HYBE Labels reports its total sales + operating profits for the 2nd quarter of 2022

BTS News

On August 3, HYBE Labels revealed its total sales and operating profits for the 2nd quarter of 2022.

First, HYBE reported a total sales amount of 512.2 billion KRW (~ $391 million USD) in the 2nd quarter of 2022, an 83.8% increase from the same quarter in 2021. The company also reported a total operating profit of 88.3 billion KRW (~$ 67.5 million USD), a whopping 215.3% increase from the same quarter in 2021.

In the 2nd quarter of 2022, HYBE Labels acquired approximately 64% of sales from label artist concerts and album sales. Under the multi-label system, HYBE Labels teams including BTS, Seventeen, TOMORROW x TOGETHER and ENHYPEN sold over 1 million albums each. (Of the listed artists and their album sales, ENHYPEN’s album sales will count toward the 3rd quarter of 2022.) Overall, HYBE Labels artists sold a total of 8.53 million albums in the 2nd quarter of 2022, a whopping 42% of the Circle Chart’s total album sales for this quarter.

Furthermore, the company recorded over 85 billion KRW (~$ 65 million USD) in sales from artists’ concerts, including from BTS’s ‘Permission To Dance – Las Vegas’ and Seventeen’s Seoul concert.

Meanwhile, HYBE Labels intends on strengthening its multi-label system, seeking to debut more new artists in 2023. The company is currently preparing to launch its new boy group in Japan through the ‘&AUDITION’ project by the 4th quarter of 2022. In 2023, the company is expected to focus on the launch of its first American idol group.