As one of the key K-Pop companies, Big Hit Entertainment generates revenues from live concerts as well as recorded music. With its biggest act BTS seeing their world tour cancelled due to Covid-19, you might expect a hit to the company’s figures. And there was, but Big Hit’s financial results show that it more than made up for that impact with revenues from livestreamed concerts, related merchandise and recorded music.
MBW has the numbers: revenues for the first half of this year were up 47% year-on-year to 294bn Won ($249m). Around $20m of sales were generated by BTS’s ‘Bang Bang Con: The Live’ livestream in June. Big Hit has already scheduled a follow-up ‘online and offline concert’ for 10-11 October featuring the band, who’ll also be releasing a new album this year and – as we reported yesterday – a new mobile game.
Image by _JStone / Shutterstock.com
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