April 01, 2020 13:02
Big Hit Entertainment, the relatively new agency that struck lucky by boy band Bangtan Boys, also known as BTS, has grown to become one of Korea's Top 3 entertainment mills.
According to an audit report published Tuesday, Big Hit made W587.2 billion in sales in 2019, up a whopping 95 percent on-year (US$1=W1,224).
Its operating profit rose 24 percent to W98.7 billion, beating the industry's previous Big 3 -- SM Entertainment. JYP Entertainment and YG Entertainment.
Last year, SM made W657.8 billion in sales and a W40.4 billion operating profit, followed by JYP with W155.4 billion in sales and W43.5 billion in operating profit.
YG, whose image has been tarnished by scandals involving its former CEO Yang Hyun-suk and several artists in its stable, posted W264.5 billion in sales and just W2 billion in operating profit.
Big Hit's success is thanks almost entirely to BTS. Their album "Map Of The Soul: Persona" sold about 3.72 million copies in 2019, becoming the bestselling album of all time in Korea, according to Gaon Music Chart. They recently even broke that record with their latest album "Map of the Soul: 7" released in February.
The BTS world tour "Love Yourself: Speak Yourself" grossed US$170.34 million in 2019, ranking fifth on in the year's Worldwide Ticket Sales Top 100 Tours chart.
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