June 17, 2020 11:10
Two Korean music executives have been included on U.S. magazine Billboard’s list of 2020 Indie Power Players.
Named on the list were Bang Si-hyuk, the CEO of Big Hit Entertainment, which manages Bangtan Boys, also known as BTS, and JYP Entertainment CEO Jeong Wook.
The indie power players are selected from executives at music labels and distributors who have made outstanding achievements in the global music market. Executives of the three major labels in the U.S. -- Universal Music Group, Sony Music Entertainment and Warner Music Group -- are not eligible.
Billboard said, "Multiplatinum albums, a global stadium tour, an army of fans -- BTS has achieved it all with Bang's independent Big Hit Entertainment."
It added, "Big Hit reports US$507.9 million in revenue in 2019, a 95 percent increase over its (as yet unaudited) 2018 numbers."
About Jeong and JYP, it said, "The company's distribution partnership with The Orchard has given it a global reach. Since early 2019, The Orchard has handled worldwide distribution for JYP's roster of boy bands and girl groups including GOT7, Day6, TWICE, Stray Kids and ITZY."
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