HYBE Gets Mocked For Shocking 3rd Quarter Net Profit Compared To The “Big 3”
The financial results for the third quarter of 2024 from Korea’s major entertainment companies, HYBE, SM Entertainment, JYP Entertainment, and YG Entertainment, have drawn significant attention and sparked widespread online discussions.
Netizens have taken particular interest in HYBE’s net profit, which pales in comparison to its rivals SM and JYP.
The reported figures reveal that HYBE posted revenues of ₩528 billion KRW (about $375 million USD), which dwarfed those of SM (₩242 billion KRW (about $172 million USD)), JYP (₩171 billion KRW (about $121 million USD)), and YG (₩83.5 billion KRW (about $59.3 million USD)).
However, when it came to net profit, the difference was stark. HYBE recorded only ₩1.40 billion KRW (about $994,000 USD) in net profit, whereas SM reported ₩16.0 billion KRW (about $11.4 million USD), and JYP outshined them all with a net profit of ₩38.8 billion KRW (about $27.6 million USD).
These surprising results have triggered a wave of reactions on popular Korean online forums, including TheQoo, where threads on this topic have gained tens of thousands of views and numerous comments in a short period. Many netizens are poking fun at HYBE’s unexpectedly low-profit margin, questioning the company’s financial management despite its large-scale revenue.
- “Wow, where does all of HYBE’s money go?”
- “JYPE is crazy.”
- “HYBE is so funny.”
- “The money just keeps leaking and leaking.”
- “What’s up with HYBE? LOL, YouTubers probably make more money.”
- “HYBE makes less money than YouTubers, LOL.”
- “Where does HYBE spend all their money?”
- “Looking at things like this, JYPE always seems like the real deal.”
- “I get YG, but what’s up with HYBE?”
- “HYBE fascinates me.”
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