In 2022, HYBE’s revenue grew 41.6% to 1.78 trillion won ($1.41 billion at the Dec. 31, 2022 exchange rate).
was the No. 15 artist with 1.29 million units. As a point of comparison, the top album in the U.S. last year, Taylor Swift’sArtist indirect involvement revenue grew only 9.7% in the calendar year. Merchandising and licensing improved 24.8% to 395.6 billion won and fan club revenue grew 47.1% to 67.1 billion won .
In the fourth quarter, HYBE’s revenue grew 16.9% to 535.3 billion won in the fourth quarter of 2022. Recorded music revenue jumped 76.4% to 149.1 billion won and was the largest single source of revenue. BTS’s global success has allowed HYBE to diversify itself and rely less on the K-pop super group. In 2017, Korea accounted for 72% of HYBE’s revenues compared to 14% for Japan and 9% for North America. In 2022, HYBE had grown 19-fold from 2017 and had almost evenly balanced business between its three main markets: Korea , North America and Japan . The rest of the world contributed just 7% of HYBE’s 2022 revenue — but that could change if the company’s newest investment works as expected.
HYBE’s recent acquisition of a leading stake in competing K-pop company SM Entertainment is an opportunity to develop in markets where it currently has little presence. CEO Park Jiwon explained during Tuesday’s earnings call that HYBE artists can benefit from SM Entertainment’s strong network and infrastructure in China and Southeast Asia. Likewise, HYBE believes it can help SM Entertainment in the North American market.
HYBE latest acquisition didn’t impact 2022 results but will help expand its presence outside of Korea in 2023. On Feb. 8, HYBE
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