BTS win Billboard Award and make millions from Big Hit IPO
- 4 years ago
방탄소년단, BBMA Social Artist 어워드 수상과 동시에 소속사 주식 "따상"
Today was a big day for the members of BTS, winning recognition at the Billboard Music Awards, but also... making millions of dollars on the stock market debut of their management company.
Our Kim Do-yeon has more.
October 15th will be a day to remember for the members of BTS.
First, they claimed the Billboard Music Award for Top Social Artist for the fourth year in a row, and there they performed their hit song, "Dynamite."
And their day was far from over.
Their management company, Big Hit Entertainment, also went public on the Korean stock market, making the boys around 13 million U.S. dollars each.
The stock opened at double the IPO price, then shot up by the daily limit of 30 percent.
It closed about 4-and-a-half percent lower, but still a profitable day.
The company's chairman, Bang Si-hyuk, had said he would treat the members equally and gave them nearly 70-thousand shares each.
The stock's debut got media attention around the world,... but much of that pointing out just how much the company relies on BTS.
They account for the vast majority of the company's revenue, and it's a concern for investors that the members of the band still need to perform the mandatory military duty required of all able-bodied South Korean men.
The chairman of the company, however, thinks that won't be a hindrance.
"Big Hit Entertainment is not only capable of developing and producing globally leading artists and music, we are more closely in tune with the fandom business than any other company in the world, so we can turn this knowledge into added business value."
The BTS fanbase, known as Army, is the proof that Big Hit does understand the global music market.
Some fans have even said they're going to buy the stock not to make money, but to show support for BTS.
15 years since he started the company, the chairman owns 36.6 percent of it, making him the sixth biggest individual shareholder in South Korea.
Kim Do-yeon, Arirang News
Today was a big day for the members of BTS, winning recognition at the Billboard Music Awards, but also... making millions of dollars on the stock market debut of their management company.
Our Kim Do-yeon has more.
October 15th will be a day to remember for the members of BTS.
First, they claimed the Billboard Music Award for Top Social Artist for the fourth year in a row, and there they performed their hit song, "Dynamite."
And their day was far from over.
Their management company, Big Hit Entertainment, also went public on the Korean stock market, making the boys around 13 million U.S. dollars each.
The stock opened at double the IPO price, then shot up by the daily limit of 30 percent.
It closed about 4-and-a-half percent lower, but still a profitable day.
The company's chairman, Bang Si-hyuk, had said he would treat the members equally and gave them nearly 70-thousand shares each.
The stock's debut got media attention around the world,... but much of that pointing out just how much the company relies on BTS.
They account for the vast majority of the company's revenue, and it's a concern for investors that the members of the band still need to perform the mandatory military duty required of all able-bodied South Korean men.
The chairman of the company, however, thinks that won't be a hindrance.
"Big Hit Entertainment is not only capable of developing and producing globally leading artists and music, we are more closely in tune with the fandom business than any other company in the world, so we can turn this knowledge into added business value."
The BTS fanbase, known as Army, is the proof that Big Hit does understand the global music market.
Some fans have even said they're going to buy the stock not to make money, but to show support for BTS.
15 years since he started the company, the chairman owns 36.6 percent of it, making him the sixth biggest individual shareholder in South Korea.
Kim Do-yeon, Arirang News