BTS’ world tour sent K-pop powerhouse Hybe to the highest quarterly revenue and operating profit in its history in the third quarter of 2026.
Revenue for the quarter reached KRW1.5257 trillion ($1.13 billion) and operating profit came in at KRW188.5 billion ($140.2 million). Both numbers beat the records the company set in the second quarter. Operating margin stood at 12.4%.
Over the first nine months of the year, Hybe has taken in $2.73 billion, more than it has ever earned in a full year. Adjusted operating profit for those nine months was $310.8 million, a figure that leaves out a one-off charge booked in the first quarter.
Income tied directly to artists made up 70%
Income tied directly to artists made up 70% of the total at $799.6 million. That covers recorded music, concerts, ads and appearances. Indirect streams such as fan club memberships, merchandise, licensing and content brought in $334.9 million.
Live shows did the heavy lifting. Concert revenue hit a quarterly high of $540.5 million, as BTS played to some 70,000 fans per show in Europe and the U.S. Enhypen, Le Sserafim, &Team, Katseye and Cortis were among the other Hybe acts on the road.
Merchandise and licensing also set a quarterly record at $248.8 million. BTS’ North American tour merch alone accounted for $79.6 million of that. Hybe pointed to products adapted for local markets and a diversified production setup. It also cited Weverse Pickup, a service that lets fans buy online and collect their orders at the venue. The company intends to bring the same local approach to tours by acts across its other labels.
Recorded music revenue was $210.3 million, with streaming
Recorded music revenue was $210.3 million, with streaming responsible for about 30%. Enhypen’s eighth mini album “The Sin: Bliss” hit No. 1 on the Billboard 200, and Cortis’ second EP “Greengreen” passed 4 million in cumulative sales in September.
Hybe singled out Katseye and Japanese boy group &Team as proof that what it calls its “multi-home, multi-genre” strategy is working. Katseye’s third EP “Wild” also went to No. 1 on the Billboard 200. It sold 150,000 copies in the U.S. in its opening week, around five times the first-week tally of the group’s previous release. Its single “Animal” has spent 12 straight weeks on the Billboard Hot 100. The group’s U.S. profile also grew through festival slots, brand deals and wider album and merch distribution at retailers such as Target.
Katseye sold out every one of its 31 shows in 27 cities across Europe and North America. It will head to Asia and Oceania for an 11-city arena tour starting in January 2027, and is set to headline Lollapalooza India.
In Japan, each of &Team’s last four releases
In Japan, each of &Team’s last four releases has sold a million copies, and the group played its first solo dome show, at Belluna Dome. “Mark on Me,” the group’s second Korean mini album, debuted at No. 20 on the Billboard 200, the best placing yet for a Japanese boy group. &Team members also appeared on a remix of “Kawasaki” by Santos Bravos, Hybe’s Latin American group.
In October, the company set up Hybe Global Label Services to strengthen marketing and promotion across its worldwide operations. India is next on the map. In March 2027, New Delhi will stage the first edition of Weverse Con Festival to take place outside Korea, and Hybe is also moving forward with a localized artist project for the Indian market.
Weverse, Hybe’s fan platform, logged 14.2 million monthly active users, close to the record it hit the previous quarter. Cortis fans were among the newcomers. The platform also tested Fan Lounge, a real-time chat feature that works across languages.
BTS’ tour runs into the first half of 2027, and the group is also busy with music and other projects.
