Page 24 - Issue-27

ELITE

according to Chart Data. Their YouTube channels are one
Big Hit Entertainment went public mid-October with an initial
of the top ten most subscribed music channels (with over
public offering (IPO) in Seoul, making its founder Bang Si-
13 billion views this year). Currently, BTS signed in
hyuk a billionaire.
multiple collaborate as online game MapleStory, Rhythm
The stock was released at 135,000 won ($118) when Big Hit
Hive, Baskin Robbins Korea, New Era Korea, Chilsung
Entertainment debuted, and opened at 270,000 won ($236),
Cider, BODYFRIEND, Samsung, Starbucks Korea, FILA,
ending the day at 258,000 won ($225). All in all, a total of
Hyundai, Line Friends, and many others.
approximately 963 billion won ($840 million) was earned.
In 2020, the social influence of BTS was intensified by the
The business is now worth around 8.7 trillion won ($7.5
group participation in subjects such as racial inequality and
billion). Almost 90% of its revenue stream is due to its strong
the problems raised by the virus. On June 4, BTS tweeted,
reliance on BTS.
using the hashtag #BlackLivesMatter “We stand against
The financial results of Big Hit for the first half of this year
racial discrimination. We condemn violence.. ”.
showed content and merchandise revenues, due to its large
Shortly after, the news has announced that the band donates
audience and loyal fan base were scarcely impacted by the
$1 million to the campaign. BTS ARMY, the group ’s
pandemic. While concert revenue plummeted 99 percent in
dedicated fanbase, matched a million in a span of 24 hours.
the first half of 2020, total revenue declined just 8 percent,
Donations have been tracked via the "One In An ARMY"
thanks to an album sales rise of 80 percent.
BTS fan-based charity fundraising project, which has
According to the midyear report of Nielsen Music and MRC
coordinated many previous fundraisers powered by fans.
data, Map of the Soul: 7, released on February 21, 2020,
BTS also delivered a speech at YouTube ’s online
became the only album released this year that sold over half a
graduation event “Dear Class of 2020 ” on June 7th
million copies in US. The report also places BTS as the
alongside speakers including Barack and Michelle Obama.
second most consumed genre artist in US. The album sold
On Sept. 23, they spoke at the 75th U.N. General
more than 4.1 million copies for the first time in the history of
Assembly on how the coronavirus pandemic has impacted
Gaon Album Chart in less than nine days of its release, setting
their lives as artists.
the Guinness World Record for the best-selling album in
Finally, it is very unusual for a Korean artist to have such
South Korea.
an influence on a nation's economy, industry, and culture,
The generated revenue does not depend on tours, shows, and
and for it to be BTS who came from a very small company,
album sales only, but also on a combination of other different
talk and sing in Korean, it was something they didn't even
things. Like digital song sales on different digital platforms,
imagine, but here we are in 2020 where BTS has an impact
different social media accounts, advertising, and brand
on all imaginable sectors of
collaboration. For example, the dropped English-language
South Korea and also the world as a whole. The data
single in August “Dynamite ” gained 101 million views to
proves that BTS is the national treasure and pride of South
become the most viewed video in 24 hours, sold more than 2
Korea that brings a positive impact.
million pure copies in US,

22