HYBE Labels has definitely become one of the most successful Korean entertainment labels in the last couple of years. With artists like BTS, SEVENTEEN, NewJeans, and others under their various subsidiaries, there’s no denying the label deserves the title as one of the “Big Four” in the industry alongside SM Entertainment, JYP Entertainment, and YG Entertainment.
And their sales and net profit prove it. Recently, this data for the first three quarters of 2023 were shared for HYBE Labels’ subsidiaries, and it shows just how much of a profit the company has made this year so far!
First is BIGHIT MUSIC, home to BTS themselves as well as TXT. Their total sales are estimated to be around 409.5 billion won (~$315 million USD), with a net profit of 107.2 billion won (~$82 million USD) or about 26% of their sales. This is especially impressive with no group BTS activities this year!
Pledis Entertainment made the second-highest net profit in 2023 so far, thanks to their artists SEVENTEEN and fromis_9. Their total sales were around 240 billion won (~$184 million USD) and their net profit was 43.3 billion won (~$33 million USD) or about 18% of their sales.
ADOR, the home of NewJeans alone, was especially impressive with their profit this year! Their total sales are listed at 87.3 billion won (~$67 million USD) and their net profit at 20.5 billion won (~$15 million USD), giving them a net profit of about 23.5%. It just goes to show how successful NewJeans already are, even as rookies!
Next up, Source Music also made a name for themselves thanks to LE SSERAFIM. Their sales numbers are shared as 49.1 billion won (~$37 million USD) while their net profit is 9.4 billion won (~7.2 million USD) or about 19.5%. Definitely not numbers to be scoffed at!
Finally, KOZ Entertainment is the only subsidiary who actually made a negative net profit this year after the debut of their new boy group, BOYNEXTDOOR. While they made a sales number of 15.3 billion won (~$11 million USD), their net profit is listed as -5.5 billion won (~4.2 million USD), or about 36%. But given that a lot of money is put into a new group’s debut, it’s likely that 2024 will have much better results.
Here’s how netizens are reacting to the sales and net profit numbers from HYBE Labels’ subsidiaries on a forum post discussing the subject.
It will be interesting to see how the last quarter of 2023 changes these final numbers for the entire year!