South Korean media firm Huge Hit Leisure is powering by way of 2020 in a giant approach, the corporate’s founder and chairman-CEO Bang Si-hyuk revealed as we speak (August 13) throughout a company briefing held in Seoul.
Regardless of the corona pandemic altering touring plans for a lot of artists below Huge Hit’s auspices, within the first half of the 12 months the corporate projected income of 294 billion KRW ($244.8 million USD) and 49.7 billion KRW ($41.4 million ) in related working earnings from music gross sales, mental property (IP) releases, and different Huge Hit ventures.
The “Huge Hit Ecosytem” is at the moment made up a multi-label and enterprise system that features quite a few manufacturers and firms, together with music labels Huge Hit (BTS, TOMORROW X TOGETHER (TXT)), Pledis Leisure (Seventeen, NU’EST), and Supply Music (GFriend). Artists inside it had a serious 12 months in regard to album gross sales: Bang introduced that artists below the Huge Hit multi-label system dominated South Korea’s Gaon album chart, with 40% of all album gross sales. BTS and Seventeen gathered 53% of all prime 10 gross sales between their pair of recent albums; the previous’s Map of the Soul: 7 recorded over 4.26 million albums offered, whereas the latter’s Grasp:garae offered over 1.2 million albums.
Seventeen, who’re below the auspices of Pledis Leisure which was invested in by Huge Hit earlier this 12 months, is described by Bang as being poised to reflect BTS’s international rise as a prime Ok-pop group. Based on him, the 13-member boy band is seeing progress that mirrors that of celebrity septet BTS two or three years in the past. He described Seventeen as Huge Hit’s “subsequent mega IP.”
Although Bang didn’t announce any particular plans for Seventeen past their upcoming digital fanmeet on the finish of August, the corporate has huge plans for its artists all through the remainder of 2020: BTS will maintain their Map of the Soul ON:E on-line and offline live performance in October and launch an album in the long run of this 12 months (quarter 4), and that very same month NU’EST will launch a brand new Japanese album. TXT can even launch a brand new album within the autumn, and a brand new boyband is at the moment being produced by way of the tv sequence I-LAND by BELIFT LAB, a three way partnership between Huge Hit and CJ E&M.
Past 2020, Huge Hit is planning to debut a brand new woman group in 2021, which Bang described as being a “international woman group from various backgrounds and languages.”
Together with inventive releases, the briefing additionally addressed the success of name collaborations with the likes of Samsung and Starbucks this 12 months, and the launch of and numerous IPs launched by BTS this 12 months – together with the launch of the animated TinyTAN BTS counterparts and a graphic lyrics ebook sequence. Based on Huge Hit, it offered 458 IP official merchandise simply within the first half of 2020.
The corporate has many planned-IP releases for the remainder of the 12 months, together with a Korean language-learning ebook and programs created in affiliation with the Korea Basis and Hankuk College of International Research, upcoming video games, and The Most Lovely Second in Life: The Notes 2 on August 25, a sequel to a previous ebook that continues exploring the literary world of the “BTS Universe” story that permeates all through BTS’s profession.
The company briefing comes as Huge Hit makes transfer to go public, with an preliminary public providing [IPO] within the works. The corporate lately reportedly handed a preliminary screening to seem on the Korea Trade, and is now eligible to file a securities registration with the nation’s Monetary Providers Fee.