dissemination of goods and other kinds of content.
For the third quarter, the company reported a total operating profit of 60.6 billion KRW (about $43 million USD), an 8% decline over the corresponding quarter in 2021. This decline in profit, according to HYBE Labels, was caused by a substantial investment made in the creation of a program for new group auditions as well as money spent on organizing offline shows.
The first Japanese group from HYBE Labels, &TEAM, will debut in the fourth quarter of 2022. The firm intends to start a global girl group initiative in 2023, with auditions held in the US.