HYBE Q3 profit down; sees better 2025 after BTS’ military discharges

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On Tuesday, HYBE reported a 25.4% drop to 54.2 billion won ($39 million) in operating profit in the July-September quarter, compared with the same period of last year.Net profit plummeted 98.6% to 1.4 billion won in the same period, with revenue down 1.9% to 527.8 billion won, hit by a decline in music album and download sales.

HYBE Co., the K-pop behemoth behind BTS, suffered a double-digit profit fall in the third quarter amid the ongoing feud with Min Hee-jin, the creative director of the girl group NewJeans and the absence of new albums released during the 2024 Paris Summer Olympics.

In June, Jin, the oldest member of the group, finished the mandatory national service and J-Hope wrapped up the service in October.“The remaining BTS members are scheduled to be discharged from the military in June next year and the day to see all its seven members in a group is getting closer,” said a HYBE official.

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Category: Economy

Markets: South KoreaJapanOman

Topics: Girl Group Quarter First Revenue 2024 Album Profit Year Third Hybe

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Published On: 2024-11-05 @ 17:10:55 (3 hours ago)

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