BTS and Justin Bieber Bump HYBE Revenue to $226 Million in Q1 2022
Thania Garcia South Korean entertainment giant HYBE has reported a generated revenue of approximately $226 million — an increase of 59.8% — for the first quarter of the year.In 2021, the music company announced a billion-dollar annual revenue for the first time, thanks largely in part to Scooter Braun‘s megamerger agreement (between Ithaca Holdings and HYBE). Since then, the return of live music and large-scale events has unequivocally propelled revenue.Two of the top contributors were HYBE America artist Justin Bieber, whose “Justice” world tour launched in February, and of course BTS, whose “BTS Permission to Dance on Stage: Seoul” screening made it big at the global box office; the limited release raked in $32.6 million from 3,711 cinemas in 75 worldwide theatrical markets.