HYBE’s results pale in comparison…
Koreaboo
The financial results for the third quarter of 2024 of major Korean entertainment companies, MOVES, SM Fun, JYP entertainment, AND YG Funhave attracted considerable attention and sparked extensive discussion online.
Netizens have shown particular interest in HYBE’s net profit, which pales in comparison to that of its rivals SM and JYP.
The reported data reveals that HYBE recorded revenues of ₩528 billion KRW (approximately $375 million USD), which dwarfed those of SM (₩242 billion KRW (approximately $172 million USD)), JYP (₩ 171 billion KRW (approximately $121 million USD)) and YG (₩83.5 billion KRW (approximately $59.3 million dollars)).
However, when it came to net profit, the difference was notable. HYBE recorded only ₩1.40 billion KRW (approximately $994,000 USD) in net profit, while SM recorded ₩16.0 billion KRW (approximately $11.4 million USD) and JYP topped them all with a net profit of ₩38.8 billion KRW (approximately $27.6 million USD).
These surprising findings triggered a wave of reactions on popular Korean online forums, including TheQoo, where threads on this topic gained tens of thousands of views and numerous comments in a short period. Many netizens poke fun at HYBE’s unexpectedly low profit margin, questioning the company’s financial management despite its large-scale revenue.
- “Wow, where does all the HYBE money go?”
- “JYP is crazy.”
- “HYBE is so much fun.”
- “Money keeps leaking out and leaking.”
- “What’s up with HYBE? LOL, YouTubers probably earn more.”
- “HYBE makes less than YouTubers, LOL.”
- “Where does HYBE spend all its money?”
- “Looking at things like this, JYP always seems like the real deal.”
- “I get it YG, but what’s up with HYBE?”
- “HYBE is truly amazing.”
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