Big Hit Entertainment, BTS’ management agency, has exceeded $1 billion in corporate value, a report by Hyundai Research Institute disclosed. As per the report, their value is estimated between 1.28 trillion Won ($1.08 billion) and 2.28 trillion Won. The company has been classified as a unicorn due to these figures.
In March 2019, Big Hit revealed their operating Profit in 2018 increased 97% from its previous year making a jump of 64.1 billion Korean Won ($56.72 million). They also collected revenue of 214 billion KRW ($189.38 million), a 132% on-year gain. Big Hit’s 2018 net income was 50.2 billion KRW ($44.41 million), up 105% year-on-year.
BTS recently held a concert at Britain’s Wembley Stadium, following the league of artists like Queen, Michael Jackson, Madonna and Celine Dion. Their performance was right in time for their latest album release, “Map of the Soul: Persona,” that sold 3.23 million units by the end of May.
Future of Big Hit Entertainment
If Big Hit Entertainment meets the HRI’s estimate, they would be surpassing, the top 3 K-Pop agencies, S.M. Entertainment, J.Y.P Entertainment, and Y.G Entertainment — in operating profit with 64.1 billion Won, up 97.1% from the previous year.
Currently, S.M. Entertainment, J.Y.P Entertainment, and Y.G Entertainment are valued at 1.6 trillion Won or $1.3 billion, 929.6 billion Won, or approximately $788 million, 580.5 billion Won, or approximately $492 million respectively.
The report further discusses the major forté of the band in building a geographically diverse fandom. They are currently spread across Asia, Europe, the United States and many other nations. The reason for BTS’ fandom spreading like wildfire goes to their fans, who are lovingly called Army. Social media is another key element that has leveraged BTS’ growth panning from the music industry to merchandise.
Big Hit Entertainment seeks to stay private despite rumours of stock market flotation and valuation estimates, thus far.
- 2019.11.12“Soundtracks are a whole world in themselves”, Dave Porter, Music Composer
- 2019.11.08From a High-School dropout to winning the Best India Act at the European Music Awards 2019–The Emiway Bantai Story
- 2019.11.02Celebrating the life of Champak Jain, Producer & Owner of Venus Records & Tapes: 1966-2019
- 2019.10.31Sony Music’s revenue for Q2/FY2019 tops USD 2 bn, physical sales up by 3.6%