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HYBE Revenue Falls Sharply, Gets Strong Debuts by TWS and ILLIT
HYBE's Q1 2024 total revenue was its lowest in two years as its recorded music segment sank to its lowest level in seven quarters.
The stock is down 13.7% year to date, however, and fell 12.6% last week following news that HYBE will report the CEO of its ADOR imprint, Min Hee-jin, to the police for “breach of trust and other related allegations.” Weverse, HYBE’s social media platform, saw its monthly active users (MAUs) decline for the second quarter. Both average revenue per paying user and payment amount fell below levels reached in 2022 and 2023; HYBE does not provide specific numbers for either metric.
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