Quantcast
ANOTHER BIG YEAR FOR BIG HIT

Revenue at BTS’s label, Big Hit Entertainment, grew 36% to more than $675m in 2020, double what the company generated in 2018. Operating profit was $121m, representing a 17.9% margin.

Recorded music was responsible for 40% of revenue—$272m; sales were up nearly 200% over 2019 figures. Advertising was up 133%. Merchandise & Licensing saw a 53% spike.

The company also announced that it saw its best quarter ever in 2020; fourth-quarter numbers were 312.3b won ($281m) in sales and 52.5b won ($47m) in operating profit.

The increases came despite Bit Hit's concerts division—formerly its biggest cash generator—having earned a mere $2.9m as COVID-19 ravaged the live segment.

"Even with COVID-19, we were able to post our best-ever results thanks to our solid business structure," read a statement from the company. "Alongside the continued growth of artists on Big Hit labels, we will keep expanding the scope of our business through mechanisms like mergers and acquisitions."

 

TAGS: Big Hit | BTS
HABTEMARIAM UPPED TO CHAIRMAN/CEO AT MOTOWN
A new chapter for Hitsville USA (3/2a)
GRAMMY CHEW: THE
PRE-GRAMMY BOUNCE
Let's hear it for ironic guitar-smashing. (3/2a)
NEAR TRUTHS:
PIE IN THE SKY
The stream is irrigating a money tree. (3/2a)
SOUNDCLOUD BANKS
ON FAN DEVOTION
A new approach to leveling the playing field (3/2a)
MICHAEL GUDINSKI,
1952-2021
Aussie music man left his mark everywhere. (3/2a)
BLACK HISTORY MONTH
A jazz chronicle of fighting the power.
GRAMMYS: WHERE TO FROM HERE?
After the snubs, the show.
ACQUITTED
In a phenomenal display of cowardice.
MOVING THE NEEDLE
When vaccination schedules and touring schedules meet.
 Email

 First Name

 Last Name

 Company

 Country
CAPTCHA code
Captcha: (type the characters above)