Huge Hit Leisure, residence 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 longer term.
In a video shared on YouTube, the session started with Huge Hit founder, CEO and producer Bang Si-hyuk taking the lead, introducing the corporate’s plans for the second half of 2019 and the speedy future.
Bang mentioned the corporate’s latest advances, addressing how employees 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 route will spearhead a brand new feminine group with music route by Bang. He additionally emphasised how Huge Hit has established Belift Lab, a three way partnership with CJ ENM, and introduced on Supply Music, residence to fashionable Okay-pop woman 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 Huge Hit has already practically overtaken the corporate’s whole 2018 revenues at over 200 billion received, round $166 million USD. “Working income exceeded 39.1 (~$32.5 million) billion received, already nearly two-thirds of final 12 months’s 64.1 billion received (~$53.3 million) [operating profits],” mentioned Bang.
Following these discussions, Bang addressed Huge Hit’s purpose to be a pacesetter of innovation within the music business, and in contrast the Okay-pop world to that of Korean gaming, nodding to Huge 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, grew to become a main shareholder of Huge Hit Leisure in 2018. Bang Si-hyuk expressed that the continued collaboration is vital attributable to how sizable each Okay-gaming and Okay-pop are, with the previous being much more profitable than the latter. He said that it his purpose to have Huge Hit push the music business by a number of developmental levels related to those who the Korean gaming business has gone by to result in a paradigm shift. Huge Hit will think about two core focal factors to realize this shift and eventual development, firstly by innovating buyer expertise and secondly by increasing the worth chain to construct a buyer ecosystem primarily based on these foundations, with the final word purpose to create new enterprise alternatives.
Lenzo Yoon (Yoon Seok-jun), co-CEO of Huge Hit Leisure and the pinnacle of Huge Hit’s Enterprise group, then mentioned these enterprise ventures, marking his first public look since moving into the roles.
Yoon first addressed how the corporate has begun to and can proceed to implement a collection 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 concert events to revitalize followers and preserve them engaged. Huge Hit may also implement a collection of modifications that may allow audiences to make use of AI to have interaction with reside occasions in quite a lot of alternative ways even when they aren’t bodily in attendance, and can open extra pop-up shops in affiliation with concert events; Yoon cited a examine that decided BTS’ most up-to-date exhibits injected an estimated 481.3 billion received (~$400 million) into the Korean financial system attributable to fan expenditures at concert events in Seoul and Busan.
Yoon then launched Steve Search engine optimisation, the CEO of Huge 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 aimed toward clients of Huge Hit and its subsidiaries. It’s paired with Weply, a commerce platform by which Huge Hit’s viewers should buy items and tickets to occasions by a singular service obtainable to followers all through the globe, with desire and distinctive alternatives obtainable completely to app customers. Followers will be capable to use Weverse and Weply as identification to buy occasion tickets, providers and merchandise, and likewise make the most of providers associated to attending Huge Hit occasions, comparable to lodging and transportation.
Bang ended the 2019 Huge Hit Company Briefing with the Group occasion by expressing how the corporate is emphasizing mental property branding and storytelling as components in enhancing the corporate’s worth chain and buyer expertise. The Huge Hit founder mentioned character manufacturers and different ventures, such because the BTS World sport and Mattel toy collaboration as components of this, and likewise mentioned that the corporate would proceed to make quite a lot of merchandise starting from primary items to luxurious objects obtainable to audiences in order that they received’t have to show to non-official choices.
The Huge Hit mastermind ended the occasion with the announcement of furthering the creative universes of the corporate’s expertise — “BU,” or the BTS Universe, and “TU” for TXT — by rising their storytelling efforts, together with a Korean drama collection that’s slated to be launched within the first half of 2020 that can be set within the BU and inform the story of the beginning of the connection of the seven characters featured in it primarily based on the members of BTS; the story has beforehand been shared in bits and items over time by content material like music movies, social media posts, webtoons and books. Huge Hit and Netmarble may also launch a brand new sport primarily based on the BU storyline and BTS’ artistry.
Watch the dramatic teaser video for the brand new, unnamed Netmarble-Huge Hit BU-based sport beneath, which references BTS’ most up-to-date album collection, Map of the Soul.