HYBE’s Third-Quarter Earnings Call Brings Internal Issues to Light

On November 5, 2024, during HYBE’s third-quarter earnings conference call, HYBE CEO Lee Jae Sang addressed recent internal conflicts within the company and emphasized the success of their popular group, NewJeans. According to Lee, HYBE has been grappling with challenges since April 2024, but the company remains focused on its goals and has continued to deliver strong results. Lee acknowledged the dedication of HYBE’s artists and employees, noting their ability to overcome obstacles through hard work.

In his statement, Lee expressed gratitude to shareholders, saying,

“We are focused on our core values and will continue our business with unwavering commitment. I also want to express my gratitude to our shareholders for their support.”

NewJeans Achieves Milestones in Japan and Maintains Popularity

Discussing NewJeans’ recent achievements, Lee highlighted several key moments that contributed to the group’s record-breaking year. In June 2024, NewJeans held their “Bunnies Camp 2024” concert at Tokyo Dome, marking a historic milestone as they became the fastest non-Japanese artist to perform at the iconic venue. Additionally, NewJeans achieved tremendous success with their Japanese debut album “Supernatural”, released in June, which became their fifth consecutive million-selling album.

Lee further noted the group’s popularity outside of new releases and live performances, stating:

“Even without new album releases or concerts, NewJeans maintained consistent popularity on music charts and in advertisements throughout the third quarter. HYBE remains committed to supporting NewJeans’ ongoing growth.”

NewJeans also topped charts with their latest single, “How Sweet”, which has been well-received in both South Korea and Japan, further solidifying their reputation as a leading K-pop act. This consistent chart performance and their wide appeal in advertisements showcase the group’s rising influence.

HYBE’s Focus on Stability Amid Challenges

In addition to the updates on NewJeans, CEO Lee Jae Sang reaffirmed HYBE’s commitment to maintaining stability and growth, despite the internal difficulties facing the company. His message conveyed a dedication to strengthening HYBE’s foundational values and supporting its artists, even amid complex challenges.

For more updates on NewJeans and HYBE’s ongoing developments, tune in to Vviptimes.