Bang Mo, 48, owns 43% of a music agency headquartered in Seoul, while Netmarble, a game company, owns 25% after investing $172 million two years ago. Netmarble founder Bang Joon-hyuk is a relative of Big Hit Bang, and is already one of the best in Korea. Bang, also known as "Hitman", founded Big Hit in 2005 after a successful career as a music producer at JYP Entertainment. In an interview with Bloomberg in 2017, Bang said, "At first, the business was quiet, so artists stopped by the office to play tennis on the Nintendo Wii." In 2009, almost before bankruptcy, Big Hit's first breakthrough took place, and at this time, Big Hit's'Without Heart' hit a domestic hit. BTS officially debuted with the single album '2 Cool 4 Skool' in 2013, and received global attention by winning the Top Social Artist Award at the 2017 Billboard Music Awards. When'Dynamite' debuted in August, it rose to No. 1 on the Billboard Hot 100 Chart, and was the first in Asia to be ranked No. 1 in the US after Sakamoto Kyu's'Sukiyaki' in 1963. The band's growth is often attributed to effective use of social media and the obsessive dedication of fans to the band known as Army. It was revealed that BTS recorded more than 97% of Big Hit's sales last year and nearly 88% in the first half of 2020.
In a TV show in Korea in 2018, Bang Jae-hyun said, "I am curious and curious about how BTS became so successful." He said, "When I first planned BTS, I couldn't imagine the future as it is now. The goal at the time was not to make them top artists." The coronavirus pandemic is hitting a wide range of music industries, with live concerts and performances canceled or postponed due to physical dancing restrictions to prevent the spread of the virus. However, BTS showed songs and performances that top the charts in shows such as the MTV Video Music Awards. The band has successfully raised tens of millions of dollars by hosting live streaming concerts with its own fan communication platform that mobilized 756,000 audiences from around the world. Big Hit has also built a content-based business model, such as the group appearing in the Netmarble game and Samsung launching the Galaxy S20 smartphone series BTS Edition. According to the IPO application, Big Hit's sales fell by 8 percent in the six months until June to 299.4 billion won, and concerts accounted for less than 1% of sales compared to a third of last year.
However, the pandemic still remains a concern. "If the health crisis worsens or prolongs, it can have a negative impact on the company's business plans and profits," Big Hit warned in a prospect. The organization's excessive dependence on BTS could also be a problem, especially since its members still have to compulsory drafts into the ROK military-all male citizens of Korea between the ages of 18 and 28 are drafted for about two years. Because you have to. Jin, the oldest member of BTS, will be able to postpone state affairs until the end of 2021, and the bill proposed this month will provide a foothold for pop artists to postpone state affairs until the age of 30. First, Big Hit is trying to expand its portfolio by signing contracts with other agencies and nurturing new talents. Earlier this year, it acquired Pledis Entertainment, a K-pop group management company, and is aiming to launch a new group through a joint venture with CJ ENM. The agency revealed that a new girl group will debut next year. "When the virus started, I thought it was a crisis because I had to cancel almost everything that was planned, but it is no longer considered a crisis."