HYBE just closed a strong first quarter. 

The Korean entertainment powerhouse just recorded a revenue of KRW 410.6 billion for the first quarter of 2023, which comes as a 44.1% increase compared to last year's Q1. The increase has been attributed to the various activities of HYBE's artists across the year so far, from album sales to concert tours. 

HYBE reportedly sold a total of 9.11 million albums in Q1 2023, with BTS' Jimin selling over 1.45 million copies of his first solo album, FACE and TXT selling over 3.14 million copies of their Billboard-charting album The Name Chapter: Temptation. TXT also kicked off their second world tour in March, selling out most of their stadium shows which were double the size of their last tour.

NewJeans' single album, OMG also sold more than 1.3 million copies while SEVENTEEN sold 1.27 million copies of their back catalogue, alluding to both the group's growing success in the global market. 

Direct artist promotions account for KRW 234.5 billion in revenue, an up 53.9% from the same period last year. While indirect artist promotions, which include HYBE's original IP BTS Island: IN THE SEOM, generating KRW 176.1 billion in revenue. 

"HYBE will actively support artists and music IPs to continue to grow. We are putting our utmost to deliver a variety of artist performances and content to fans based on our IPs," said HYBE CEO Jiwon Park.

For Q2, HYBE already has a series of activities lined up including SUGA's D-DAY world tour, SEVENTEEN's latest mini-album FML, LE SSERAFIM's first studio album UNFORGIVEN, and ENHYPEN's upcoming comeback, as well as a new boy group, BOYNEXTDOOR under KOZ Entertainment.