HYBE Grew 42% in 2022, Eyes New Markets Through SM Entertainment

Source: billboard.com billboard.com

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Korean music company HYBE is more than getting by with its primary artist, BTS, on hiatus and its members pursuing solo projects and preparing for military duty. In 2022, HYBE’s revenue grew 41.6% to 1.78 trillion won ($1.41 billion at the Dec. 31, 2022 exchange rate), the company announced Tuesday (Feb. 21). Adjusted earnings before interest, taxes, depreciation and amortization rose 23.9% to 328.8 billion won ($260.5 million). Margins were thinner that in previous years, however. Last year’s operating margin (as a percent of revenue) fell to 13.4% from 15.1% in 2021 and 18.3% in 2020. Adjusted EBITDA margin dropped...