Korean music firm Big Hit Entertainment held its latest media briefing yesterday, and dropped some impressive numbers to show how its business is surging in 2019.
The company’s revenues in the first half of 2019 were more than 200bn Won (around $166m) – already more than Big Hit’s revenues for the whole of 2018. And while BTS isn’t the entire story here, it’s clear that the band’s ‘Map of the Soul: Persona’ and the activity around it have been a big factor in Big Hit’s growth.
Some of the figures around this are equally startling. Billboard reports that Big Hit’s co-CEO Yoon Seok-jun claimed that recent gigs by BTS in South Korea “injected an estimated 481.3 billion won (~$400 million) into the Korean economy due to fan expenditures at concerts in Seoul and Busan” for example.
The event also saw Big Hit talking about its plans for more mobile gaming, following the launch of the BTS World game, as well as its work on fan-community and e-commerce through its WeVerse and Weply platforms.
The full event has been made available on YouTube, and it’s a mark of the fandom around Big Hit’s key acts that a day after the video went live, it already has 1.9m views. How many other ‘corporate briefing’ events could expect that kind of interest?!
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