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HYBE Out-Sells “The Big 3,” Records Highest Revenue In K-Pop History

Nine years ago, many K-Pop fans had never heard of HYBE. Now, the agency behind BTS and TXT is breaking records and reigning supreme over the Korean music industry.

HYBE headquarters | HYBE/Facebook

On February 22, HYBE released its Q4 2021 Earnings Report, an annual revenue record that includes album sales, advertisement revenue, concert earnings, and more. Last year, HYBE surpassed ₩1 trillion KRW ($838,399,200 USD) in annual earnings, which includes in-person concerts and online concerts. It is the first Korean music agency in history to do so.

BTS performing in concert in Los Angeles | HYBE/Facebook

Many businesses have taken a financial hit from the COVID-19 pandemic, but HYBE’s sales soared higher than ever. 2021 concert sales increased 980.5% from the previous year, earning ₩49.7 billion KRW ($41,672,605 USD). The majority of those earnings, ₩49.7 billion KRW, were from 2021’s fourth quarter alone, thanks largely to BTS’s PERMISSION TO DANCE concerts in Los Angeles.

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HYBE has also announced some exciting plans for 2022. HYBE plans to enter the NFT space by mid-year and introduce new games this summer. Offline concerts for BTS, TXT, and ENHYPEN will be held at home and overseas. This includes a highly anticipated world tour for BTS.

TXT with fans in concert.

Source: HYBE and Yonhap News



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