Despite BTS Concert's Huge Success, HYBE Stock Plummets... 'Frustration' Due to KOSPI Shock

▲ HYBE/AI Generated Image

BTS brought HYBE (352820) its highest-ever quarterly performance, but its stock price collapsed by over 16% due to the KOSPI shock.

According to the economic media outlet CNBC on July 29 (local time), HYBE recorded 1.45 trillion won in sales and 170.9 billion won in operating profit in the second quarter. This represents increases of 105.5% and 159.3% respectively compared to the same period last year. It is the first time since the company's founding that quarterly sales have exceeded 1 trillion won and operating profit has surpassed 100 billion won.

The key drivers behind the performance were BTS's album releases and world tours. Concert revenue surged by 243.3% year-on-year to 647.7 billion won, while album and music sales reached 326.8 billion won. Merchandise and intellectual property licensing revenue reached an all-time high of 310.6 billion won.

BTS began their ARIRANG World Tour in April. From May 2 to 28, they generated $127.8 million in revenue and sold 641,000 tickets across 12 performances. This is the group's highest monthly concert revenue recorded since Billboard introduced monthly tour rankings in 2019.

Twelve HYBE artists held 119 performances in the first half of the year. HYBE plans to hold over 200 more performances in the second half. The monthly average users of the fan platform Weverse in the second quarter also increased to an all-time high of 14.43 million. Payment volume and average revenue per paying user increased by 12% and 24% respectively compared to the previous quarter.

Despite record-breaking performance, HYBE's stock price closed at 188,800 won, down 16.09%. On the same day, the KOSPI plummeted by over 8%, leading to a temporary halt in trading, with a large-scale sell-off spreading, centered on Samsung Electronics and SK Hynix. HYBE CEO Lee Jae-sang stated, "Our performance has proven that HYBE functions as a key export base for the domestic cultural industry."

[Article Summary]

-Driven by BTS's world tour, HYBE recorded 1.45 trillion won in sales and 170.9 billion won in operating profit in the second quarter.

-Concert revenue surged by 243.3% to 647.7 billion won, leading to record-high performance.

-Despite its record performance, HYBE's stock price fell by 16.09% due to the KOSPI's sharp decline.

*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*