This marked a recovery from Q1 2024 when HYBE\u2019s revenue dropped<\/a> 12.1% YoY<\/b> to KRW 360.92 billion<\/b> ($251.7m).<\/p>\n Concert revenue emerged as the standout performer, more than tripling YoY to KRW 155.2 billion <\/b>($108m) from KRW 44 billion ($30.7m), defying the market\u2019s forecast<\/a> for a 48.6%<\/b> drop in concert revenue to KRW 74.6 billion ($52m).<\/p>\n HYBE\u2019s concert segment surpassed expectations following successful solo and world tours from j-hope <\/b>of BTS, SEVENTEEN, TOMORROW X TOGETHER, ENHYPEN, <\/b>and BOYNEXTDOOR<\/b>. HYBE attributed the growth to its multi-label system that allowed more artist groups \u201cto grow to the level where they can successfully carry out world tours.\u201d<\/p>\n The segment\u2019s strong performance helped boost revenue for HYBE\u2019s \u201cartist direct-involvement\u201d segment to KRW 322.5 billion <\/b>($225m) of total revenue in Q1, accounting for 64%<\/b> of the group\u2019s total. The figure was up 48.6% <\/b><\/span>from last year.<\/p>\n Meanwhile, the company\u2019s \u201cartist indirect-involvement\u201d segment, which includes merchandising and licensing, content, and the Weverse<\/b> fan platform, reported revenue of KRW 178.1 billion<\/b> ($124m) up 23.7% YoY<\/b><\/span>.<\/p>\n The growth was driven by a 75% YoY<\/b><\/span> jump in merchandise and licensing revenue to KRW 106.4 billion<\/b> ($74m), as well as strong sales of tour-related merchandise and character merchandise inspired by artists like SEVENTEEN\u2019s MINITEEN<\/b>, TOMORROW X TOGETHER\u2019s PPULBATU<\/b>, and LE SSERAFIM\u2019s FIM’S CLUB<\/b>.<\/p>\n Weverse posted 10 million<\/b> monthly active users (MAUs) in Q1, up from 9.4 million in Q4 2024 and from 9.2 million MAUs in Q1 2024. During the quarter, Weverse launched<\/a> \u2018Listening Party,\u2019<\/b> a service allowing artists and fans to gather online for shared music experiences, powered by a Spotify<\/b> integration. HYBE hinted that Apple<\/b> Music<\/b> support is coming soon.<\/p>\n At the start of the year, HYBE revealed<\/a> that Weverse hit the milestone of 150<\/b> million<\/b> cumulative global downloads in 2024. Weverse President Joon Choi<\/b> told<\/a> MBW <\/i>earlier this month that \u201c90%<\/b> of our traffic comes from regions outside of Korea, which means that most of our users are global superfans.\u201d<\/p>\n With Weverse\u2019s growth, HYBE\u2019s revenue from fan clubs jumped 39% YoY <\/b><\/span>to KRW 30.5 billion <\/b>($21m), offsetting the 32.7% YoY<\/b><\/span> drop in revenue from content to KRW 41.2 billion <\/b>($29m).<\/p>\n Overall, HYBE\u2019s operating profit jumped 50.3% YoY<\/b><\/span> to KRW 21.6 billion<\/b> ($15m) in Q1, falling short of the market\u2019s consensus forecast<\/a> of KRW 53.1 billion ($37m). Kim Yoo-hyeok<\/b>, a researcher at IBK Securities<\/b>, had earlier attributed this to \u201cthe lack of album releases except for BSS<\/b>, Hoshi<\/b>, and Woosung<\/b>, and LE SSERAFIM.\u201d<\/p>\n However, HYBE\u2019s performance still marked a recovery from last year when Q1 operating profit nosedived 72.6% YoY<\/b> to KRW 14.34 billion<\/b> ($10m). Net profit in Q1 2025 soared 398% YoY <\/b><\/span>to KRW 55.3 billion<\/b> ($39m).<\/p>\n Looking ahead, HYBE expects the trend to continue for the rest of the year, with over 150<\/b> concerts featuring HYBE artists lined up and additional engagements expected to be added in the second half of 2025.<\/p>\n For Q2 2025, the company said it expects \u201cgrowth in both revenue and operating profit\u201d as most artists are expected to make comebacks and resume activities. BTS\u2019s Jin<\/b> is set to drop his second solo album and launch his first-ever solo tour in June, while SEVENTEEN, ENHYPEN, and BOYNEXTDOOR are also set to release new materials.<\/p>\n Elsewhere, LE SSERAFIM recently went on their first world tour in Asia and North America, while girl group KATSEYE<\/b> are expected to return with a new single on April 30 and perform at the 2025 Lollapalooza in Chicago.<\/p>\n HYBE is also set to debut a J-pop boy band called aoen<\/b> in June. The seven-member boy band was formed via an audition aired on Japan\u2019s Nippon TV<\/b> that aired from February. Additionally, BIGHIT MUSIC<\/b>, home of BTS<\/b> and TOMORROW X TOGETHER, is also slated to introduce a new boy group in Q3 2025.<\/p>\n HYBE also continues to expand its presence globally. The company\u2019s Latin America arm recently teamed up<\/a> with Spanish-language television network Telemundo<\/b> to launch Pase a la Fama, <\/i>described as a first-of-its-kind music competition series focused on creating the next great\u00a0Regional Mexican band.<\/b><\/p>\n HYBE said \u201chundreds of artists auditioned\u201d for the show, but only 55<\/b> will be selected to join a \u201crigorous artistic camp\u201d.<\/p>\n
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