Research values Big Hit at over $1BThe value of Big Hit Entertainment, the agency of global K-pop sensation BTS, is estimated to be more than $1 billion, a local researcher said Thursday.
According to a report released by the Hyundai Research Institute (HRI), the value of the agency is estimated at between $1.1 billion to $2 billion, becoming a successful “unicorn,” which refers to non-listed ventures that are valued at over $1 billion.
Earlier this month BTS held performances at Wembley Stadium, the biggest concert venue in Britain, where such big-name artists as Michael Jackson, Madonna and Celine Dion have performed. BTS has held concerts in 18 different countries over the past six years.
As of end-May, the group sold 3.23 million units of its latest album, “Map of the Soul: Persona.” The researcher said such factors have made the corporate value of Big Hit higher than ever.
The popularity of BTS also grew on the back of millennials using social media to share the group-related contents, the institute said. The strong fandom across Asia, the United States and other regions is another of strength of the band, it added.
Meanwhile, the Busan Metropolitan Government said Thursday the Busan Asiad Main Stadium will not be open to fans wanting to watch a BTS concert on a screen next week.
The city government considered allowing fans who can’t get into the BTS concert slated for June 15 to 16 at Busan Asiad Auxiliary Stadium to watch the show on the screen from the stands in the main stadium.
After discussions with an agency in charge of planning the show, the government said it decided to not open the main stadium considering fairness with paid attendees and technical problems.
But part of the stands in the main stadium will be open to fans waiting to be admitted to the show, officials said.