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Media & Entertainment

BTS agency Hybe beats concert slump with 30% profit gain

Boy band cashes in on ads and online content, but looming military service clouds outlook

Artist of the year was among three prizes BTS took home at the American Music Awards in November. (Photo courtesy of Hybe)

SEOUL -- The South Korean entertainment company behind the K-pop sensation BTS grew its group operating profit 31% to 190 billion won ($159 million) last year as music and merchandise sales offset slow concert revenue.

Group sales for Seoul-based Hybe soared 58% to 1.25 trillion won. Music sales climbed 18% while revenue from endorsements expanded 120%. Revenue from the content business, which includes games and webtoons featuring BTS, ballooned 180%.

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