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Games & Commerce

Hybe Q1 revenue 6,983 billion won, up 40 percent year on year

Hybe said on Tuesday its first-quarter consolidated revenue rose 40 percent from a year earlier to 698.3 billion won. Direct participation revenue increased 25 percent to 403.7 billion won, led by album and music sales that nearly doubled. Indirect participation revenue climbed 66 percent to 294.7 billion won, with merchandise, licensing and fan club sales rising. Adjusted operating profit was 58.5 billion won, while operating profit on an unadjusted basis posted a loss.

Industry

hy combines equity, production and IP into one in new overseas business model

hy, formerly Korea Yakult, is expanding globally through a joint business model that combines equity investment, production and intellectual property. Through its U.S. joint venture HYH America with HYBE and Paldo, it has launched a new food and beverage brand, ARIH, developed from the planning stage with BTS. The brand begins sales at Walmart in the United States from April 24, with a South Korea launch planned for late next month.

Games & Commerce

Baemin \'BTS limited-edition drink\' boosts delivery and pickup orders at small cafes

Woowa Brothers, operator of food delivery app Baedal Minjok (Baemin), said average daily pickup orders for a limited-edition drink sold at small cafes rose about 11-fold through a tie-up with \'BTS The City Arirang Seoul\'. For 100 small cafes in Seoul’s Jongno and Jung districts, pickup orders jumped about 1,000 percent and pickup sales rose 430 percent. Baemin also provided ingredients, recipes and marketing support.