How much money does BTS bring to Korea?
“BTS Inc.” has become a global economic force that turns Korea’s GDP needle.”
In 1964, The Beatles’ “She loves you” topped the U.S. Billboard charts. Since then, “I want to hold your hand” has topped the list. A rookie band from the U.K. wrote the first record in Billboard’s history to baton touch the top spot with his song.
A similar thing happened at Billboard this year, half a century later. “Butter,” released by BTS (BTS) in May, has maintained its top 10 position on the main single chart “Hot 100” for the 12th week (17th). Only the first place went up nine times, during which another new song, “Permission to Dance,” took the first place baton.토토사이트
Hallyu, which was only an “alley leader” in Asia such as Japan and Southeast Asia, has emerged as a global mainstream culture starting with BTS. Along with K-pop, various genres of K-series such as dramas, beauty, and food are being consumed under the name of “New Hallyu.” “Digital Hallyu” such as animations and webtoons has also dominated the market. In the past, if you have consumed the Korean Wave out of curiosity, there is a difference that it is deeply located at the bottom of your life and is widely consumed in your daily life. This means that the Korean Wave is evolving to a new level.
According to related industries on the 20th, K-pop fever, including BTS, has begun to be analyzed more carefully abroad than in Korea. Major U.S. radio broadcaster NPR recently looked at the cultural ripple and economic effects of BTS. It is considered unexpected in that it has maintained a critical view of K-pop.
Analysts say that this is because the influence of BTS and K-pop, which has continued in the global music market for many years, can no longer be regarded as strange. NPR called BTS “a corporation” (BTS, Inc.) and described it as “a huge driver of the global economy that generates billions of dollars in revenue, including jobs.” Citing statistics from the Hyundai Economic Research Institute, he stressed that the money that BTS brings to Korea is $5 billion a year, which is 0.5% of the U.S. nominal GDP.
Cha Woo-jin, a music critic, said, “A year or two ago, the way foreign media such as the U.S. handled K-pop was somewhat obvious, but we have been analyzing it in depth recently.”