HYBE Announces 2024 Annual Sales, Concert Sales Soar Thanks To SEVENTEEN, Enhypen & TXT
On February 25th, HYBE stated, “After becoming the first Korean entertainment agency to surpass 2 trillion won in annual sales in 2023, we once again recorded the highest revenue in 2024 with our performance continuing its upward trend”.
HYBE’s consolidated sales in 2024 reportedly reached 2.2545 trillion won, the highest in the agency’s history, increasing 4% compared to that of the previous year. Direct participation revenue dropped by 1.8% year-on-year to 1.4453 trillion won, while indirect participation revenue rose by 14.5% to 809.3 billion won during the same period. Although album physical sales, which hold a significant share of direct participation revenue, declined by 11.3% compared to the previous year, concert sales witnessed a sharp increase of 25.6%, offsetting the decrease in album sales.
HYBE artists accounted for 40% of albums sold album in 2024 recorded by Circle Chart. SEVENTEEN became a ten-million seller for the second time following last year, while TXT placed two albums in the Top 10 and saw all three 2024 releases rank on Japan’s Oricon Yearly Chart. Enhypen sold 5.45 million copies of their album, securing spots on the U.S. and Japan annual album charts. Newjeans ranked No.1 among K-pop female artists, with their album surpassing 3 million copies, and BOYNEXTDOOR became a million seller within only 1.5 years after their debut. In terms of digital sales, HYBE artists continued to shine brightly with 15 songs ranking in Top 20 of Circle Chart’s Global K-pop chart. Songs released by BTS members, LE SSERAFIM, and even rookie groups like TWS and ILLIT recorded remarkable achievements.
In 2024, HYBE artists held a total of 147 concerts and 25 fanmeetings, recording the highest concert sales since the agency’s foundation. This also helped increase the sales of merchandise. SEVENTEEN, Enhypen and TXT were reportedly the Top 3 with the most concert performances. In addition, HYBE America also made notable achievements.
However, HYBE’s consolidated operating profit in 2024 was 184.8 billion won, marking a 38% decrease from the previous year. This decline was influenced by BTS’s hiatus due to military service as well as changes in revenue distribution with the debut of multiple rookie groups, investment in KATSEYE’s activities in the US, and expenses for expansion in the Latin American market.
