Big Hit profits and sales surge in Q3

Big Hit profits and sales surge in Q3

Big Hit Entertainment, home to BTS and other K-Pop superstars, has unveiled some impressive figures in its first quarterly figures since its IPO.

The Korean powerhouse, run by chairman & CEO Bang Si-Hyuk, posted sales of KRW 190 billion (£129.3 million), up 54% year-on-year, operating profit of KRW 40.1 bn (£27.3m)  (+73%) and net profit of KRW 27.2 bn (£18.5m) (+92%). All three metrics are also up notably for the year-to-date.

“Album sales have remained steady,” said a Big Hit statement. “Also, the stable increase in official merchandise sales and the acquisition of Pledis Entertainment have contributed to the strong performance in Q3.”

BTS, who are major shareholders in the company post-IPO, have continued their record-breaking success this year, enjoying their first major hit entirely in the English language with Dynamite, as featured in this week’s Hitmakers in Music Week. The song set a new record for YouTube views on its first day, and the band also attracted a phenomenal 756,000 viewers to their paid livestream.

* See the new edition of Music Week, available now, for the Hitmakers article on BTS’s Dynamite. To make sure you can access Music Week wherever you are, sign up to our digital edition here.

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