BigHit Entertainment’s value keeps rising
The value of BigHit Entertainment, which formed K-pop sensation BTS back in 2013, continues to rise to reach up to $2 billion, according to a Korea’s private think-tank.
In a recent report, the Hyundai Research Institute (HRI) said that the value of the Seoul-based management agency is somewhere between 1.28 trillion won ($1.08 billion) and 2.28 trillion won ($2.07 billion).
Because BigHit’s revenues mostly come from BTS, observers point out that the seven-piece boy band’s value is that high.
BitHit chalked up 214.2 billion won in sales last year to net 50.2 billion won in profit.
If BigHit lands on the upper end of the range, the agency would become the most valuable outfit in the industry by nudging past the traditional “Big Three” of SM Entertainment, JYP, and YG.
The HRI estimated that SM is valued at $1.3 billion while those of JYP and YG were put at $788 million and $492 million, respectively.
This is not the first time that the HRI analyzed the economic effect of the idol group.
Late last year, the institute said that the band is worth more than $3.6 billion a year to the country’s economy.
It also found that BTS, otherwise known as the Bangtan Boys, is the reason that one in every 13 foreigners visited Korea in 2017.
BTS is now on a globe-trotting concert tour after releasing its fourth studio album “Map of the Soul: Persona.”
After finishing its sold-out concerts in three U.S. cities, Sao Paulo, London, and Paris, the popular septet is scheduled to move toward Japan this week.