K-pop Companies Grow Thanks to Concert Revenue

In the first quarter of 2025, HYBE, SM Entertainment, and YG Entertainment all recorded growth in both revenue and operating profit compared to the previous year. HYBE achieved revenue of 50.06 billion won and operating profit of 2.16 billion won, with revenue increasing by 38.7% and operating profit rising by 50% from the same period last year. SM Entertainment reported revenue of 23.14 billion won and operating profit of 3.26 billion won, showing a 5.2% increase in revenue and a 110% surge in operating profit. YG Entertainment turned from a loss in the first quarter of the previous year to a profit, with revenue of 10.02 billion won and operating profit of 0.95 billion won.

Concert Revenue Drives Growth

The improved financial results of these companies were primarily driven by concert revenue and sales of artist-related merchandise. HYBE’s first-quarter concert revenue rose from 2.52 billion won in the first quarter of 2022 to 4.4 billion won in 2023, and surged to 15.51 billion won in 2025. This figure exceeded HYBE’s revenue from albums and digital music, which was 13.65 billion won. HYBE’s concert revenue increased by 615% over two years. SM Entertainment’s concert revenue grew by 58% year-on-year, while revenue from albums and digital music increased by 23.1%.

Expansion of Global Tours

HYBE attracted 450,000 fans to 33 cities around the world through SEVENTEEN’s completed U.S. tour and upcoming Asian tour, as well as j-hope’s solo tour that began in February. TOMORROW X TOGETHER (TXT) finished their European tour, and artists under SM Entertainment such as IVE, TVXQ, and NCT 127 also contributed to global tours. YG Entertainment completed its world tour with 2NE1 holding final encore concerts in Seoul in April. STRAY KIDS performed in Lima, Peru, in April before an audience of approximately 45,000 people.

JYP Entertainment Has Not Released Figures Yet

JYP Entertainment has not yet released its financial results for the first quarter of 2025, but a decline compared to the previous year is expected. While HYBE, SM Entertainment, and YG Entertainment all saw improved performance in the first quarter, JYP Entertainment appears to face a relatively bleak outlook.