HYBE's revenue grew 17.5% as profitability cratered

Revenue shot up while profits fell off a cliff at HYBE, even as concerts almost caught up with recorded music for the first time.

Revenue up, margins crushed

• HYBE posted 2.65 trillion KRW in FY 2025 revenue.
• That equals about 1.86 billion dollars.
• Operating profit slid 72.9% to 49.9 billion KRW.
• Operating margin shrank from 8.2% to 1.9%.

EBITDA takes a hit

• EBITDA landed at 154 billion KRW.
• That figure dropped 47% year over year.
• Profitability weakened despite strong topline growth.
• Filing covered both Q4 and full-year 2025.

Concerts nearly match recorded music

• Concerts generated 763.9 billion KRW in 2025.
• Recorded music brought in 773.0 billion KRW.
• The gap between the two lines was just 9 billion KRW.
• In 2023, recorded music far outpaced concerts.

Touring scale ramps up

• HYBE staged 279 concerts across 53 cities.
• Twelve artists toured during 2025.
• The prior year featured 172 concerts and 10 artists.
• BTS World Tour ARIRANG launches in April 2026.