Big hit entertainment
BTS Accounts for Nearly 1/3 of All U.S. K-Pop Sales & Streams: Their Domination, By the Numbers
BTS members’ decision to take time off for solo projects is bound to shake up K-pop music consumption in the U.S. because of the group’s dominance in the genre. And the band’s label, Big Hit Music — a division of HYBE, which Universal Music Group’s Geffen Records has distributed in the U.S. since last year — will have a tough time filling the hole. Since the beginning of 2021, BTS has accounted for 29.4% of sales and on-demand streams of K-pop music in the U.S., according to a Billboard analysis of Luminate data. Over that time, BTS did not release a new studio album but put out two “best of” collections — BTS, the Best in June 2021 and Proof on June 10, 2022. BTS also released multiple variations of the tracks “Butter” (including a remix with Megan Thee Stallion), “My Universe” and “Permi...
Breaking Down BTS Label Big Hit’s 2020 Earnings
A new BTS album, Map of the Soul: 7, and four mini album releases by the group Seventeen from Big Hit’s investment in K-pop label Pledis in May, helped Big Hit sell 13.2 million albums. That’s up 54% from 2019, with $288.5 million of revenue — a 196% improvement. Eight tracks from Map of the Soul: 7, released last February, spent time on the Billboard Global 200 Chart in 2020, with BTS’ later singles “Dynamite” and “Life Goes On” both reaching No. 1. In the U.S., Map of the Soul: 7 sold 674,000 units in 2020 while its tracks were streamed 715 million times, according to MRC Data. Normally, Big Hit’s holistic business model is well suited to the modern music business. But the pandemic killed touring, traditionally Big Hit’s largest revenue stream, and favored record companies that can...
BTS Label Big Hit Entertainment Doubles Shares in Smash Stock Market Debut
A strong debut was expected by industry analysts given BTS’ enormous fanbase, officially termed the BTS ARMY, who are quick to pounce on virtual and physical concert tickets, album collectibles and other extensive merchandise lines. BTS accounted for more than 80% of the company’s revenue during the first half of 2020, according to a report by investment management company Samsung Securities. The group — consisting of members J-Hope, RM, Suga, Jungkook, V, Jin and Jiminwhich — launched in 2013 and has since performed sold-out shows across the world, breaking numerous Billboard chart records in the process. BTS became the first K-pop act to top the Billboard Hot 100 last month with “Dynamite,” their first all-English song, and this week occupies the top two slo...
BTS Set to Make Millions as Big Hit Entertainment Goes Public
The seven members of the K-pop supergroup BTS are set to make millions when their label Big Hit Entertainment goes public in October. Demand for shares in Big Hit has hit record levels, driven in part by fans of the boy band, giving the music giant a valuation of $4.1 billion. Big Hit’s Oct. 15 IPO will be South Korea’s largest in three years. The IPO will make Big Hit founder and co-CEO Bang Si-hyuk, known widely as “Hitman” Bang, a billionaire. In August, Bang gave each BTS member shares in the company, which are currently valued at almost $8 million. As well as being home to RM, Jin, Suga, J-Hope, Jimin, V, and Jungkook, Big Hit’s roster includes the five-member boy band TXT and singer Lee Hyun. BTS makes up the vast majority of Big Hit’s revenue, gen...
Big Hit Entertainment, Home to BTS, Strikes Deal With Seventeen Label PLEDIS
Expanding its strategy to build a multi-label structure, Big Hit is now the largest shareholder of PLEDIS Entertainment. South Korea-based powerhouse Big Hit Entertainment has become the largest shareholder of record label PLEDIS Entertainment, home to K-pop superstars Seventeen and NU’EST, it was announced Monday. Under the terms of the deal, PLEDIS will retain its independence as a label, though its artists will now receive support from Big Hit’s business entities and support organizations to expand their reach into overseas markets — similar to the way Big Hit turned boy band BTS into a top-charting phenomenon across the globe. The PLEDIS deal is the latest move in Big Hit’s strategy to expand its multi-label structure following the company’s acquisition of Source Music last ...
Big Hit Entertainment Global CEO Lenzo Yoon Talks New Role, ‘Localizing’ In the U.S. & Growing Artist Roster
“Any new service that Big Hit will present all starts from our business philosophy of ‘What content will fans enjoy the most?'” A decade into his tenure at Big Hit Entertainment, Lenzo Yoon is gearing up for some big moves — both in the company and in his personal life. One of the biggest takeaways of last week’s executive changeups at Big Hit Entertainment — the South Korean label home to the record-breaking BTS, Tomorrow X Together and GFriend — came in co-CEO Lenzo Yoon’s expanding his role to Global CEO and soon leading from the United States. The move not only pointed to a more global outlook for the company (which had its biggest year ever with a record $500 million in revenue in 2019), but also that it was official...
