The company behind K-Pop sensation BTS is trying to keep covid-19 from stopping the music.
“Big Hit’s business will see a huge impact due to the virus,” says analyst Yoo Sung-man of Hyundai Motor Securities. Last year Big Hit earned $63 million on a record $507 million in revenue, up more than 160% since 2018. But Yoo has slashed his earlier forecast of $616 million revenue this year to a mere $277 million. A spokesperson did not respond to a request for comment on Yoo’s downgrade.
An early BTS clip from 2013 shows the band’s leader, who goes by the stage name RM, in a studio at midnight. He says to the camera: “To be honest, I’m cold, I’m hungry and I’m sleepy—I just want to go home.” Videos like these made BTS more relatable to fans. “K-Pop fans are multilayered. It’s not that they simply like the music or lyrics. It’s as if they’re dating the artists,” says Yoon. “We focused on creating strong content, such as the clips we uploaded on YouTube.
The firm faces another hurdle: BTS’ oldest member Kim Seok-jin, 27, is due to start South Korea’s mandatory 18-month military service next year. When that happens, Bang and Yoon may launch some members into solo acts—a common practice for agencies that have faced similar transitions. There are some workarounds. “Content can be released while members are in the army, as long as it was clearly produced prior to enlisting,” says Herman.
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