, booked a 21% increase in net profits in the three months to June 2021 and said that its artists had returned to “full-fledged” activities following the coronavirus hiatus.
Album sales rose by 96% to KRW107 billion due to new releases from BTS, Tomorrow X Together and Seventeen. Content sales surged by 146% to KRW 91.3 billion due to the success of BTS’ online fan meeting in June, HYBE reported. Revenue earned from advertisements, artist appearance fees, and management increased by 77% quarter-on-quarter to KRW 21.6 billion .
At a conference call held after the results announcement, management returned to the theme of international expansion, saying that it will boost staff at its major hubs in Korea, the U.S., and Japan.
THE MUSIC INDUSTRY
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