Massive Hit Leisure — Residence to BTS — Unveils Income, Upcoming Ventures & New Signings

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Massive Hit Leisure, house to the likes of BTS and TOMORROW X TOGETHER (TXT), held a company briefing Tuesady (Feb. 4) at Seoul’s Dongdaemun Design Plaza to current an outline of the final 12 months and its plans for 2020, together with its “successful components.”

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The occasion featured shows from Massive Hit’s co-CEO’s Bang Si-Hyuk and Lenzo Yoon in addition to representatives of Supply Music, which Massive Hit acquired final 12 months. In the course of the session, the corporate frolicked sharing its enterprise mannequin, and shared a number of essential updates, together with the anticipated launch of a boy band, a deliberate lady group and an upcoming world tour for TXT.

In the course of the briefing, Massive Hit introduced that income doubled 2018  to 587.9 billion KRW (494.6 million) in 2019, and reached annual working income of 97.5 billion KRW (82 million).

Based on Bang, final 12 months noticed the corporate start to alter its construction and start to develop to turn into a multi-tiered enterprise and label, buying Supply Music and establishing Belift, a co-venture with CJ ENM. 

The corporate additionally regarded in the direction of diversifying its enterprise ventures, launching new initiatives together with apps like Weply and Weverse, and increasing its live performance and touring experiences. Dwell streaming and cinematic occasions had been main components in enabling 5.5 million folks to witness components of BTS’ excursions, Massive Hit defined, past the two.06 million who bodily attended BTS’ Love Your self and Communicate Your self world excursions. Pop-up shops accompanying the excursions and experiential areas, such because the Home of BTS pop-up, additionally supported the corporate’s progress, and Massive Hit will proceed to develop on the concertgoing expertise. 

Lenzo Yoon used the occasion to debate how the corporate is exploring the “Massive Hit Profitable System,” which is alleged to additional develop the success of artists’ below the corporate’s labels by using enterprise modularization to boost the client expertise and worth chain growth. This consists of shifting past Massive Hit artists, with Yoon asserting that boy band Seventeen, which is managed by Pledis Leisure can be “the primary of many” to enter Weverse, an app via which followers and artists can work together, in addition to via which followers can have interaction with quite a lot of purchasable content material.

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Courtesy of Massive Hit Leisure

Based on a press launch from Massive Hit, Yoon harassed that “‘followers’ are the centerpiece of the ‘Massive Hit Profitable System,’ that they’re on the heart of the music trade and are certainly the core worth of the Massive Hit enterprise mannequin.” 

A number of different main bulletins concerning upcoming and rising acts had been additionally shared through the company briefing. 

Younger Jae Shin, Vice President of Massive Hit Labels, introduced plans to launch a brand new boy band in 2022, and shared plans for an upcoming world tour that includes TXT. One other boy band is deliberate to debut throughout the 12 months below Belift, a male act that includes multinational members that may assist carry concerning the model’s intention to carry “Ok-pop into the mainstream.” Based on Yoon Hyuk Choi, Belift vp, he hopes to introduce Ok-pop’s incubation system for artists into the worldwide market.

So Sung Jin, president of Supply Music, mentioned a previously-announced grl group had been fashioned, and is predicted to be introduced to the world in 2021; the corporate goals to turn into the main lady group label on the earth, and already homes GFriend.

There are also plans for the discharge of various BTS-oriented inventive contents, together with a “Mic Drop” music video that includes BTS characters equivalent to those featured in a cartoonish remake of “IDOL,” a second The Notes e-book, and a a sequence of “graphic lyrics” image books primarily based on The Most Stunning Second of Life that may characteristic 5 of BTS’ songs primarily based on the act’s songs and its fictive narrative, often called the BU or Bangtan Universe.

The corporate additionally shared an replace on the BTS- themed tv drama created in collaboration with Chorokbaem Media and written by Kim Su-jin, which is able to characteristic “a coming-of-age story about how the seven boys within the Bangtan Universe met and embarged collectively on their journey of therapeutic.” 

Further content material, equivalent to “Be taught Korean with BTS” and a recreation by Very good Corp.are additionally within the works.

The occasion additionally featured the information that design workforce STUFISH will work with Massive Hit on BTS’ upcoming world tour, which may also characteristic festival-like zones — beforehand restricted to Seoul stops — to assist improve the environment. 

“Massive Hit will make sure that followers, artists and the corporate which represent the X, Y, Z axis of the music trade can develop pretty collectively,” Bang mentioned through the closing of the occasion. “Massive Hit will continuously put efforts into making Massive Hit’s mannequin and methodology the trade’s customary.”

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