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Putting a Price Tag on BTS: How BTS Stimulates the Economy

voomvoom 2018.01.18 14:00
 
If you were to put a price tag on the boy band responsible for a worldwide K-pop "hallyu" wave, how much would it be? Here's a guess based on the revenues of BTS' label BigHit Entertainment, of which most of the credit goes to BTS.

How much is BTS worth?

 
 
In 2017, BigHit made around 60 billion won in revenue (over 56 million dollars), almost doubling its revenue of 35.5 billion won (over 33 million dollars) in 2016. BigHit is close to reaching one of the "top 3 labels" JYP Entertainment's revenue of 73.6 billion won (over 68 million dollars).
 
Judging by the fact that BTS has just achieved its heyday, many estimate BigHit's revenue to be higher this year. BigHit is only a step away from its first IPO, ready to be launched in 2018.
 
 
What's more, BigHit's revenue only reflects tangible sales, such as profit from album sales, concerts, characters(BT21), advertisement, and the performance fee. When you consider the intangible profits, such as the positive external effects of stimulating the economy as well as the positive media coverage on K-pop and the nation itself, BTS' economic value probably exceeds trillion won (935 million dollars).
 
Experts say that BTS surpassed revenue derived from PSY's 'Gangnam Style,' as BTS is not a one-hit wonder, but an artist whose music and performance is highly appreciated by the audience. This is also why experts claim that BTS has a bright future ahead.
 
 
 
Often dubbed as the 'BTS phenomenon,' the K-pop idol boys stimulate the economy all around the world. VT Cosmetics, a Japanese subsidiary company of GMP, signed an exclusive contract with BTS as of July 2017. As soon as the first store opened in Shin-Okubo, customers poured in. The VT X BTS Jumbo Brush set sold out on December 16, 2017, just two days since the store opening.
 
 
The city of Seoul also had her fair share of the 'BTS phenomenon.' 'With Seoul,' a BTS-performed song designed to promote Seoul, went viral online, with the M/V reaching 1,350,000 views in less than a day. Previously, on December 6, the Korean Tourism website server had crashed due to a rapid influx of fans eager to indulge themselves in the 'With Seoul' track.
 
How far and long the 'BTS phenomenon' will continue, no one really knows, but everyone seems to expect the fervor to carry on for quite some time.
 
By Gothesun and Suwon Han voomvoomk@gmail.com