Dream Wired
No Result
View All Result
  • Home
  • Celebrity
  • DramaAlert
  • Gossip
  • Movie
  • TV
  • Music
  • Comics
  • Shop
  • Home
  • Celebrity
  • DramaAlert
  • Gossip
  • Movie
  • TV
  • Music
  • Comics
  • Shop
No Result
View All Result
Dream Wired
No Result
View All Result
Home Music

HYBE Revenue Falls Sharply, Gets Strong Debuts by TWS and ILLIT

rmtsa by rmtsa
May 2, 2024
in Music
0
HYBE Revenue Falls Sharply, Gets Strong Debuts by TWS and ILLIT
74
SHARES
1.2k
VIEWS
Share on FacebookShare on Twitter


You might also like

DC x Sonic the Hedgehog Figures at Target: How to Shop

Pi’erre Bourne, Russ, Lizzo and More

PEEKABOO Taps Scrufizzer for Snarling Dubstep Track, "One More Time"

K-pop giant HYBE posted its lowest total revenue in two years as its recorded music segment sank to its lowest level in seven quarters, the South Korean company announced Thursday (May 2). 

Explore

Explore

See latest videos, charts and news

See latest videos, charts and news

HYBE had first quarter revenue of 360.9 billion won ($271.5 million), down 12.1% year over year and the lowest since posting 285 billion won ($214.4 million) in the first quarter of 2022. Operating profit fell precipitously to 14.4 billion won ($10.8 million), down 72.6% from the prior-year period. 

HYBE’s share price was barely affected by the slowest quarter in years. The share price initially rose 1.7% to 205,500 won ($149.23) but my midday had fallen to 201,500 ($146.33), down 0.2%. The stock is down 13.7% year to date, however, and fell 12.6% last week following news that HYBE will report the CEO of its ADOR imprint, Min Hee-jin, to the police for “breach of trust and other related allegations.”

Earnings before interest, taxes, depreciation and amortization (EBITDA), a measure of profitability that strips out non-cash items, was 39.8 billion won ($29.9 million), down 45% year over year and the lowest since the first quarter of 2021. 

Concerts revenue of 44 billion won ($33.1 million) was up 74.5% year over year. Although that was the biggest year-over-year increase of any category, the first quarter of 2023 was abnormally slow. HYBE’s latest quarter was on par with 45.3 billion won ($34.1 million) of concert revenue in the fourth quarter of 2021, the first quarter the company had performances after COVID-19 restrictions shut down the touring industry. 

Recorded music, the company’s largest segment at 40.2% of total revenue, fell 21.3% to 145.1 billion won ($109.2 million). HYBE successfully debuted two new groups during the quarter. Sparkling Blue, the debut EP by PLEDIS Entertainment boy band TWS, sold 260,000 units in its first week for and accumulated 500,000 units in the first nine weeks of release. Girl group ILLIT’s EP, Super Real Me, released through BELIFT LAB, sold 380,000 units in its debut week and reached the 500,000-unit mark in just four weeks. The single “Magnetic” debuted at No. 91 on the Billboard Hot 100 singles chart in April. 

Merchandising and licensing fell 11.9% to 60.7 billion won ($45.7 million). Contents fared worse, dropping 29.8% to 61.1 billion won ($46 million). 

Weverse, HYBE’s social media platform, saw its monthly active users (MAUs) decline for the second quarter. After reaching a peak of 10.6 million MAUs in the third quarter of 2023, MAUs fell to 10.1 million in the fourth quarter and 9.2 million in the first quarter. Both average revenue per paying user and payment amount fell below levels reached in 2022 and 2023; HYBE does not provide specific numbers for either metric. 



Source link

Tags: debutsFallsHYBEILLITRevenueSharplyStrongTWS
Share30Tweet19
rmtsa

rmtsa

Recommended For You

DC x Sonic the Hedgehog Figures at Target: How to Shop

by rmtsa
June 27, 2025
0
DC x Sonic the Hedgehog Figures at Target: How to Shop

All products and services featured are independently chosen by editors. However, Billboard may receive a commission on orders placed through its retail links, and the retailer may receive...

Read more

Pi’erre Bourne, Russ, Lizzo and More

by rmtsa
June 27, 2025
0
Pi’erre Bourne, Russ, Lizzo and More

The last week of the month of June is stacked with new hip-hop releases. This week, a hit-making producer drops a solo LP, an indie rapper with a...

Read more

PEEKABOO Taps Scrufizzer for Snarling Dubstep Track, "One More Time"

by rmtsa
June 27, 2025
0
PEEKABOO Taps Scrufizzer for Snarling Dubstep Track, "One More Time"

PEEKABOO has joined forces with UK grime vet Scrufizzer for a new single, "One More Time."Out now via Major Recordings, Warner's flagship electronic dance music imprint, the snarling dubstep track is...

Read more

Fans Think Vince Neil Fell For a Spicy AI Thirst Trap on X

by rmtsa
June 27, 2025
0
Fans Think Vince Neil Fell For a Spicy AI Thirst Trap on X

Fans seem to have noticed that Vince Neil has been engaging models on X, one of which many suspect is an AI-generated woman.Back in the '80s, Motley Crue used...

Read more

The Artist Ozzy Osbourne Still Wants to Do a Duet With

by rmtsa
June 26, 2025
0
The Artist Ozzy Osbourne Still Wants to Do a Duet With

Ozzy Osbourne recently admitted that although he's not a huge fan of doing duets, there is one particular musician he wants to do one with.The Prince of Darkness discussed...

Read more
Next Post
Titanic, PCP and chowder: New details about drugging on 1996 film set in Halifax revealed

Titanic, PCP and chowder: New details about drugging on 1996 film set in Halifax revealed

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Browse by Category

  • Celebrity
  • Comics
  • DramaAlert
  • Gossip
  • Movie
  • Music
  • TV
  • Uncategorized

CATEGORIES

  • Celebrity
  • Comics
  • DramaAlert
  • Gossip
  • Movie
  • Music
  • TV
  • Uncategorized
No Result
View All Result

Recent News

  • Black Women In Music Are Setting The Beauty Rules For 2025—And We’re Taking Notes – Essence
  • Taika Waititi’s Live-Action Movie Gets Disappointing Update
  • Aubrey O’Day Speaks On Diddy Trial Amid Closing Arguments

Copyright © 2023 DramaWired.
DramaWired is a content aggregator and not responsible for the content of external sites.

No Result
View All Result
  • Home
  • Celebrity
  • DramaAlert
  • Gossip
  • Movie
  • TV
  • Music
  • Comics
  • Shop

Copyright © 2023 DramaWired.
DramaWired is a content aggregator and not responsible for the content of external sites.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In