Bang Si Hyuk, Big Hit Entertainment’s CEO “Big Hit achieves revenue of 200.1 billion won in the first half of this year, operating profit of 39.1 billion won … Music industry innovation”

On August 21, Big Hit Entertainment’s executives met with the press during a presentation titled ‘An Explanation of Big Hit with the Community’.

During this presentation, head producer Bang Si Hyuk stated, “Big Hit Entertainment was able to record the company’s best performance in the first half of this year since its creation. Just in the first half of 2019, we have reached total sales of over 200 billion KRW (~ 166 million USD), an amount nearly matching the company’s entire sales in 2018. The company also recorded operating profits of 39.1 billion KRW (~ 32.5 million USD), nearly 2/3 of last year’s total operating profits.”

The producer continued, “Thanks to BTS’s explosive popularity around the world in the past few years, there was also much talk regarding Big Hit Entertainment. We are thankful… However, as Big Hit continued to make various large and small announcements, the community began to take more interest in what sort of company Big Hit is, and what it hopes to achieve.”

According to Bang Si Hyuk, the goal of Big Hit Entertainment is as follows: “Big Hit dreams of innovating the music industry. Innovation as in providing a completely new and different solution. We intend to instill change, expand proportions, and reform the system, resulting in the betterment of the overall quality of life for all practitioners in this industry.”

Further explaining that compared to the quality of practices in the Korean game industry, the Korean music industry’s systems are still outdated and undermined, Bang Si Hyuk shared additional details on Big Hit’s future plans after merging with game company Superb. He said, “Big Hit believes that our primary industry of music has the potential to form a great synergy with the game industry. Particularly, we have sought opportunities in the field of music games, as we felt this field was a strong match with our capacities. Our recent partnership [with Superb] will bring positive possibilities and worth to the numerous multi-labels which we plan to expand on soon. Even outside of ‘Superb’, Big Hit’s partnership with game companies such as Netmarble will also continue.”

Next, Bang Si Hyuk also commented on Big Hit’s recent merger with Source Music. “We plan to launch a global audition in partnership with Source Music. Through these auditions, we will form members of a rookie girl group. Please look forward to it,” the producer revealed.

Finally, regarding future steps for Big Hit’s primary group BTS, Bang Si Hyuk relayed, “We have partnered up with a top drama production company in order to launch a drama series in early 2020. It will detail the story of BTS’s universe, and the time period when the 7 youths first met.”

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original post: naver

1. [+594, -12] At this time, Big Hit is definitely the TOP 3. The explosion of BTS and YG is collapsing, so it’s amazing.

2. [+434, -7] Be sure to develop your celebrities cleanly, just like you do now.

3. [+85, -0] Bang Si Hyuk really has a different view

4. [+55, -3] First of all, congratulations, but I hope you don’t open up any more additional business, so just stick to the nature of the music. Except for music, I want to know where you are the best. I want you to focus on BTS, nurture new faces and cultivate them. The song is the most important thing. If the song continues to be good, BTS will truly dominate the world.

5. [+31, -1] Legend of success, reliable and luxurious national brand, our BTS image will never be destroyed, just so and Big Hit will be respected!

6. [+27, -1] Oh, they’re surpassing the profits of so many big agencies with BTS. It’s a famous and talented group, never have any other such groups appear again.

Categories: Naver