Big Hit Entertainment, the South Korean entertainment company that manages BTS, achieved the highest earnings in its history. It was announced on March 31.
Based on the 2019 audited financial report posted on its official website, Big Hit posted KRW 587.2 billion in revenue, or US$507.9 million. Meanwhile, the operating profit reached KRW 98.7 billion or US$85.7 million. In 2018, the company's revenue was at KRW 214 billion (US$189.38 million). The numbers equate to staggering revenue growth of 95% and a 24% gain in operating profit. The second half of 2019 saw an immense jump as compared to the revenue posting of KRW 200.1 billion from the first half. The difference of KRW 387.2 billion accounts for almost 66% of sudden growth. At the helm of the entertainment company are CEO/Executive Producer Bang Si-Hyuk and CEO Lenzo Yoon, who is the Head of Business Sector. Big Hit Entertainment manages the K-pop groups of BTS, TOMORROW X TOGETHER (TXT), and soul ballad singer Lee Hyun. The company reported that the major growth driver for the past year came from physical album sales. BTS's album "Map of the Soul: Persona" made a record sales of 3.72 million copies. Global-super rookie TXT's two "The Dream Chapter" album sales also contributed to the total album sales of six million. Other drivers for the unprecedented achievement are through film releases and concert tours. BTS released two films with limited screenings. An exclusive one-day event "Love Yourself in Seoul" grossed US$11.7 million worldwide. The other film, "Bring the Soul: The Movie" raked in US$24.3 million from around the world. It was reported that BTS collected US$77.2 million from gate sales for their world tour, "Love Yourself: Speak Yourself" in May and June 2019. BTS World, a mobile game was also launched and hit number one on Apple's App Store around 25 countries in less than a day. It was accompanied by an OST that featured WRLD, Charlie XCX, and Zara Larsson. A Big Hit spokesperson said that the company pushed to increase its 2019 corporate structure by "transitioning into a multi-label system." The company acknowledged the remarkable success attained by BTS. Their other talents are also growing in their respective careers. Big Hit revealed that it has a promising set of trainees onboard. Big Hit Entertainment, Co. was established on Feb. 1, 2005, by Bang Si-Hyuk. Bang Si-Hyuk,47, is also known as "Hitman" Bang or Bang PD. He is considered the "Father" of BTS. Big Hit has one subsidiary label, Source Music. The other family companies under its wings are beNX, Belift, and Superb. As listed on their website, core services of the billion-won worth company are music production, publishing, new artist development, and artist management. It also ventures into 360-degree business, IP business, and platform business. BTS newest album, "Map of the Soul: 7" sold 347,000 albums in the U.S. in the first week it was released. It peaked at number one on the Billboard 200 chart. This is their fourth number one album in the Billboard charts.
South Korean boy band BTS at the 2018 MelOn Music AwardsBig Hit's background
