BTS Tour Powers Hybe to Record $1.13 Billion Quarter

Hybe posted the highest quarterly revenue and operating profit in its history in the third quarter of 2026, driven by BTS' world tour. Revenue reached KRW1.5257 trillion ($1.13 billion) and operating profit KRW188.5 billion ($140.2 million), beating the records the company set only one quarter earlier. 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 the nine months was $310.8 million, a figure that excludes a one-off charge booked in the first quarter.

Where the money came from

Income tied directly to artists — recorded music, concerts, ads and appearances — made up 70% of the total at $799.6 million. 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. Hybe credited products adapted for local markets, a diversified production setup, and Weverse Pickup, a service that lets fans buy online and collect orders at the venue. The company said it intends to apply the same local approach to tours by acts across its other labels.

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.

What does the 'multi-home, multi-genre' strategy prove?

Hybe singled out Katseye and Japanese boy group &Team as evidence that its "multi-home, multi-genre" strategy is working. The numbers back the claim, at least for now.

Katseye's third EP "Wild" also went to No. 1 on the Billboard 200, selling 150,000 U.S. copies in its opening week — roughly 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 heads 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 has sold a million copies. The group played its first solo dome show at Belluna Dome, and its second Korean mini album "Mark on Me" 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.

Expansion: India next, platform steady

In October, Hybe set up Hybe Global Label Services to strengthen marketing and promotion across its worldwide operations. India is next: in March 2027, New Delhi will stage the first edition of Weverse Con Festival outside Korea, and Hybe is moving forward with a localized artist project for the Indian market.

Weverse, the company's fan platform, logged 14.2 million monthly active users, close to the record set the previous quarter, with Cortis fans among the newcomers. The platform also tested Fan Lounge, a real-time chat feature that works across languages.

What does this change for Hybe? The record rests heavily on one band's stadium run — BTS' tour continues into the first half of 2027, and the group is also busy with music and other projects — but the quarter's supporting evidence, from Katseye's sellouts to &Team's million-sellers, suggests the company's bet on localized acts is starting to pay its own way.