HYBE Official X / SMTOWN Official X
SM Entertainment and HYBE have released their 2024 financial report, revealing surprising numbers of their profit and revenue. The data show a big difference between these two leading K-Pop agencies.
Despite achieving record-high revenues last year, HYBE reported an unexpected net loss. In contrast, SM Entertainment not only increased its revenue but also remained profitable.
This unexpected financial split between the two industry giants raises intriguing questions about the underlying factors contributing to their differing fiscal outcomes. In this article, we'll explore the factors behind HYBE's financial losses and SM Entertainment's profitability in 2024.
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HYBE and SM Entertainment 2024 Financial Report: How Much Revenue and Profits Did the Companies Generate?
HYBE and SM Entertainment's financial results are out, and they reveal striking differences in the agencies' earnings. While both companies saw significant revenue, their final profit numbers tell a very different story. Below is a closer look at each one's report:
HYBE 2024 Revenue and Profit
According to HYBE’s 2024 financial report released on Feb. 25, the K-Pop giant achieved a record-high revenue of over 2 trillion KRW for 2024. To be specific, the company gained 2.2545 trillion KRW, or USD 1.573 billion at the current exchange rate. The figure shows a 3.5% increase year on year.
Kpopmap
This marks the third consecutive year that HYBE's revenues surpassed USD 1 billion and the second consecutive year exceeding 2 trillion KRW.
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