Big Hit Entertainment has outlined its plans for new groups, confirmed its yearly profit and announced a new artist for WeVerse in their 2020 corporate briefing, among many other things.
With BTS' global success skyrocketing and TXT's successful 2019 debut, Big Hit Entertainment discussed upcoming plans for both groups, as well as what's forthcoming for the company and its associated brands.
Here's a quick run-down of what was announced during the briefing.
Big Hit Entertainment CEO Bang Si Hyuk announced that the company brought in ₩587.9 billion (AU$733.06 million) revenue, nearly double 2018's revenue. Their total profit was ₩97.5 billion (AU$121.57 million).
- Big Hit vice-representative Shin Young Jae announced that the company plans to debut a new boy group in 2022. Big Hit Entertainment is currently home to boy groups BTS and TXT, as well as HOMME member Lee Hyun.
- For those who remember, Big Hit Entertainment acquired Source Music in 2019, and today Source Music's CEO Min Hee Jin (also Big Hit Entertainment CBO), announced that a Source/Big Hit girl group is in the works to debut in 2021. Source Music is currently home to GFRIEND.
- Big Hit Entertainment and CJ ENM joint venture Belift will work together to debut a new multicultural boy group this year.
- Bang Si Hyuk announced a new project for international fans called Learn Korean with BTS, which will consist of Korean educational content featuring BTS, made for fans who have difficulty enjoying BTS content due to language barriers.
- There are also plans for a drama set in the Bangtan Universe, currently been worked on with production company Chorokbaem Media, known for their work on My Mister, W, Memories of the Alhambra and Oh My Ghost. It is being written by Kim Su Jin (Dazzling) and will be a coming-of-age story about seven boys meeting and embarking on a journey of healing together.
- There will be a sequel to the first Notes book with HYYH The Notes 2 as well as a graphic lyric book series based on five The Most Beautiful Moment in Life songs.
- New character items and a game using the BTS characters are also being prepared
- The briefing also discussed the success of BTS' new ventures including the BTS POP-UP: HOUSE OF BTS, which drew a total of 400,000 visitors across three locations (Seoul, Japan and Mexico).
- CEO Yoon also stated that the company plans to expand the 'Play Zone' concept that exists at BTS concerts in Korea to other parts of the world where the group will perform.There are also plans to expand the number of cities pop-up stores are created when BTS are on tour, with bespoke content for the locations.
- Another plan is focused on people who go overseas to see BTS, with options for fans to stay in BTS-themed hotels. There was also mention of pop-up stores, exhibitions, and limited-edition drinks at associated vendors. These could also be tied into local travel packages.
Bang Si Hyuk confirmed that TXT will be going on a world tour, though dates are not confirmed as of yet.
Perhaps most surprisingly, it was announced by Big Hit co-CEO Yoon Seok Joon that K-pop boy group SEVENTEEN will be joining the social platform WeVerse. The app focuses on connecting artists to fans closely in individual communities. At the moment only Big Hit and Source Music artists are on WeVerse: BTS, GFRIEND and TXT.
The addition of SEVENTEEN has sparked rumours once again that Big Hit may be considering acquiring Pledis Entertainment. This remains unconfirmed.
You can watch the whole briefing below.
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