Hybe Becomes the First Entertainment Company to Achieve Annual Sales of 2 T Won

  • 이소연 |2024.02.27 16:24
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Hive announced on the 26th that it recorded annual sales of 2.1781 trillion won and operating profit of 295.8 billion won for the fiscal year 2023 on a consolidated basis.

Compared to the previous year, sales increased by 22.6% and operating profit by 24.9%, marking record highs for both sales and operating profit. The three-year compound annual growth rate (CAGR) was 31.7% for sales and 24.7% for operating profit.

The remarkable activities of BTS members and the new record sales set by K-pop artists such as Seventeen contributed to the performance. New Jeans which showed unprecedented performance in its second year, and LE SSERAFIM , which embarked on a full-scale world tour, also accelerated growth.

HYBE Labels' artists sold 43.6 million albums in 2023, twice as many as the previous year (based on Circle Chart). The market share of HYBE artists (based on albums entering the chart) on the Circle Chart reached 38%.

Written by Kim Na Yeon

Translated by Lee So Yun

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