South Korea · Delayed Price · Currency is KRW HYBE Co., Ltd. Earnings Call Transcripts
Fiscal Year 2025
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Record-breaking 2025 revenue and global concert expansion were driven by strong artist IPs and digital business growth. Upfront investments and U.S. restructuring impacted margins, but new shareholder return policies and BTS's 2026 comeback are set to drive 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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Q2 2024 saw record revenue, strong global artist performance, and growth in both music and new tech-driven businesses. Operating margin was impacted by upfront costs, but H2 is expected to see improved profitability as new initiatives and artist activities ramp up.