Hybe Reports Record Revenue Despite 40% Profit Drop During BTS Military Break
Hybe saw a nearly 40% decline in operating profit in 2024, despite achieving its highest revenue year to date at 2.25 trillion Korean won ($1.58 billion), up 4% from 2023.
BTS members performing on stage
The profit drop was primarily attributed to BTS's military service hiatus and strategic investments in infrastructure, including the Weverse platform and gaming initiatives. Q4 2024 revenue reached 725.3 billion won ($507.5 million), with operating profit at 65 billion won ($45.5 million).
Despite BTS's absence, other Hybe artists contributed significantly to revenue:
- SEVENTEEN sold over 10 million albums between 2023-2024
- ENHYPEN and NewJeans showed strong performance
- Artist-involved promotions generated 1.45 trillion won ($1 billion)
Weverse platform growth highlights:
- North America: +26%
- Brazil: +21%
- Mexico: +14%
- Japan: +22%
- Taiwan: +54%
- New mainstream artists added: Ariana Grande, Dua Lipa, and Megan Thee Stallion
Hybe expects a significant profit rebound in 2025 with BTS's anticipated return, as members complete their mandatory military service by June. The company also projects positive returns from Weverse investments starting January 2025.
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