Matthew Maysonet’s Post

New Post: HYBE Set Quarterly Revenue Record, Net Income Dropped Sharply in Q2 - https://lnkd.in/gwj5W9zp - HYBE’s net income dropped 86% in the second quarter of 2024 as total revenue improved 3.1% to a quarterly record of 640 billion won ($482 million), the company announced Tuesday (Aug. 6).  The South Korean K-pop giant breaks its financial results into two main categories: segments with direct artist involvement such as recorded music and concerts, and those with indirect-artist involvement such as fan clubs, licensing and merchandise. In the second quarter, indirect revenue streams grew 17.4% to 217 billion won ($163 million). Direct revenue fell 2.9% to 424 billion won ($319 million) as concerts dropped 8.6% to 144 billion won ($108 million) while recorded music improved 1.5% to 250 billion won ($188 million).  Operating profit—total revenue less cost of sales and operating expenses—dropped 37.4% to 51 billion won ($38 million), a smaller decline than experienced by net income because of a sharp drop in non-operating income. Earnings before interest, taxes, depreciation and amortization (EBITDA), a measure of the company’s cash profit from operations, fell 24.6% to 79 billion won ($59 million).  Results for the first six months of the year were, across the board, a bit worse than a year earlier. Although total revenue topped 1 trillion won ($741 million) for the second consecutive year, that amount was 2.9% lower than a year earlier. First-half operating profit, net income and EBITDA were also lower than the first half of 2023.  HYBE sold fewer albums in the first half of the year but dominated sales charts in South Korea and Japan. Led by Seventeen’s 4.4 million albums sold in the first half of the year, HYBE had 9 of the top 20 artists ranked by album sales in South Korea. Seventeen’s Best Album ’17 is Right Here’ ranked second in Japanese album sales with 423,000 units while its SEVENTEENTH Heaven: 11th Mini Album ranked No. 6 with 242,000 units. In the U.S., Tomorrow X Together’s Minisode 3: TOMORROW ranked No. 2 in CD sales behind Taylor Swift’s The Tortured Poets Department.  Streaming accounted for 35% of recorded music revenue, up from the first half of 2023. In a first-of-its-kind breakdown of the company’s streaming revenue, HYBE revealed that domestic streaming revenue for HYBE’s labels South Korea was 18 billion won ($18 million), less than half the amount from full-year 2023. (It did not provide first-half streaming revenue figures for those labels’ streaming revenue outside of South Korea). HYBE’s U.S. labels—Big Machine Label Group and Quality Control—also had streaming revenue of 61 billion won in the first half.  Weverse, HYBE’s social media platform, had 9.6 million monthly active users, up from 9.2 million in the first quarter and even with the 9.6

Follow this post as an outline for success: inspiration, determination, education, perspiration, and now to a shift in rhyme, understanding, delivering, and learning.

🎸 From Garage Band to Rock Royalty: The Rise of The Messengers! 🚀🎶 At 16, I had a vision: to create a band that delivered music straight to the soul. Thus, The Messengers were born. With my best friend Gary by my side, along with the musical prodigy Killer and top-tier vocalist, we set out to revolutionize the music scene. 💰 Armed with determination and a bank account from my early ventures in sales, we invested in top-notch equipment. But breaking into the music union wasn't easy. They saw us as competition, but I knew better. We were tapping into a new phenomenon, playing the hits the kids craved. 📝 Like a sponge, I soaked up knowledge from other bands, learning what songs resonated and how to give the crowd what they wanted. It wasn't just about the music; it was about understanding the market and delivering an unforgettable experience. 🚀 Fast forward to packed venues and sold-out shows. We were living the dream, driving from Waukegan to Chicago to watch our idols, soaking in every note and riff. And as we climbed the ranks, I learned a valuable lesson: success isn't just about talent; it's about strategy and seizing every opportunity. 💡 So here's to The Messengers, a testament to the power of passion, persistence, and a little bit of rock 'n' roll magic. Keep chasing your dreams, because you never know where they might take you! 🌟🎸 #RockStarDreams #MusicRevolution #EntrepreneurialSpirit

Check out the story below and get inspired to chase your own!

