You may have noticed that K-Pop band BTS are just a little bit popular around the world. That’s now translating into financial success for the company behind them, Big Hit Entertainment. The firm reported a 132% growth in its annual revenues to 214bn won (around $190m) in 2018, with an operating profit of 64.1bn won ($56.7m) and a net profit of 50.2bn won ($44.5m) according to the Korea Herald.
“Following 2017, 2018 was the year that showed best record in both rate of return and the size of business, due to BTS’ record-breaking path and expansion in business areas,” said Big Hit in a statement. “We continuously improved our management system to innovate business model in music industry, while discovered new areas of business.”
Album sales, merchandise and publishing are among the income streams boosting the company’s performance. As we reported earlier this month, BTS are preparing for the release of a new album with a globe-straddling location-based scavenger hunt, including participation from Spotify in Asia.