HYBE’s Q1 Revenue Exceeds 50 Billion Won, Setting a New Record Driven by Tours and Merchandise Sales

K-pop agency HYBE recorded the highest quarterly performance in its history, with Q1 (January–March) revenue surpassing 50 billion won. Revenue from global tours and concerts increased by more than three times, further solidifying its position as a leading global entertainment company. On the 29th, HYBE announced that Q1 revenue reached 50,060 million won (approximately $348.4 million), a 38.7% increase from 36,090 million won (approximately $251.7 million) in the same period last year. This marks the highest quarterly figure in the company’s history. Net profit also surged to 5,530 million won, a nearly 400% rise compared to the previous year. In particular, concert revenue more than tripled, rising from 4,400 million won (approximately $30.7 million) in the prior year to 15,520 million won (approximately $180 million). This outcome far exceeded market forecasts of a 7,460 million won (approximately $52 million) decline. HYBE emphasized that such growth was achieved despite Q1 being traditionally a slow season in the industry. Solo activities and world tours by artists such as j-hope (BTS), SEVENTEEN, TXT, ENHYPEN, and BOYNEXTDOOR drove this expansion. The company explained that its multi-label system enabled more artist groups to undertake successful world tours. Revenue from artist-directly managed businesses—concerts, albums, and streaming—amounted to 32,250 million won (approximately $225 million), accounting for 64% of total revenue and a 48.6% increase from the previous year. Meanwhile, album and streaming sales saw a slight decline. Revenue from indirectly managed businesses—merchandise, licensing, content, and the Weverse fan platform—increased by 23.7% to 17,810 million won (approximately $124 million). Merchandise and licensing sales soared by 75% year-over-year, reaching 10,640 million won (approximately $74 million). Character merchandise such as MINITEEN from SEVENTEEN, PPULBATU from TXT, and FIM'S CLUB from LE SSERAFIM, along with tour-related products, performed particularly well. Weverse’s monthly active users (MAU) increased to 10 million in Q1, reflecting continued growth from 9.4 million in Q4 and 9.2 million in Q1. Weverse launched a “Listening Party” service integrated with Spotify, with support for Apple Music set to launch soon. Fan club revenue rose by 39% to 3,050 million won (approximately $21 million). Q2 performance is also expected to be positive. On May 16th, SUGA of BTS will release his second solo album, “Echo,” and he will commence his first solo tour titled “#RunSeokjin_Ep. Tour” in June. SEVENTEEN will release its fifth studio album, “Happy Burstday,” to celebrate its 10th anniversary. HYBE plans to debut a new Japanese group named aoen on June 11th and launch a new boy group under its Big Hit Music label in Q3.