Big Hit Entertainment estimated record sales of $244.8 million, announcing concerts in October. | HaB

Big Hit Entertainment estimated record sales of $244.8 million, announcing concerts in October.

Big Hit Entertainment, the label-management agency of K-pop giants BTS, announced Thursday that its estimated sales revenue during the first half of 2020 reached a record 294 billion won ($244.8 million) on the back of strong album sales and paid online concert revenues.

bts featured

In a biannual corporate briefing held on YouTube, the company added that its estimated operating profit during the January-June period reached 49.7 billion won. Big Hit said the numbers were subject to an audit before confirmation.

The estimates for sales and operating profit represent 46.9 percent and 27.1 percent hikes, respectively, from a year ago. Despite the cancellation of BTS‘ world tour and other activities due to COVID-19, Big Hit said it managed to achieve record sales from strong digital and physical albums sales as well as the mega-successful paid online concert by BTS held in June.

See Also:   BTS has arrived at Los Angeles International Airport, #BTSinAmerica trends worldwide

BTS online concert from 'The Most Beautiful Moment in Life' to 'Love Yourself' (4)

The event came about a week after Big Hit was approved by the Korea Exchange, South Korea‘s bourse operator, in a preliminary review to be listed on the country’s benchmark KOSPI stock index.

See Also:   BTS Collaborates With Sia & Troye Sivan for 'MAP OF THE SOUL : 7'

Thanks to Big Hit‘s past acquisitions of K-pop agencies Pledis and Source Music, of the top 100 albums on the Korea Music Content Association-operated Gaon chart, about 40 percent of all albums sold during the period in terms of volume were part of “Big Hit Labels.” These acts include idol groups BTS, Seventeen, NU’EST, GFriend, and TXT.

big hit labels

Big Hit also announced that BTS will hold a concert series, titled “BTS Map Of The Soul ON: E,” via both in-person and virtually streamed events in October. (Yonhap)

About the author

HaB Korea 해브코리아 We are tourism people, we are going to make you happy in Korea! It's your trip, HaB it your way.

Proceed Booking

Subscribe to Magazine HaB Korea via Email

Enter your email address to subscribe to our online Magazine HaB Korea and receive updates on the latest articles, events and special offers!

Thank you for subscribing. Please check your email and confirm your subscription.

Something went wrong.

Send this to a friend