Our Bruce Wawrzyniak was in Nashville last week. That followed his having been in Alabama a few weeks earlier. And that was right after he'd just spent time in New York City. Today we posted our blog for this week, encouraging you to go find opportunities that might be out there for you, which you likely won't get if you shut it down and just stay home. Use the link below to read the full post and get actual examples of where maybe you should get yourself to -- even if locally. #musicbiz #connections #opportunities

In my journey through music ecosystem studies across various cities, I've discovered a simple yet profound truth: "If we can really understand the problem, the answer will come out of it, because the answer is not separate from the problem." This is in line with the challenges and opportunities we encounter in the music industry. Whether it's supporting local artists in Anchorage, Austin, Baltimore, Charlotte, Chattanooga, Cleveland, Columbus, DC, Greensboro, Lawrence KS, Minneapolis, Nashville, New Orleans, NW Arkansas, Sacramento and Tulsa or exploring new market dynamics, the key lies in our understanding of the underlying issues. Let's dive deeper into our problems, not to dwell on them, but to find the innovative solutions that are already there, waiting to be uncovered. #MusicIndustry #ProblemSolving #Innovation

👋 Meet one of the newer additions to our awesome team! Say hello to John. John covers Eastern Washington, Tri-Cities, and Northern Idaho. Did you know that John believes, “Cold left-overs are better, no debate” and that one of his favorite musicians is Zach Bryan? What's one thing you'd like to know about John? Ask in the comments below. #SynergyTeamSpotlight #meettheteam #meetsynergy #TeamSynergy

Transactions versus Experiences: "In the past few months, I’ve been to several concerts. I’d say the entertainers were legends in the industry. Two of them were Bob Dylan and Ringo Starr (of the Beatles). Both are talented beyond words. They both have successful careers. They have both been inducted into the Rock and Roll Hall of Fame. It’s important for you to know this, just in case you don’t know who they are. It’s a generational thing. If you were born in this century, you probably don’t know either of them, but trust me, they are rock stars and legends! There was a difference in their shows. Bob Dylan came out and played. He barely spoke a word to the audience. His music was enough for his true fans. But for some of us who saw the legend for the first time, we might have expected more than just songs. If all we wanted was the music, we could have listened to his albums on iTunes or Spotify. Ringo Starr, on the other hand, did more than just play songs. He brought energy and enthusiasm to the stage. While he and his all-star band played their most popular songs, there was more to the show. He shared commentary and stories, so the audience felt they had a glimpse into the personality of one of the most famous and iconic musicians on the planet. This is the lead-in to today’s lesson, which is to understand the difference between experiencing a company or brand, and simply doing business with it." Continue reading • Shep Hyken's latest guest post for Human-Centered Change & Innovation here: https://lnkd.in/gTMEsR6q #customerexperience #marketing #sales #leadership

• Shep Hyken's latest article explores what the difference between a transaction and an experience really is and why you should care. #marketing #sales #customerexperience #strategy

“You are different, special, and unique.” What if every kid grew up believing they could be whatever they wanted to be? How would that change the course of their lives? Taylor Swift made history at the Grammys by being the first artist to win Album of the Year four times, surpassing Frank Sinatra, Paul Simon and Stevie Wonder. It’s an amazing achievement that makes you think of the journey behind the awards. Taylor grew up with supportive parents who would always tell her that she was unique and special and that she could do whatever she wanted with her life. When she was just starting out, they drove her around and helped her hand out music demos. They even moved to another state to support her budding career — but never explicitly said so to avoid putting pressure on her. There are many, many steps that led to Taylor’s global superstardom, but I believe this strong foundation at home was crucial in her fearless journey. To be completely honest, I envy her upbringing. I grew up being told that I was NOT special and that I should stay in my lane. I knew all too well the struggle to be my authentic self. I wonder how things would’ve been different if I was encouraged to embrace my uniqueness from the very beginning. It’s not the fault of anyone in particular — it’s in our culture to conform and follow the rules without question. This is how previous generations grew up and found “success” so they pass it down to give their children the best lives possible. But living your best life looks different for each person. To me, it means being confident yet humble about what makes you unique. It means nurturing young people’s infinite potential. It means raising the next generation with hope — not fear. Every parent’s capacity and circumstance is different, but imagine if more parents simply told their kids that they are special and they can dream as big as they want. It would build their confidence and set them up for success on their own terms — whether that’s breaking records at the Grammys or whatever their wildest dream may be. #ownacademy #taylorswift #parents #career #success