BTS agency Hybe made history with its record-breaking 2021 earnings

BTS is being managed by Hybe that has made history in the Kpop industry by surpassing the ₩1 trillion mark in annual sales for the year 2021. The company has become the first management agency in South Korea to attain this huge achievement despite being new compared to the others.

Apparently, the massive global success of the BTS boy group that consists of RM, Jungkook, V, Jimin, Suga, J-Hope, and Jin, was the main reason for Hybe's $838 million annual sales results last year. The company has other artists under its wing, and while they have also contributed, BTS played the biggest role.

According to Yonhap News Agency, the management firm stated in a regulatory filing that was filed on Tuesday, Feb. 22, that its annual sales for 2021 were provisionally computed at ₩1.25 trillion, an amount that showed an increase of 58% compared to 2020.

Along with the boosted sales figure, Hybe also indicated that its operating profit climbed 30.8% on-year to ₩190.3 billion. The projected net profit was at ₩141 billion, which is a 62% gain. It was noted that the agency's album sales surged by 18% from the previous year to ₩378.5 billion.

The numbers make sense because BTS's "Butter" album was a megahit around the world and it sold 7.4 million copies. The track has been no. 1 on Billboard's Hot 100 singles chart for weeks and topped various music charts as well.

What's more, BTS' offline concerts have reportedly generated a total of ₩40 billion in sales, and if the group's online streamings and activities are included, the numbers will tremendously go up and could be the biggest-ever recorded sales at Hybe.

In any case, other albums that raked in profits to up Hybe's sales include records of boy groups - Enhypen, Tomorrow X Together (TXT), and Seventeen. Artists of Ithaca Holdings that were acquired by the company last year, such as Ariana Grande and Justin Bieber, also sold over two million copies of their respective albums.

"Hybe's artists set many records to be kept in history at home and abroad last year," Aju Daily Business quoted the firm's chief executive officer, Park Ji Won, as saying with regards to the company's sales milestone.