Tue. May 18th, 2021


These optimistic first-quarter outcomes don’t, nevertheless, come near the corporate’s spectacular earlier quarter, This autumn 2020. Then, nonetheless with out touring earnings, HYBE produced livestreamed live shows and had robust music gross sales — 159% higher than 2021’s first quarter — and closed 2020 with quarterly income of $278 million and a $23.7 million revenue.

HYBE didn’t present steerage on live performance income in 2021, saying “with pandemic circumstances nonetheless in place, forecasts are nonetheless unclear on the opportunity of in-person live shows within the second half of this yr.” Within the meantime, HYBE mentioned it can supply extra livestream live shows and “different numerous content material.”

A lot of the earnings launch targeted on HYBE’s acquisition of Scooter Braun’s Ithaca Holdings, which was introduced April 2, noting it was the the most important acquisition “in historical past for a Korean leisure firm and the primary acquisition of a global label.” It outlined how the deal helps HYBE’s “fandom growth,” as HYBE calls it: Ithaca will increase HYBE’s YouTube subscribers from 120 million to 290 million and social media followers from 440 million to 1.26 billion. HYBE plans to take Ithaca artists onto its WeVerse platform, which had 4.9 million month-to-month energetic customers within the first quarter.

HYBE’s earnings presentation additionally laid Ithaca’s enterprise segments: SB Tasks is expertise administration; Huge Machine is the report label and writer; Silent Content material Ventures homes premium content material comparable to TV exhibits, documentaries, motion pictures and different content material that may now leverage HYBE artists; and Enterprise & Client homes “client manufacturers based mostly on artist IP.”

In March, HYBE modified its identify from Huge Hit Leisure and restructured itself into three segments: Huge Hit Music homes the labels BELIFT Lab, Supply Music, PLEDIS Leisure and KOZ Leisure; HYBE IP and HYBE 360 encompasses HYBE Edu and Very good; and WeVerse is HYBE’s social media platform that had 4.9 million month-to-month common customers throughout 2021’s first quarter, up from 2.4 million a yr earlier.

Aside from the full income figures, the beneath metrics are supplied in Korean received (KRW) and could be transformed at $1 to 1,125.9 received.

Monetary metrics:

  • Income: 178.3 billion KRW ($158.7 million) in Q1 2021 — up 29% from 138.5 billion KRW ($120.6 million) in Q1 2020; down 43% from 312.3 billion KRW ($277.9 million) in This autumn 2020.
  • Working revenue: 21.7 billion KRW in Q1 2021 — up 9% from 19.9 billion KRW in Q1 2020; down 39% from 256.7 million KRW in This autumn 2020.
  • Web revenue: 15.8 billion KRW in Q1 2021, up 11% from 14.2 billion KRW in Q1 2020; down 41% from 26.7 billion in This autumn 2020.

Income streams metrics: 

  • Albums: 54.5 billion KRW in Q1 2021 — up 33% from 80.8 billion KRW; down 61% from 80.8 billion KRW in This autumn 2021.
  • Concert events: 0 KRW in Q1 2021 — down 100% from 100 million KRW in Q1 2020; even at 0 KRW in This autumn 2020.
  • Advertisements and appearances: 13.0 billion KRW in Q1 2020 — up 63% from 8.0 billion KRW in Q1 2020; down 5% from 13.8 billion KRW in This autumn 2020.
  • Merchandise and licensing: 64.7 billion KRW in Q1 2021 — down 89% from 34.3 billion KRW in Q1 2020; down 4% from 67.3 billion KRW in This autumn 2020.
  • Content material: 37.2 billion KRW in Q1 2021 — up 360% from 7.2 million KRW in Q1 2020; down 54% from 80.9 billion KRW in This autumn 2020.
  • Fan golf equipment and different: 8.9 billion KRW in Q1 2021 — up 24% from 7.2 billion KRW in Q1 2020, down 6% from 9.5 billion KRW in This autumn 2020.



Source link

Picture Supply : www.billboard.com – https://www.billboard.com/articles/enterprise/9567500/hybe-bts-label-first-quarter-earninigs-report/

DISCLAIMER:
Beneath Part 107 of the Copyright Act 1976, allowance is made for “truthful use” for functions comparable to criticism, remark, information reporting, instructing, scholarship, and analysis. Honest use is a use permitted by copyright statute which may in any other case be infringing.”

By p x

Leave a Reply

Your email address will not be published. Required fields are marked *