HYBE Experiences 50% Growth Rate in 2021 Q2; Yet Lower Than Expected

HYBE, the home to majority K-Pop idols, revealed the company’s revenue soared up by approximately 80%, in the quarter 2 of 2021. The net profits, on the other hand increased to $244 million. Moreover, the overall Q2 growth has gone up by 50% without any song release in the specified time, other than routinely performances.

“HYPE’s sales are expected to increase by 80% in the third quarter of the year to 342.6 billion won. The business profit may reach 72 billion won (79% higher than last year) in which 60 billion won is included from BTS/TXT albums selling, the No.1 on HOT 100 Chart for 10 weeks and still counting, fanmeetings and MD, etc” says Researcher Hana Financial Investment Co., Lee Ki Hoon.

The parent company of Big Hit Entertainment, HYBE, reported a year-on-year increase by 56% overall.

The company launched its shares on the KOPSI stock market in Korea in October in 2020, at KRW135,000 per share. The stock however, saw its value doubling instantly on the same day.

Not only Korean bands such as the famous boyband BTS, TXT, EYPHEN and GFRIEND come under the umbrella of HYBE, but also the pop star Ariana Grande and Hollywood’s favorite Justin Bieber have signed with the South Korean entertainment company.

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