HYBE’s Record-Breaking Quarter and BTS’s 2026 Comeback
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HYBE Sets Record High Revenue in 2025 Q3 as BTS Comeback Looms
According to HYBE’s official report released on November 10, the entertainment giant posted 727.2 billion KRW in consolidated revenue for the third quarter of 2025 — a 37.8% year-on-year increase and the highest in company history. This result surpassed its previous record from Q4 2024, showcasing HYBE’s continued global dominance in the K-pop industry.
HYBE’s cumulative sales up to Q3 reached approximately 1.93 trillion KRW, supported by massive world tours from BTS’s Jin, TOMORROW X TOGETHER, and ENHYPEN. Performance-related revenue tripled compared to last year, while merchandise and licensing income surged thanks to strong tour MD and fan product sales.
Meanwhile, the company’s global expansion strategy through its “multi-home, multi-genre” model is yielding tangible results. Girl group CatsEye reached No. 37 on the Billboard Hot 100 with “Gabriela,” earned two Grammy nominations, and will soon launch their sold-out North American tour. Their label is also preparing a new four-member sister group, with the lineup to be revealed through a Japanese OTT series next spring.
HYBE’s fan platform Weverse also achieved profitability for the first time this year, driven by new digital membership and ad models. Weverse will soon expand its presence in China by launching its “DM” chat service on QQ Music. Analysts expect even stronger growth in 2026, backed by BTS’s return, continued artist expansion, and rising digital commerce revenue.
Despite a 5.8% operating loss this quarter due to heavy investment in new global IP and restructuring in North America, HYBE executives emphasized that these are strategic, short-term costs. The company debuted new boy groups such as CORTIS in Korea and SANTOS BRAVOS in Latin America, signaling its ambition to build the next generation of international stars.
HYBE CFO Lee Kyung-jun stated that while short-term profitability declined, these investments will solidify HYBE’s long-term growth and fandom base. CEO Lee Jae-sang added that with BTS’s comeback and Weverse’s stable profit model, HYBE will enter a full-scale recovery phase next year, reinforcing its position as the world’s leading K-pop powerhouse.
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