Seoul: Hybe, the renowned K-pop powerhouse behind global sensation BTS, reported an impressive 50 percent year-on-year increase in operating profit for the January-March period. This significant growth was largely driven by the company's artists' extensive global tour activities, as announced by the company on Tuesday.

According to Yonhap News Agency, Hybe's sales soared by 38.7 percent, reaching a record-breaking 500.6 billion won (approximately US$348 million) for the quarter. This marks the company's highest first-quarter performance to date. Net profit witnessed a remarkable surge, climbing nearly 400 percent to 55.3 billion won.

The company attributed its robust sales growth to active world tours and solo concerts by its roster of artists, including BTS' J-Hope, Seventeen, TXT, Enhypen, and Boynextdoor. Hybe highlighted the significance of this achievement, noting that the first quarter is traditionally a quieter period in the industry when artists typically recharge and prepare for new releases.

Hybe also emphasized that a growing number of its groups have reached the maturity and scale necessary to conduct successful world tours. During the first quarter, sales directly involving artists amounted to 322.5 billion won, accounting for 64 percent of total sales. Although album and streaming sales experienced a slight year-on-year decline, concert revenue more than tripled, reaching 155.2 billion won.

Additionally, sales from merchandising, licensing, and fan clubs totaled 178.1 billion won, constituting the remaining 36 percent of the company's revenue. As part of its future plans, Seventeen is set to release its fifth studio album, "Happy Burstday," next month to commemorate the 10th anniversary of its debut. Moreover, Hybe is preparing to debut its new Japanese group, aoen, on June 11, followed by a new boy group under its BigHit Music label in the third quarter.