Tuesday, September 8, 2020

BTS given Big Hit Entertainment shares ahead of its IPO | Music Ally

Given BTS’s role in the growth of K-Pop giant Big Hit Entertainment, it should come as no surprise that the group will benefit from the company’s upcoming IPO.

Reuters reported this month that each of the seven members of BTS has been given 68,385 shares in the company “to strengthen long-term partnership with major artists and boost morale”.

If the IPO hits its upper price target, that could mean a windfall of nearly $7.8m per member.

This isn’t pure generosity on the part of Big Hit, of course: the filing that revealed the share giveaway also explained that BTS accounted for 87.7% of the company’s revenues in the first half of 2020, and 97.4% for the same period last year.

Stuart Dredge

[from https://ift.tt/2vCxqPg]

No comments: