HYBE recorded its highest-ever first-quarter performance, achieving revenue close to KRW 700 billion, equivalent to approximately 520 million USD, during the entertainment industry’s traditional off-season.
The company reported consolidated revenue of KRW 698.3 billion, equivalent to 520 million USD, for the first quarter of 2026. This marks a 40 percent increase from the previous first-quarter record of KRW 500.6 billion, or 373 million USD, in the same period last year. The strong performance reflects the comeback of BTS along with rapid growth from emerging artists.
Direct participation revenue, including album sales, concerts, and advertising, rose 25 percent year-on-year to KRW 403.7 billion, or 301 million USD. Album revenue in particular surged 99 percent compared to the same period last year, reaching KRW 271.5 billion, equivalent to 202 million USD. This level is comparable to the fourth quarter of 2023, when major releases such as SEVENTEEN’s “SEVENTEENTH HEAVEN” and Jungkook’s “GOLDEN” drove album revenue to KRW 276.2 billion, or 206 million USD.
At the center of this growth was BTS’s fifth full-length album “ARIRANG.” The album sold 3.98 million copies on its first day alone. According to Luminate, the LP version recorded weekly sales of 208,000 units, the highest weekly sales for a group since tracking began in 1991.
“ARIRANG” also made history on the Billboard 200 by becoming the first album by a Korean artist to remain at number one for three consecutive weeks. Its title track “SWIM” topped the Billboard Hot 100, and all 13 tracks from the album entered the chart.
ENHYPEN achieved its fourth double-million seller with the mini album “THE SIN : VANISH.” Rookie artists also demonstrated strong performance. KATSEYE surpassed 32 million monthly listeners on Spotify, the highest figure among global girl groups. This growth contributed to both new fan acquisition and increased catalog sales. Their EPs “SIS (Soft Is Strong)” released in August 2024 and “BEAUTIFUL CHAOS” released in June 2025 have combined sales exceeding 1 million copies.
KORTIS also maintained strong momentum. Their debut album “COLOR OUTSIDE THE LINES” set a new record for K-pop debut album sales. It recorded approximately 440,000 copies in its first week, surpassed 1 million by November 2025, and exceeded 2 million cumulative sales as of February 2026.
Indirect participation revenue, including merchandise, licensing, content, and fan club services, increased 66 percent year-on-year to KRW 294.7 billion, or 219 million USD. Merchandise and licensing revenue rose 29 percent, while fan club revenue increased 69 percent. Growth was driven by BTS tour-related products such as official light sticks and character merchandise, as well as strong demand for fan club pre-sales tied to the group’s world tour.
HYBE’s global superfan platform Weverse recorded its highest performance since launch. Monthly active users averaged 13.37 million in the first quarter, representing a 20 percent increase from the previous quarter and setting a new record.
Adjusted operating profit, which reflects core business performance, reached KRW 58.5 billion, or 43.5 million USD, with an operating margin of 8.4 percent. Reported operating profit showed a loss due to a one-time accounting expense of KRW 255 billion, equivalent to 190 million USD, stemming from stock-based compensation contributed by the majority shareholder. The company stated that this was a non-cash accounting item with no actual outflow of assets.
Looking ahead to the second quarter, HYBE expects further growth in both revenue and profit. Multiple artists, including Tomorrow X Together, LE SSERAFIM, TWS, ILLIT, and KORTIS, are set to resume activities with new releases. Additional contributions from BTS’s world tour are also expected to support continued growth.
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