Hybe said on April 29 it posted first-quarter consolidated revenue of 698.3 billion won. That was up 40 percent from a year earlier.

Direct participation revenue rose 25 percent to 403.7 billion won. Of that, revenue from album and music sales was 271.5 billion won, up 99 percent from a year earlier. Hybe said sales were boosted by BTS' fifth full-length album 'Arirang (ARIRANG)', which sold 3.98 million copies on its release day, ENHYPEN achieving its fourth double million-seller, and rising cumulative sales by rookie artists including KATSEYE and Cortis.

Indirect participation revenue was tallied at 294.7 billion won, up 66 percent from a year earlier. Revenue from merchandise (MD) and licensing, and the fan club segment rose 29 percent and 69 percent, respectively, from a year earlier. Weverse, a global fan community platform, posted average monthly active users of 13.37 million in the first quarter, up 20 percent from the previous quarter.

Adjusted operating profit, reflecting underlying business performance in the first quarter, was 58.5 billion won, and the adjusted operating margin was 8.4 percent. Operating profit before adjustment posted a loss after 255.0 billion won that the largest shareholder contributed from personal funds for employee performance bonuses was recognized as an expense in accounting terms. Hybe said the expense was a one-off cost with no outflow of the company's net assets.

Hybe forecast further growth in revenue and profit from the second quarter as it reflects album releases by its artists including Tomorrow X Together, Le Sserafim, TWS, ILLIT and Cortis, as well as BTS world tour results.