Hypebeast Ltd. (0150.HK) reports 2024 half year financial results
- The Group recorded revenue of HK$440.0 million and gross profit of HK$206.8 million in 1H2024.
- Average website monthly unique visitors (number of user who requests webpages across Hypebeast, Hypebae and Popbee platforms in a month) for the 12-month period ended 30 September 2023 amounted to 18.4 million, representing a 5.4% increase over prior period.
- Aggregated social media followers (total number of followers on all third-party social media platforms, including but not limited to Facebook, Instagram and X) increased from 33.2 million as at 30 September 2022 to 34.8 million as at 30 September 2023, representing a growth of approximately 4.8%.
Hypebeast Limited (Stock Code: 0150.HK) is a global leading platform for contemporary culture and lifestyle, and a premier destination for editorially-driven news and commerce. The Group announced its unaudited interim results for the six months ended 30 September 2023 (“1H2024”). The Group recorded revenue of HK$440.0 million and gross profit of HK$206.8 million in 1H2024.
Immersive, social and valuable digital media experiences
As global brands continue to shift their marketing dollars from traditional advertising to digital media, the
Group is well-positioned across several growing demographics and industries. Connecting its niche audiences through the blending of digital and physical experiences, the Group’s value proposition centered around a more immersive social and digital media experience continues to be highly valued by global brands.
In September 2023, the Group hosted its inaugural Hypefest event in Qinhuangdao, a secluded destination in the northeastern Hebei province of Mainland China that is known for its coastline. The two-day, weekend long offline event showcased a diverse range of regional and international cultural happenings. The event brought together over 15,000 Hypebeast audiences, and garnered close to 30 million impressions across its social media platforms, including Hypebeast’s WeChat, Little Red Book, Weibo, Douyin and Instagram accounts.
Consumable videos and video social platforms as a new avenue for advertisers
In an aim to attract and reach a wider user-customer base, the Group continued to further develop its new editorial properties, such as golf, arts and entertainment, and other content that appeals to its audience. To drive brand awareness and increase engagement with wider and new users and customers, the Group has also invested in short-form, consumable videos and video social platforms, recognizing them as a new avenue for advertisers to promote their brands.
Integrating HBX with its media platforms
The Group encourages user conversion through the integration of its shoppable media platform from its E-commerce and Retail Segment, directly with compelling and engaging content from its media platforms. The Group remains focused on value-added, return-on-investment driven upgrades to its E-commerce capabilities on broadening its reach and base of customers, expanding commerce experience and enhancing revenue and margin over time.
Through its strong brand positioning, high-profile networks and leverage of a secular shift across the media landscape, the Group is confident that it is geographically and strategically well positioned to capture growth opportunities.
For further details on the interim results, visit the Group’s corporate website to view the full results announcement.
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