Hive Sets New Record for Highest-Ever Quarterly Revenue in Q2... Operating Profit Up 29.5%

Revenue Up 10.2% Year-on-Year
Strong Performance in Artists' World Tours and Merchandise Sales

Hive set a new record for its highest-ever quarterly revenue in the second quarter of this year. The strong performance was driven by robust sales from its artists' concerts and albums.

On August 6, Hive announced in a regulatory filing that its consolidated revenue for the second quarter of this year was provisionally tallied at KRW 705.7 billion, a 10.2% increase compared to the same period last year. During the same period, operating profit rose by 29.5% to KRW 65.9 billion, and net profit increased by 53.5% to KRW 15.5 billion.

The operating margin climbed from 7.9% last year to 9.3%, up by 1.4 percentage points.

Hive logo.

Revenue directly linked to artists' activities, known as direct participation sales, amounted to KRW 447.9 billion out of total sales. In particular, concert revenue surged by 31% year-on-year to KRW 188.7 billion.

During the second quarter, world tours and fan concerts by Hive artists attracted approximately 1.8 million attendees. BTS members Jin and J-Hope's solo tours, Seventeen's fan meeting in Japan, and world tours by Tomorrow X Together (TXT) and Le Sserafim all enjoyed great success. A Hive representative stated, "With various artists' tours scheduled for the second half of the year, the strong performance in the concert segment is expected to continue."

However, album sales revenue fell by 8.4% year-on-year to KRW 228.6 billion. This appears to be due to the overall decline in K-pop album sales in the current market environment.

In the album segment, BTS member Jin reached No. 3 on the 'Billboard 200' with his second mini-album 'Echo', while Seventeen secured the top spot in domestic album sales for the first half of the year with their fifth full-length album 'HAPPY BURSTDAY', released to mark their 10th anniversary. In the global music market, Jin and J-Hope of BTS each released new singles?'Don't Say You Love Me' and 'Killin' It Girl'?both of which entered the Billboard main chart 'Hot 100'.

Indirect participation sales, including merchandise (MD), licensing, content, and fan club revenue, reached KRW 257.8 billion. Among these, MD and licensing revenue rose by 40% year-on-year to KRW 152.9 billion, driven by increased sales of tour merchandise, light sticks, and character goods based on intellectual property (IP) linked to artists' tour activities. Fan club revenue also hit a record high, increasing by 46% year-on-year to KRW 34.6 billion.

Weverse recorded an average monthly active user (MAU) count of 10.9 million. In June, when all BTS members returned, Weverse achieved an all-time high of 12 million MAU. The addition of new artists, such as Japanese national band Mrs. Green Apple and actor-singer Shingo Katori, formerly of SMAP, also contributed to the increase in Weverse MAU. In the second quarter of this year, total payment volume on Weverse rose by 41% compared to the previous quarter.