On October 4, Hyundai Motor Securities published its projected sales and profits for HYBE Labels in the third quarter of 2022.
According to the financial analyst, HYBE Labels is projected to report sales of 412.3 billion KRW (~ $288 million USD), as well as a profit of 60.7 billion KRW (~ $42.3 million USD) in the third quarter of 2022. The company’s share price is projected to decrease from 250,000 KRW to 210,000 KRW, but investors are still advised to “buy” HYBE Labels shares based on the company’s projected activities in the fourth quarter of 2022.
In Q4, three HYBE Labels boy groups including Seventeen, TOMORROW x TOGETHER, and ENHYPEN will launch overseas tours. Additionally, two BTS members will release solo albums, with BTS also scheduled to hold their Busan concert in October. Both HYBE Labels girl groups LE SSERAFIM and NewJeans will make comebacks in Q4. Finally, the company’s first Japanese boy group &TEAM is set to debut.
In 2023, HYBE Labels plans on debuting 3~4 new teams, with aims to reduce reliance on BTS for sales and profit to 35~40% by 2024.
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