South Korea · Delayed Price · Currency is KRW HYBE Co., Ltd. Earnings Call Transcripts
Fiscal Year 2026
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Record Q1 revenue and profit driven by BTS's comeback and strong album sales, with diversified growth from other artists and Weverse platform. Margin outlook remains stable despite higher artist fees, and overseas investment will be more selective in 2026.
Fiscal Year 2025
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Record 2025 revenue grew 18% YoY, driven by global concerts, new artist IPs, and digital business. Operating profit margin declined due to upfront investments and restructuring, but BTS's 2026 comeback and a new dividend policy signal strong future growth.
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Q3 revenue grew significantly year-over-year, driven by strong concert sales and global expansion, but profitability was impacted by upfront investments and restructuring costs. Weverse achieved record MAUs and turned a profit, while new group debuts and global partnerships strengthened the IP portfolio.
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Q2 revenue rose 10% YoY to KRW 705.6B, with strong concert and merchandise growth offsetting a decline in recorded music sales. Global expansion, new artist debuts, and Weverse platform growth drove performance, while investments in new markets and projects impacted short-term margins.
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HYBE posted 39% year-over-year revenue growth in Q1, driven by global tours and merchandise, while concert sales more than tripled. Profitability is expected to improve in Q2 as artists resume activities and new business initiatives accelerate.
Fiscal Year 2024
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Record revenue of KRW 2.25 trillion in 2024 was driven by strong music, concert, and merchandise sales, though operating profit fell due to investments and artist mix changes. BTS's return and global expansion are expected to boost 2025 results.
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Q3 revenue held steady at ₩527.8B, with strong global artist performance and robust merchandise and content sales. Operating profit margin was 10.3%, while net income was impacted by non-operating losses. Margin improvement and growth are expected in Q4 and 2025.
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HYBE posted record Q2 revenue, driven by strong global artist performance and expansion into technology and gaming. Despite margin pressure from upfront costs, streaming and indirect revenues grew, and new business models are expected to drive future growth.