Seventeen and Suga played a part in HYBE's quarterly revenue gain.
A revitalized global concert business and more artists on tour helped HYBE's concert revenue improve 85.4% to 157.5 billion won .attracted 290,000 fans to 28 concerts in 10 cities across South Korea, the United States, Southeast Asia and Japan. HYBE plans to have 111 concerts by seven artists in 2023, almost double the 59 concerts by four artists in 2022.
Merchandise and licensing revenue improved 13.3% to 111.9 billion won . Contents revenue dropped 28.1% to 50.8 billion won while fan clubs and other indirect revenue grew 29.4% to 21.8 billion won . Despite the strong demand for its artists' albums and concerts, HYBE’s operating profit declined 7.9% to 88.3 billion won , however, and operating margin as a percent of revenue dropped to 13.1% from 17.2% in the prior-year period. CFOattributed the decline to expenses related to BTS’s Festa concert in June to celebrate the group’s tenth anniversary and “substantial investment” infestival, also in June. Adjusted earnings before interest, taxes, depreciation and amortization declined 1.
Weverse, HYBE’s in-house social media platform, finished the second quarter with a record 9.5 million monthly active users, up 200,000 MAUs from 9.3 million in the first quarter and more than 50% greater than the 6 million MAUs in the second quarter of 2022.
Shares of HYBE rose as much as 4.6% to 287,000 won on the South Korea Stock Exchange Tuesday morning. As of Monday’s closing price, HYBE’s share price had gained 58.2% year to date.
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