RESOLVING THE LEDGER
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HYBE Music Group reported BTS ‘ world tour sales of its ARIRANG album helped drive record-high quarterly revenue of 1.45 trillion Korean won ($987 million) and record operating profit of 170.9 billion Korean won ($116 million).
Revenue from recorded music sales, concerts, advertisements and appearances, which HYBE lumps together as “artist direct involvement revenue,” totaled 1.04 trillion won ($708 million) in the second quarter ending June 30. That marks a 132%-increase from the year-ago quarter.
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BTS had the highest-grossing and best-selling tour in May, beating The Rolling Stones ’ biggest monthly gross by a group since Billboard began its Top Tours chart in 2019, grossing $127.8 million and selling 641,000 tickets over 12 shows between May 2-28. This was the K-pop group’s second straight month in the No. 1 spot for tours, and its fourth month hitting No. 1 since May 2019. Only five acts have spent more time on top since the chart’s launch in 2019: Bad Bunny , with nine months; Beyoncé , Coldplay , and Elton John , each with seven; and Trans-Siberian Orchestra with five.
Originally released in March, ARIRANG returned to the Top 10 of Billboard Top 200 album charts this week — rising from No. 26 to No. 9 — following the release of a new vinyl picture disc variant of the album with two bonus tracks. BTS also co-headlined the FIFA World Cup final halftime show on July 19, performing their 2020 No. 1 Hot 100 hit “Dynamite,” and they are currently promoting a new single “Normal.”
Revenue from segments artists aren’t directly involved with — including official merchandise, intellectual property licensing, content and fan club memberships — totaled 410 billion won ($279 million), marking a 59% increase from the year-ago quarter.
Operating expenses for the quarter hit nearly 1.3 trillion won ($871 million), a 100% increase from a year ago, while operating profit of 171 billion won ($116 million) was up nearly 160% from the year-ago quarter.
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