s world tours reached 245 billion won, showing a growth rate of more than three times that of the same period in the previous year. Revenue from music albums and digital tracks totaled 189.8 billion won. Indirect participation revenue was 249.8 billion won, with MD and licensing-related revenue reaching 168.3 billion won, a 70% increase from the previous year. The global girl group KATSEYE reached position 37 on the Billboard Hot 100 with its new song “Gabriela,” while “Narly” has remained on the chart for 11 consecutive weeks. KATSEYE received nominations in two categories at the 68th Grammy Awards: “Best New Artist” and “Best Pop Duo/Group Performance.” Its monthly Spotify listener count exceeded 33 million. The tour, which included 16 performances in 13 cities across North America, sold out every time it was held. The operating loss in Q3 was caused by one-time expenses resulting from investments to expand global IP and restructuring of the North American business operations. HYBE is transitioning from a management-centered approach to an IP business model focused on its record labels. New investments led to the debut of the Korean boy group CORTIS, while in South America, the five-member boy group SANTOS BRAVOS was selected. Bands such as MUSZA, Destino, and Low Clika are also preparing for their debuts. The Weverse platform turned profitable on a cumulative basis for the third quarter, and it is scheduled to launch “Weverse DM” on China’s QQ Music on the 18th. HYBE CEO Lee Jae-sang stated that “the fundamentals of the K-pop sector remain strong” and added that “factors affecting profitability will be resolved starting from Q4.” He predicted that “a full-scale recovery in profitability will begin next year,” a trend he attributed to BTS’s resumption of activities.