Hybe continues to rely heavily on BTS for profit despite diversification push

Despite Hybe’s ongoing efforts to diversify its business and reduce dependence on BTS, new data shows the K-pop powerhouse still relies heavily on its flagship group for generating profit. Earlier in August, the company announced a record quarterly revenue of 705.6 billion won ($504.4 million) with 63 percent coming directly from artist-driven activities such as concerts and albums. While overall album sales fell 8.4 percent year-on-year, concert revenue offset the decline. Concerts alone accoun