HYBE (previously generally known as Big Hit Entertainment) has revealed its monetary efficiency for the primary quarter of 2021.
On May 4, HYBE formally introduced their earnings and gross sales figures for the primary quarter of the yr (topic to alter following exterior audit). For January to March 2021, the corporate reported income of 178.3 billion received (roughly $158.3 million) and an working revenue of 21.7 billion received (roughly $19.3 million).
Compared to the corporate’s efficiency within the first quarter of 2020, the figures marked a 29 % rise in income and a 9 % improve in working revenue.
HYBE additionally reported that it had seen a dramatic improve in income from merchandise gross sales, licensing, and artist-related content material. Revenue from artist-related merchandise gross sales rose by 89 % to 64.7 billion received (roughly $57.5 million), whereas income from artist-related content material soared by a whopping 360 % to 37.2 billion received (roughly $33 million).
According to HYBE, income from promoting and artist appearances additionally rose by 63 %, whereas income from fan golf equipment elevated by 24 %.
Meanwhile, international fan neighborhood platform Weverse reported a median of 4.9 million month-to-month energetic customers for the primary quarter of 2021, marking a slight improve from the fourth quarter of 2020.
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