K-pop giant HYBE has reported impressive Q2 2025 revenue growth, with concerts, merch and Weverse results leading the way.
Overall:
Q2 total revenue was $509.4 million/₩705.7 billion, up 10.2% YOY.
Operating profit was $47.7 million/₩65.9 billion, up 29% YoY.
The company attributed the gains to “a robust portfolio of artists and successful global activities.”
Artist-direct operations:
Accounted for $323.3 million/₩447.9 billion, a 5.7% YoY improvement.
Live revenue spiked 31% YoY to $136.2 million/₩188.7 billion, thanks to its artists performing 140 concerts and fan meetings during H1 2025.
Recorded music revenue dipped 8.4% YoY to $165 million/₩228.6 billion.
Ads and appearances revenue was largely flat at $22.1 million/₩30.6 billion.
Artist-indirect operations:
Accounted for $186.1 million/₩257.8 billion, a 19% bump YoY.
The category includes official merchandise, intellectual property licensing, content, and fan club memberships.
$110.4 million/₩152.9 billion was derived from merch and licensing, up 40.2% YoY.
Fan club revenue jumped 46.2% YoY to $25 million/₩34.6 billion.
The Weverse
The average MAUs for the superfan platform were 10.9 million during Q2.
It saw a 41% QoQ increase in total revenue.
