K-Pop’s “Big 4” companies (HYBE, JYP Entertainment, YG Entertainment, and SM Entertainment) have released their profits for 2021’s first quarter. Here is how much HYBE’s profits have increased over the last three years.
With the release of BTS‘s Love Yourself: Tear and Love Yourself: Answer albums, Big Hit Entertainment‘s profits soared. In 2018, the company’s revenue added up to a whopping 214.2 billion won ($189.5 million USD) with an operating profit of 64.1 billion won ($56.7 million USD), and a net profit of 50.2 billion won ($44.4 million USD).
Revenue increased by 132%, operating profit by 97%, and net profit by 105% compared to 2017, the year BTS released their albums You Never Walks Alone and Love Yourself: Her.
In 2019, Big Hit Entertainment continued to grow, acquiring Source Music under Big Hit Labels. BTS released their record-breaking album, Map of the Soul: Persona, and Big Hit Entertainment debuted their second boy group, TXT. Sales from Map of the Soul: Persona and TXT’s albums The Dream Chapter: Magic and The Dream Chapter: Star contributed to the company’s overall revenue.
Big Hit Entertainment brought in 587.2 billion won ($507.9 million) in 2019, a year-by-year growth of approximately 95% from 2018’s 214.2 billion won ($189.5 million USD). Co-CEOs Bang Si Hyuk and Lenzo Yoon reported an increase of 23.5% for the company’s operating profit (98.7 billion won or $85.4 million USD).
In 2020, Big Hit Entertainment saw massive growth in both profits and their expansion as a corporation. Big Hit Labels became the majority shareholder of Pledis Entertainment, home to NU’EST and SEVENTEEN. It also acquired KOZ Entertainment, Zico‘s record label. Belift Lab, a subsidiary of Big Hit Labels, debuted its first boy group, ENHYPEN, in November 2020.
The company reported 796.3 billion won ($716.67 million USD) in revenue, with an operating profit of 142.2 billion won ($128.8 million USD) and a net profit of 86.2 billion won ($77.58 million USD). Revenue increased by 36% compared to 2019, with a 44% increase in operating profit, and a 19% increase in net profit.
Sales for performances decreased due to the COVID-19 pandemic, but sales related to merchandise and licensing, content, and fan club goods rose by 53%, 71%, and 66% respectively.
Earlier this year, Big Hit Entertainment rebranded as Big Hit Music under HYBE, and HYBE continued to expand, acquiring Ithaca Holdings in the US. Out of the “Big 4,” HYBE saw the highest net income of 2021’s first quarter: 15.8 billion won (about $14.0 million USD).
The company’s operating profit was 21.7 billion won (about $19.3 million USD) after generating 178 billion won (about $158 million USD) in revenue between January and March. BTS’s, TXT’s, and ENHYPEN’s spring comebacks are all expected to boost revenue for the company’s second quarter.