Big Hit Entertainment held a corporate briefing on August 13 to share the company’s plans and review their performance so far this year.
Chairman Bang Si Hyuk started off by revealing that the company recorded 294 billion won (approximately $248.3 million) in consolidated revenue and 49.7 billion won (approximately $42 million) in operating profit in the first half of 2020, according to tentative calculations. Compared to the first half of the previous year, Big Hit has seen a 46.9 percent growth in consolidated revenue and a 27.1 percent growth in operating profit.
The Chairman explained that while they faced difficulties due to the COVID-19 pandemic, such as the rescheduling of BTS’s world tour, they were able to overcome the crisis thanks to their successful album and music sales and online concerts.
Also helpful was the addition of Pledis Entertainment to Big Hit Labels. The groups under 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 albums chart. Sales for 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 Big Hit’s previous corporate briefing, the agency plans to launch a new boy group consisting of the final 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 titled “BTS Map of the Soul ON:E” both online and offline 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 slated to drop some time in the fourth quarter of this year.
Watch the latest episode of “I-LAND” below:
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