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.
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.
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.
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.