Massive Hit Leisure, residence to the likes of BTS and TOMORROW X TOGETHER (TXT), held a company briefing Tuesady (Feb. 4) at Seoul’s Dongdaemun Design Plaza to current an outline of the final 12 months and its plans for 2020, together with its “profitable system.”
The occasion featured displays from Massive Hit’s co-CEO’s Bang Si-Hyuk and Lenzo Yoon in addition to representatives of Supply Music, which Massive Hit acquired final 12 months. Throughout the session, the corporate hung out sharing its enterprise mannequin, and shared a number of essential updates, together with the anticipated launch of a boy band, a deliberate woman group and an upcoming world tour for TXT.
Throughout the briefing, Massive Hit introduced that income doubled 2018 to 587.9 billion KRW (494.6 million) in 2019, and reached annual working income of 97.5 billion KRW (82 million).
Based on Bang, final 12 months noticed the corporate start to alter its construction and start to develop to develop into a multi-tiered enterprise and label, buying Supply Music and establishing Belift, a co-venture with CJ ENM.
The corporate additionally seemed in direction of diversifying its enterprise ventures, launching new tasks together with apps like Weply and Weverse, and increasing its live performance and touring experiences. Reside streaming and cinematic occasions had been main elements in enabling 5.5 million folks to witness parts of BTS’ excursions, Massive Hit defined, past the two.06 million who bodily attended BTS’ Love Your self and Converse Your self world excursions. Pop-up shops accompanying the excursions and experiential areas, such because the Home of BTS pop-up, additionally supported the corporate’s development, and Massive Hit will proceed to develop on the concertgoing expertise.
Lenzo Yoon used the occasion to debate how the corporate is exploring the “Massive Hit Profitable Method,” which is claimed to additional develop the success of artists’ below the corporate’s labels by using enterprise modularization to boost the client expertise and worth chain enlargement. This contains shifting past Massive Hit artists, with Yoon saying that boy band Seventeen, which is managed by Pledis Leisure will probably be “the primary of many” to enter Weverse, an app by which followers and artists can work together, in addition to by which followers can have interaction with a wide range of purchasable content material.
Based on a press launch from Massive Hit, Yoon harassed that “‘followers’ are the centerpiece of the ‘Massive Hit Profitable Method,’ that they’re on the middle of the music business and are certainly the core worth of the Massive Hit enterprise mannequin.”
A number of different main bulletins relating to upcoming and rising acts had been additionally shared throughout the company briefing.
Younger Jae Shin, Vice President of Massive Hit Labels, introduced plans to launch a brand new boy band in 2022, and shared plans for an upcoming world tour that includes TXT. One other boy band is deliberate to debut throughout the 12 months below Belift, a male act that includes multinational members that can assist convey concerning the model’s goal to convey “Okay-pop into the mainstream.” Based on Yoon Hyuk Choi, Belift vice chairman, he hopes to introduce Okay-pop’s incubation system for artists into the worldwide market.
So Sung Jin, president of Supply Music, mentioned a previously-announced grl group had been fashioned, and is predicted to be introduced to the world in 2021; the corporate goals to develop into the main woman group label on this planet, and already homes GFriend.
There are also plans for the discharge of various BTS-oriented inventive contents, together with a “Mic Drop” music video that includes BTS characters equivalent to those featured in a cartoonish remake of “IDOL,” a second The Notes e book, and a a sequence of “graphic lyrics” image books primarily based on The Most Stunning Second of Life that can characteristic 5 of BTS’ songs primarily based on the act’s songs and its fictive narrative, generally known as the BU or Bangtan Universe.
The corporate additionally shared an replace on the BTS- themed tv drama created in collaboration with Chorokbaem Media and written by Kim Su-jin, which is able to characteristic “a coming-of-age story about how the seven boys within the Bangtan Universe met and embarged collectively on their journey of therapeutic.”
Further content material, equivalent to “Study Korean with BTS” and a sport by Excellent Corp.are additionally within the works.
The occasion additionally featured the information that design staff STUFISH will work with Massive Hit on BTS’ upcoming world tour, which may also characteristic festival-like zones — beforehand restricted to Seoul stops — to assist improve the environment.
“Massive Hit will be sure that followers, artists and the corporate which represent the X, Y, Z axis of the music business can develop pretty collectively,” Bang mentioned throughout the closing of the occasion. “Massive Hit will continuously put efforts into making Massive Hit’s mannequin and methodology the business’s normal.”