K-Pop Superstars 'BTS' Secret To Making Millions Of Dollars, Explained
BTS has taken the world by storm and has truly changed the landscape of K-Pop. Also known as the "Bangtan Boys", BTS is a 7 member Korean popular music band that have dominated the music charts and show absolutely no sign of slowing down. Chances are, even if you're not a fan of Kpop music, you've surely heard of the group and have seen them take over your television, music streaming channels, and all of your social media outlets. While there are many K-Pop bands that exist in the world, this particular group has risen to the very top echelon of fame and fortune and have far exceeded anyone's expectations on the charts. So what's the secret formula that has led to their undeniable success and uber-wealth?
According to Insider, a whole lot of hard work, incredible management, and a bit of lucky timing, all played in to the meteoric rise of one of the most famous groups in music history, BTS.
The group BTS stands for Beyond The Scenes, worked tirelessly behind the scenes to become noticed and popularized among their fans, but to the general public, they seemed to one day appear and turn the face of K-pop music completely upside down. They became national icons in 2018 when they churned out not one, not two, but three number one songs in the year, and their earnings started to boom. To further highlight the relevance of this achievement, it's important to note that three number 1's in a year has only ever been achieved by the Beatles.
The boys in the band are Kim Tae-Hyung (V), Jung Ho-Seok (J-Hope), Kim Nam-Joon, (RM), Kim Seok-Jin (Jin), Park Ji-Min (Jimin), Jeon Jung-Kook (Jungkook), and Min Yoon-Gi (Suga). If you didn't already know their names, you should make it a point to learn them now, because by all accounts, BTS is here to stay. They've become national icons, and by 2018 they were earning $57 million. YouTube notes this is more than the earnings of Lady Gaga.
The catchy dance pop tunes churned out by this band are as entertaining as the highly coordinated dance moves and matching, colorful outfits they wear on stage during their performances. Every aspect of their public persona is heavily managed and painstakingly chosen. Their attractive aesthetic vibe and high-energy performances are matched with their intensely raw, real lyrics which have proven to be very meaningful to their fanbase. Fans and followers of BTS swarm to their songs and easily connect to messaging about mental health and day-to-day issues that most people encounter throughout the natural process of their lives.
After 3 years of cultivating and perfecting every aspect of BTS, the CEO of big hit entertainment, Bang Si Hyuk, finally released their debut single, No More Dream, launching the boys to instant superstardom.
Their very first single only took two weeks to get to the #14 first single on Billboard music charts, and they went on to appear on a South Korean program called The Show, which led them to earn the award for "top social artists" sat the Billboard Music Awards in 2017. That was the spark that ignited the flame, and the American market took note of the new band that was pushing everyone aside to take their moment in the limelight.
Riding the waves of success and basking in the glory of their newfound American fanbase, the Bangtan Boys were directed to make appearances on some of the biggest talk shows in the nation. It took them no time at all to land appearances on The Ellen Show, Jimmy Kimmel Live, and James Corden. Their fan base continued to skyrocket, and their social media following was intensified.
The big ticket to wealth came when Bang Si Hyuk made a bold move in the stock market.
Reports indicate that in August of 2020"he distributed 68,385 shares to each member." The band earned $20 million overnight when the company which represents their brand went public. Their IPO listed its share price at $118, and the stock rose as high as "160% from its IPO price, to an estimated $300 per share.
If you're trying to work out the math on this, we'll give you a hand... that means that the band woke up to $8 million in earnings... each.
Proving to the world that there is no limit to their fame, or to their income potential, the band went on to create 2 concert films in 2018, titled Burn The Stage, and Love Yourself In Seoul. These two wildly successful concert films generated $20 million and $1o million, respectively.
Of course, all the die-hard BTS fans, and every person that has established a deep rooted crush on one of the band's 7 members are quick to snatch up the exclusive BTS merchandise that goes on sale. creating yet another massive income stream for the group.
Sources: Showbiz Cheat Sheet, Insider, CNBC
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