These constructive first-quarter outcomes don’t, nonetheless, come near the corporate’s spectacular earlier quarter, This fall 2020. Then, nonetheless with out touring revenue, HYBE produced livestreamed concert events and had robust music gross sales — 159% better 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 concert events within the second half of this 12 months.” Within the meantime, HYBE stated it is going to supply extra livestream concert events and “different numerous content material.”
A lot of the earnings launch centered on HYBE’s acquisition of Scooter Braun’s Ithaca Holdings, which was introduced April 2, noting it was the the biggest acquisition “in historical past for a Korean leisure firm and the primary acquisition of a world label.” It outlined how the deal helps HYBE’s “fandom enlargement,” 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 document label and writer; Silent Content material Ventures homes premium content material similar to TV exhibits, documentaries, films and different content material that may now leverage HYBE artists; and Enterprise & Shopper homes “client manufacturers primarily based 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 12 months earlier.
Apart from the overall income figures, the beneath metrics are supplied in Korean received (KRW) and may be transformed at $1 to 1,125.9 received.
- 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 fall 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 fall 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 fall 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 fall 2021.
- Live shows: 0 KRW in Q1 2021 — down 100% from 100 million KRW in Q1 2020; even at 0 KRW in This fall 2020.
- Adverts 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 fall 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 fall 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 fall 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 fall 2020.