The Influence of BTS on the Expansion of Its Affiliated Company
- 1 Montverde Academy Shanghai
* Author to whom correspondence should be addressed.
Abstract
There are many articles related to the Korean entertainment industry, but there are very few descriptions and analyses of individual groups or artists. Therefore, the research topic of this paper is the influence of BTS on the expansion of its affiliated company. This paper examines the impact of BTS on the company from three perspectives: the impact of BTS on the company's profitability, the company's popularity, and the company's strategic direction. Bighit has gone from being on the brink of bankruptcy to being one of the top four entertainment companies, and it's a credit to BTS. In 2016 BTS released the album The Most Beautiful Moment in Life which made Bighit's first turnaround, and the company's name gradually began to be known to the public and received its first investment, which Bighit also relied on to get out of trouble, and in 2018 BTS released the album Love Yourself, which once again caused a sensation and started its concert tour. BTS’s high popularity could lead to good popularity for new groups to be launched in the future; the success of BTS in the US and Korea also led HYBE (Original Bighit Entertainment) to focus on these markets and to launch groups such as TXT for the Korean market. Therefore, it is found that BTS has a significant impact on the expansion of the company in terms of company size, market share, company popularity, acquisition, and strategic markets.
Keywords
Korean entertainment, expansion, popularity
[1]. Koreaboo. (2021) “Big 4” HYBE, SM, JYP & YG Reveal Their Profits For 2021’s 1st Quarter. https://www.koreaboo.com/news/hybe-sm-jyp-yg-profit-revenue-2021-q1/
[2]. J. Parc, Yeogeun Yonsue Kim. (2020) Analyzing the Reasons for the Global Popularity of BTS: a New Approach from a Business Perspective. Journal of Business and Economy, 21(1),15-36.
[3]. HITC. (2022) A look at BigHit’s girl group Glam scandal that led to disbandment. https://www.hitc.com/en-gb/2022/05/20/a-look-at-bighits-girl-group-glam-scandal-that-led-to-disbandment/
[4]. Billboard. (2019) Songs That Defined the Decade: BTS’ ‘I Need U’. https://www.billboard.com/music/music-news/bts-i-need-u-songs-that-defined-the-decade-8543872/
[5]. ChartMasters. (2022) BTS albums and songs sales. https://chartmasters.org/bts-albums-and-songs-sales/
[6]. Asiaone. (2022) Legend Capital Portfolio: Japan’s NO.1 VTuber Operator ANYCOLOR Lists on the Tokyo Stock Exchange. https://www.asiaone.com/business/legend-capital-portfolio-japans-no1-vtuber-operator-anycolor-lists-tokyo-stock-exchange
[7]. TheStar. (2021) No Grammy, no problem – K-pop group BTS still made history. https://www.thestar.com.my/lifestyle/entertainment/2021/03/15/even-without-a-grammy-k-pop-group-bts-goes-on.
[8]. W. Hu. (2002) Interpret “Market Share”. Enterprise Vitality 2002(03), 26-27.
[9]. Statista. ((2022) BTS album total sales in South Korea 2013-2022. https://www.statista.com/statistics/865087/south-korea-bangtan-boys-album-domestic-sales/.
[10]. Statista. (2022) EXO album sales in South Korea 2012-2021. https://www.statista.com/statistics/1250829/south-korea-exo-album-sales/.
[11]. Allkpop. (2018) BTS revealed to have an incredible impact on the South Korean economy. https://www.allkpop.com/article/2018/12/bts-revealed-to-have-an-incredible-impact-on-the-south-korean-economy.
[12]. Allkpop. (2022)“ HYBE owns how much of Pledis?” The percentage of how much HYBE owns in each company they invested into. https://www.allkpop.com/article/2022/08/hybe-owns-how-much-of-pledis-the-percentage-of-how-much-hybe-owns-in-each-company-they-invested-into.
[13]. Hypebae. (2021) BTS’ Management Company HYBE Corporation Acquires Justin Bieber and Ariana Grande's Music Label. https://hypebae.com/2021/4/hybe-corporation-bts-big-hit-entertainment-scooter-braun-ithaca-holdings-merger-acquisition-k-pop-justin-bieber-ariana-grande-info.
[14]. Investopedia.(2022) Economies of Scale: What Are They and How Are They Used?, https://www.investopedia.com/terms/e/economiesofscale.asp.
[15]. Investopedia. (2022) What Is Horizontal Integration? Definition and Examples. https://www.investopedia.com/terms/h/horizontalintegration.asp.
[16]. HITC. (2022) HYBE Game Caterers episode 3 release time, preview and where to watch. https://www.hitc.com/en-gb/2022/07/29/hybe-game-caterers-episode-3-release-time-preview-and-where-to-watch/.
[17]. Soompi. (2020) Mnet’s “I-LAND” Announces “BTS, Into The I-LAND” Coming Soon. https://www.soompi.com/article/1416242wpp/mnets-i-land-announces-bts-into-the-i-land-coming-soon.
[18]. Allkpop. (2022) The most-searched male idols on Melon Music in 2022. https://www.allkpop.com/article/2022/06/the-most-searched-male-idols-on-melon-music-in-2022.
[19]. Kbizoom. (2021) Top 10 most searched Kpop boy groups on Melon in June 2021: Will BTS’s position be shaken when EXO and SEVENTEEN come back? https://kbizoom.com/top-10-most-searched-kpop-boy-groups-on-melon-in-june-2021/.
[20]. Variety. (2021) China Poised to Give Korean Content a Boost After Three Year Boycott. https://variety.com/2021/film/asia/china-giving-korean-content-boost-after-boycott-1234920540/.
[21]. Kbizoom. (2023) HYBE Bang Si Hyuk talks about the acquisition of SM shares, “I sympathize with Lee Soo Man’s direction.”.https://kbizoom.com/hybe-bang-si-hyuk-talks-about-the-acquisition-of-sm-shares-i-sympathize-with-lee-soo-mans-direction/.
[22]. CNN. (2018) Boy band BTS becomes first K-pop group to top US Billboard 200. https://edition.cnn.com/2018/05/28/asia/bts-billboard-chart-intl/index.html.
Cite this article
Chen,S. (2023). The Influence of BTS on the Expansion of Its Affiliated Company. Advances in Economics, Management and Political Sciences,21,159-164.
Data availability
The datasets used and/or analyzed during the current study will be available from the authors upon reasonable request.
Disclaimer/Publisher's Note
The statements, opinions and data contained in all publications are solely those of the individual author(s) and contributor(s) and not of EWA Publishing and/or the editor(s). EWA Publishing and/or the editor(s) disclaim responsibility for any injury to people or property resulting from any ideas, methods, instructions or products referred to in the content.
About volume
Volume title: Proceedings of the 2023 International Conference on Management Research and Economic Development
© 2024 by the author(s). Licensee EWA Publishing, Oxford, UK. This article is an open access article distributed under the terms and
conditions of the Creative Commons Attribution (CC BY) license. Authors who
publish this series agree to the following terms:
1. Authors retain copyright and grant the series right of first publication with the work simultaneously licensed under a Creative Commons
Attribution License that allows others to share the work with an acknowledgment of the work's authorship and initial publication in this
series.
2. Authors are able to enter into separate, additional contractual arrangements for the non-exclusive distribution of the series's published
version of the work (e.g., post it to an institutional repository or publish it in a book), with an acknowledgment of its initial
publication in this series.
3. Authors are permitted and encouraged to post their work online (e.g., in institutional repositories or on their website) prior to and
during the submission process, as it can lead to productive exchanges, as well as earlier and greater citation of published work (See
Open access policy for details).