HYBE Corp., which manages K-pop artists like BTS, Seventeen, Tomorrow X Together (TXT) and ENHYPEN, has released its earnings report for the third quarter of 2022.
According to the company, HYBE earned a revenue of 445.499 billion won ($312.3 million) for the third quarter of the year, up by 30.6 percent compared to the same period last year but down 13 percent compared to the second quarter.
Of the revenue, activities with the direct involvement of its artists such as albums, concerts, ads, appearances and management earned 206.235 billion won ($144.64 million), an increase of 26.2 percent compared to the same period last year but down 36.7 percent compared to the second quarter.
Album sales of HYBE artists in the third quarter garnered 129.198 billion won ($90.6 million), down by 0.4 percent compared to the same period last year.
Concerts of HYBE artists earned 47.232 billion won ($33.13 million) while ads, appearances and management earned 29.805 billion won ($20.9 million).
On the other hand, revenues from artists’ indirect involvement consisting of merchandising and licensing, content and fan club earned 239.264 billion won ($167.82 million), up by 34.7 percent compared to the same period last year.
HYBE posted an operating profit of 60.572 billion won ($2.48 million), down 7.7 percent from the same period last year.
Its net profit for the third quarter totaled 94.924 billion won ($66.57 million), an increase of 91 percent compared to the same period last year.