Big Hit Entertainment held a corporate briefing on August 13 to share the company’s plans and monitor its performance so far this year.
Chairman Bang Si Hyuk began by opening that the company won 294 billion (about $ 248.3 million) in consolidated revenue and 49.7 billion (about $ 42 million) in business profit in the first half of 2020, according to tentative calculations. Compared to the first half of the previous year, Big Hit saw a growth of 46.9 percent in consolidated revenue and a growth of 27.1 percent in operating profit.
The chairman explained that although they were facing difficulties due to the COVID-19 pandemic, such as the replanting of the BTS world tour, they were able to overcome the crisis through their successful album and music sales and online concerts.
Also useful was the addition of Pledis Entertainment to Big Hit Labels. The groups among the agencies in Big Hit Labels are BTS, TXT, GFRIEND, NU’EST, and SEVENTEEN. Combined, the five groups accounted for 40 percent of all album sales within the top 100 of Gaon’s album chart. Sales of BTS’s “Map of the Soul: 7” (4.26 million copies) and SEVENTEEN’s “Heng: garæ” (1.2 million copies) accounted for 53 percent of the top 10.
As announced in the previous corporate hit of Big Hit, the agency plans to launch a new boy group consisting of the definitive winners of ‘I-LAND’ this year, as well as a girl group with Source Music in 2021 and another boy group in 2022
Near the end of the briefing, Big Hit Entertainment announced that BTS will be holding a concert entitled “BTS Map of the Soul ON: E” in October. Chairman Bang Si Hyuk asked fans to look forward to BTS’s upcoming English-language digital single “Dynamite” and revealed that the group’s new album was intended to drop some time in the fourth quarter of this year.
Watch the latest episode of “I-LAND” below:
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