In recent years, Hybe has become the first K-pop management agency to achieve yearly sales of more than 1 trillion won ($838 million), thanks to the success of its artists, including worldwide superstars BTS.
In a regulatory statement on Tuesday, the business stated that its revenues for 2021 were tentatively estimated to be 1.25 trillion won, representing a 58 percent increase over the previous year. Its operational profit increased by 30.8 percent year on year to 190.3 billion won, with a net profit expected to be 141 billion won, a 62 percent increase over the previous year.
It is the first time that Hybe has achieved 1 trillion won in yearly revenue, and Hybe is also the first K-pop agency to reach this milestone, according to the company.
Against the previous year, the company's album sales increased by 18 percent, to 378.5 billion won.
BTS was the most important component in Hybe's strong success, as the album including the group's megahit single "Butter" sold a total of 7.4 million copies worldwide. The song remained on the Billboard Hot 100 main singles list for a total of ten weeks, not all consecutively.
Other South Korean boy groups affiliated with Hybe, including Seventeen, Tomorrow X Together, and Enhypen, sold 3.7 million, 1.8 million, and 2.2 million copies, respectively, on their respective albums.
In addition, records by Ariana Grande, who is managed by Ithaca Holdings, which Hybe purchased last year, sold 2.4 million copies, while albums by Justin Bieber sold 2.35 million copies, according to Hybe's figures.
Revenues from live performances increased by 980.5 percent in the past fiscal year, totaling 49.7 billion won; the majority of that total, 45.3 billion won, came in the fourth quarter.
In part, analysts credit the increase to the enormous popularity of BTS' live performances in Los Angeles, which drew more than 210,000 fans between late November and early December.
"Only offline events contributed to the 40 billion won in revenues generated by the concerts," the firm stated. "When revenues through YouTube Theater and online streaming are taken into account, (Hybe) achieved its highest-ever sales total," the company said.
The business also announced a net profit of 53.8 billion won for the fourth quarter, an increase of 106.1 percent over the same period the previous year.
It had an operational profit of 73.9 billion won during the quarter, compared to a profit of 54 billion won in the same period last year. The amount of money earned increased by 48 percent to 459.8 billion won.
According to a study conducted by Yonhap Infomax, the financial data organization affiliated with the Yonhap News Agency, the operational profit was 3.6 percent more than the average projection. It was not possible to obtain an estimate of net profit.
