In 2017, it was estimated that around 800,000 tourists visit South Korea and 7 per cent expressed their interest to visit the country, owing to the love for BTS. This is added to the initial $33.3 million box earnings at the SoFi Stadium in Los Angeles back in December 2021.īTS is also responsible for the influx of tourists in the country. Just this year, the group earned a total of 40 billion won ($32.1 million) with their four-day concert for ‘Permission to Dance on Stage’ in Las Vegas. According to Forbes, a single BTS concert could generate $500 million or more. In 2021 itself, the label minted $1.3 trillion. BTS was still the feverish silver lining during the pandemic that almost destroyed the live-concert industry and brought a 58 per cent increase in HYBE’s revenue. By 2020, the group was contributing $3.5 billion annually to the nation’s economy, according to the Hyundai Research Institute. Apart from this, they had accounted for nearly one-third of all K-Pop related sales and streaming in the United States, resulting in 3.6 million album equivalent units, 2.56 billion audio streams, 1.3 million album sales, and 3.1 million digital track sales. 1 songs Hot 100, a feat that hadn’t been achieved since The Beatles. They were the first group to have six No. Quickly, the power of K-Pop began to spread through Asia, and then BTS had the most glowing success as they burst forth on international shores and broke into mainstream America.įor years, BTS has raised more than $3.6 billion every year for the South Korean economy. The soft power of Korean entertainment was highlighted as funds were injected into the Korean film council to propagate pop culture. In the midst of financial shambles it was understood that the entertainment industry could serve as an economic engine. The Hallyu wave, which originated in the 90’s, was born out of the Asian financial crisis that hit South Korea in 1997. But then, like they say, they’ve got ‘ARMY right behind them when they say so,’ as their song Butter quotes. That’s a debilitating burden for seven youngsters to shoulder. And now, that they choose to go ahead with the unavoidable enlistment, they also have to wonder not just about the future of the company HYBE, but South Korea itself. If they didn’t follow military service and pursued their careers yet with alternate service in the background as promised, that would have led to more complications and further brewing resentment against them. It’s almost a damned-if-you-damned-if-you-don’t scenario for the young septet, who revolutionised K-Pop and revitalised the economy. Come to think of it, the boys have been under enormous and cruel pressure, for literally just following their passion.
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