Massive Hit Leisure, house to BTS and TOMORROW X TOGETHER (TXT), held a company briefing in Seoul on Wednesday (Aug. 21), the place executives laid out the corporate’s imaginative and prescient for the long run.
In a video shared on YouTube, the session started with Massive Hit founder, CEO and producer Bang Si-hyuk taking the lead, introducing the corporate’s plans for the second half of 2019 and the quick future.
Bang mentioned the corporate’s current advances, addressing how workers had grown fourfold and singling out the corporate’s new CBO Min Hee-jin for example of the corporate’s improvement, saying that Min’s artistic path will spearhead a brand new feminine group with music path by Bang. He additionally emphasised how Massive Hit has established Belift Lab, a three way partnership with CJ ENM, and introduced on Supply Music, house to widespread Ok-pop lady group GFRIEND, as a subsidiary; the corporate additionally acquired Very good music gaming firm earlier this week.
He additionally defined that income within the first half of 2019 for Massive Hit has already practically overtaken the corporate’s whole 2018 revenues at over 200 billion gained, round $166 million USD. “Working earnings exceeded 39.1 (~$32.5 million) billion gained, already virtually two-thirds of final yr’s 64.1 billion gained (~$53.3 million) [operating profits],” mentioned Bang.
Following these discussions, Bang addressed Massive Hit’s aim to be a pacesetter of innovation within the music trade, and in contrast the Ok-pop world to that of Korean gaming, nodding to Massive Hit’s collaborations with Netmarble and that firm’s success as a roadmap to improvement. Netmarble, which is headed by Bang’s cousin Bang Jun-hyuk, turned a major shareholder of Massive Hit Leisure in 2018. Bang Si-hyuk expressed that the continued collaboration is vital attributable to how sizable each Ok-gaming and Ok-pop are, with the previous being much more profitable than the latter. He said that it his aim to have Massive Hit push the music trade by way of a number of developmental levels comparable to those who the Korean gaming trade has gone by way of to result in a paradigm shift. Massive Hit will consider two core focal factors to attain this shift and eventual development, firstly by innovating buyer expertise and secondly by increasing the worth chain to construct a buyer ecosystem based mostly on these foundations, with the last word aim to create new enterprise alternatives.
Lenzo Yoon (Yoon Seok-jun), co-CEO of Massive Hit Leisure and the pinnacle of Massive Hit’s Enterprise group, then mentioned these enterprise ventures, marking his first public look since getting into the roles.
Yoon first addressed how the corporate has begun to and can proceed to implement a sequence of modifications to make the concertgoing and merchandise-buying expertise simpler, comparable to by facilitating merchandise gross sales on-line, implementing utilizing lottery-style ticketing methods, and creating relaxation areas and play zones for followers at live shows to revitalize followers and maintain them engaged. Massive Hit will even implement a sequence of modifications that may allow audiences to make use of AI to interact with reside occasions in a wide range of other ways even when they aren’t bodily in attendance, and can open extra pop-up shops in affiliation with live shows; Yoon cited a examine that decided BTS’ most up-to-date exhibits injected an estimated 481.3 billion gained (~$400 million) into the Korean financial system attributable to fan expenditures at live shows in Seoul and Busan.
Yoon then launched Steve Search engine marketing, the CEO of Massive Hit subsidiary BeNX, to debate WeVerse, a fan-oriented platform developed to assist facilitate fan experiences, communication between followers and artists, and a media platform that includes each free and paid content material geared toward clients of Massive Hit and its subsidiaries. It’s paired with Weply, a commerce platform by way of which Massive Hit’s viewers can buy items and tickets to occasions by way of a singular service accessible to followers all through the globe, with desire and distinctive alternatives accessible solely to app customers. Followers will be capable to use Weverse and Weply as identification to buy occasion tickets, companies and merchandise, and likewise make the most of companies associated to attending Massive Hit occasions, comparable to lodging and transportation.
Bang ended the 2019 Massive Hit Company Briefing with the Group occasion by expressing how the corporate is emphasizing mental property branding and storytelling as parts in enhancing the corporate’s worth chain and buyer expertise. The Massive Hit founder mentioned character manufacturers and different ventures, such because the BTS World recreation and Mattel toy collaboration as parts of this, and likewise mentioned that the corporate would proceed to make a wide range of merchandise starting from primary items to luxurious objects accessible to audiences in order that they gained’t have to show to non-official choices.
The Massive Hit mastermind ended the occasion with the announcement of furthering the inventive universes of the corporate’s expertise — “BU,” or the BTS Universe, and “TU” for TXT — by way of rising their storytelling efforts, together with a Korean drama sequence that’s slated to be launched within the first half of 2020 that might be set within the BU and inform the story of the beginning of the connection of the seven characters featured in it based mostly on the members of BTS; the story has beforehand been shared in bits and items through the years by way of content material like music movies, social media posts, webtoons and books. Massive Hit and Netmarble will even launch a brand new recreation based mostly on the BU storyline and BTS’ artistry.
Watch the dramatic teaser video for the brand new, unnamed Netmarble-Massive Hit BU-based recreation beneath, which references BTS’ most up-to-date album sequence, Map of the Soul.