Hybe Reports 18.8% Drop in Q3 Music Revenue, Plans Major Q4 Releases and 2025 BTS Return
Here's a concise, value-focused rewrite of the article:
Hybe, the entertainment company behind BTS, has reported significant financial changes in Q3 2024, with several key developments affecting its business performance.
Key Financial Results:
- Overall revenue: $376.98 million (₩527.85 billion), down 1.9% YoY
- Recorded music revenue: $153.21 million, down 18.8% YoY
- Concert revenue: $52.85 million, down 14.8% YoY
- Net profit: $1.03 million, down 98.6% YoY
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Positive Growth Areas:
- Merchandise and licensing: Up 15.7% YoY to $70.73 million
- Content revenue: Up 63.6% YoY to $56.90 million
- Fan-club category: Up 23.4% YoY to $18.54 million
Notable Q4 2024 Releases:
- Seventeen's "Spill the Feels" (Released)
- Enhypen's repackaged second album (November 11)
- Jin's debut solo album "Happy" (November 15)
Future Outlook:
- BTS reunion expected in 2025 after all members complete military service by June 2024
- Expansion into non-K-pop markets through acquisitions like Exile Music and Quality Control
- Weverse platform growth with 9.7 million monthly active users
- New features and label-focused subscriptions in development
The company's strategy focuses on diversifying beyond K-pop while maintaining strong physical sales and streaming revenue in its core market. Despite current challenges, Hybe continues to expand its global presence and prepare for future growth opportunities.
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