ANOTHER BIG YEAR FOR BIG HIT
Revenue at BTS’s label, Big Hit Entertainment, grew 36% to more than $675m in 2020, double what the company generated in 2018. Operating profit was $121m, representing a 17.9% margin.
Recorded music was responsible for 40% of revenue—$272m; sales were up nearly 200% over 2019 figures. Advertising was up 133%. Merchandise & Licensing saw a 53% spike.
The company also announced that it saw its best quarter ever in 2020; fourth-quarter numbers were 312.3b won ($281m) in sales and 52.5b won ($47m) in operating profit.
The increases came despite Bit Hit's concerts division—formerly its biggest cash generator—having earned a mere $2.9m as COVID-19 ravaged the live segment.
"Even with COVID-19, we were able to post our best-ever results thanks to our solid business structure," read a statement from the company. "Alongside the continued growth of artists on Big Hit labels, we will keep expanding the scope of our business through mechanisms like mergers and acquisitions."
CALL MY AGENT:
JOHN MARX His first concert was Buffalo Springfield at the Indio Date Fair. (9/17a)
 HITS' FIRST LIVE ISSUE TAKES THE STAGE THIS FALLWe're manning the merch table. (9/13a)
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ALL THE WAY LIVE
The players, the tours, the enormous beers.
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