Forbes on How BTS Became the Most Famous Boy Band in the World

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Photo from BTS official Facebook

The American business magazine Forbes dealt with BTS' label Big Hit Entertainmentand its all-time high net profit and growth since its birth in 2005.

BTS and Big Hit's growth analyzed from a business perspective.

Photo from BTS official Facebook

In a March 23 article, Forbes writes "Korean act BTS had an immense 2017 that saw them…take home numerous awards and become one of the world’s most prominent boy bands. And their hard work has paid off, literally. (…) Big Hit Entertainment revealed that its net profit for last year surged over 17% year-over-year."

According to Big Hit Entertainment's full-year audit report and released revenue, Big Hit recorded sales amounting to 92.4 billion KRW ($86 million USD), 32.5 billion KRW ($30 million USD) on operating profit, and a net profit of 24.6 billion KRW ($22.7 million USD). Compared to the previous year, sales rose 162%, operating profit 215% and net profit 173%. Forbes attributes the growth mainly to sales of BTS' 'Love Yourself: Her' EP and the 2017 Wings tour.

Photo from BTS official Facebook

Forbes notes that while BTS started from the bottom, with "underdog roots as a K-pop group from a small label," the boy band and the label is "gaining recognition and moving into the upper echelons of Korea's music industry."

Forbes also mentions the possibility of Big Hit Entertainment going public, based on its "past year of growth, plus Bang's intent to create new acts." Should the company go public, Forbes says that "it will be one of the most prominent IPOs to ever touch the K-pop world due to the act's global appeal" and join the 'Big 3' Korean entertainment agencies.

By Gothesun and Suwon Han voomvoomk@gmail.com