HYBE Labels artists continue to achieve historic success
This outstanding performance is effectively dispelling concerns about the growth of K-pop. Notably, the success extends to both traditional album sales and the streaming domain, attracting curiosity about the reasons behind this.
According to HYBE on Nov 25th, Jungkook’s solo album “GOLDEN” is setting new sales records domestically and internationally. “GOLDEN” sold 2,147,389 copies on its first day of release, marking the highest first-day sales for any solo artist in Korea. Within the first week of release, “GOLDEN” sold 2,438,483 copies, making Jungkook the Korean solo artist with the highest first-week sales.
“GOLDEN” achieved another milestone as the first solo album by a K-pop artist to surpass 200,000 copies in sales in the first week of release in the United States. The success of “GOLDEN” is attributed to collaborations with renowned artists facilitated by HYBE America’s network, showcasing high-quality music and performances.
SEVENTEEN’s record-breaking streak is ongoing, with their 11th mini album “SEVENTEENTH HEAVEN” surpassing 5 million copies in first-week sales, a historic feat in K-pop. When combined with the achievements of their 10th mini album “FML” released in April, SEVENTEEN has sold over 16 million albums in just one year, an unprecedented accomplishment in the K-pop industry.
TXT’s “The Name Chapter: FREEFALL” sold 2.25 million copies in the first week after release. This set a new record for their own first-week sales, making them the first K-pop artist to achieve consecutive “double million sellers” in the shortest period (4 years and 7 months) after debut.
ENHYPEN’s momentum is also remarkable, with their 5th mini album “ORANGE BLOOD” released on Nov 17th causing a sensation. With first-day sales reaching 1,383,292 copies, it surpassed the first-week sales of their 4th mini album “DARK BLOOD” (1.32 million copies).
The career highs of HYBE artists are significant, especially considering the concerns about uncertainty in the music market. This achievement sets them apart from other K-pop companies.
The decoupling phenomenon is a result of HYBE’s expansion strategy over the past few years, engaging in various initiatives such as acquisitions, mergers and collaborations with global music companies. The recent establishment of a Latin American subsidiary further expands their reach. This strategic approach not only overcomes regional limitations but also broadens the spectrum of “fandom”, the core customer.
HYBE Labels artists’ new records continue in the streaming sector as well. LE SSERAFIM’s “Perfect Night” became the first English song by a K-pop girl group to top Melon’s “Top 100” and daily chart. The theme song “GODS” by NewJeans for the “2023 LoL World Championship” set records for the most music video views and Spotify streaming on the first day among championship theme songs.
The combined effect of albums and streaming has significantly boosted HYBE’s performance, resulting in the highest-ever quarterly performance in the third quarter of this year. This success is attributed to aggressive investments for global expansion, reducing the dependence on specific regions.
HYBE’s ongoing efforts to expand the scope of K-pop are expected to accelerate the decoupling phenomenon. Their continuous mergers and acquisitions (M&A) and collaborations with global music companies to build a network of top-tier composers and producers further differentiate HYBE. This has laid the foundation for maintaining a robust growth trajectory, independent of geographical risks.
The market also responds positively to HYBE’s expansion strategy, with investment firms acknowledging the positive impact of their multi-label and acquisition strategies. HYBE emphasizes that the exceptional abilities of their artists, fan support and comprehensive expansion strategies are driving their success, and they are committed to establishing a sustainable growth structure through aggressive investments.
Source: daum
