BTS is one of the dominating musical groups in the current music industry. Originally a hip-hop oriented band, the South Korean band later went on pursuing the genres like K-pop, EDM, and R&B that took them to the top of the music list in recent years.
BTS, aka Bangtan Sonyeondan, also known as Bangtan Boys, is a seven-member group formed in 2010. They debuted in 2013 under 'Big Hit Entertainment,' and they have been ruling the international music world since then. The bandmembers include Jin, Suga, J-Hope, RM, Jimin, V, and Jungkook.
It has been a year since BTS' Love Yourself: Speak Yourself tour started selling out the stadiums. The tour, which featured each night of the 20-date trek, grossed around $116 million and a total of nearly a million ticket buyers around the world. The success of K-pop band BTS also came in the form of the song Dionysus.
With the start of the tour, the rapper RM, whose full name is Kim Nam-Joon led the way while group mates Jin (Kim Seok-jin), J-Hope (Jung Ho-Seok), Jimin (Park Ji-Min), Jung Kook (Jeon Jung-kook), V (Kim Tae-Hyung), and SUGA (Min Yoon-gi) showcased their choreograph and flanked him on stage.
BTS Is Domination The Western Music Industry
What characterizes BTS is their enthusiastic genuineness, which is transmitted through their verses, press meetings, and individual video blogs. They have a longshot story, where they figured out how to outperform the chances to become one of the most elevated earning groups of all times.
The Western media and the world have had the option to ogle at the sheer size of BTS's strength. They have presented on the fronts of lustrous magazines with captions like 'How BTS Is Taking Over the World,' 'Music's Billion Dollar Boy Band Takes the Next Step,' and 'The K-Pop Megastars Get Candid About Representing a New Generation.'
BTS is acquiring star treatment along with decent earnings and sales charts. As of 2020, BTS has a net worth of $100 million, seventeen.com reports. However, due to distrust and protection to their status as the world's greatest pop stars actually persevere on the grounds of their 'kid band' mark, the (unjust) supposition that their fan base is fuelled exclusively by high school commitment, and xenophobia from an industry, customarily overwhelmed by white Western stars.
BTS's way to superstardom was partially cleared by South Korea's flood of social fares toward the West - from music to TV dramatizations leading to refined skin health management schedules. Before BTS, a progression of top K-pop groups such as Big Bang, Girls' Generation, EXO made their US debuts. However, their reputation wasn't as grand as BTS. Therefore, it led the boy's prosperity to bloom significantly more phenomenal and startling.
BTS members Jin, Suga, J-Hope, RM, Jimin, V, and Jungkook (©: Instagram/BTS)
In 2019, BTS allegedly brought in $4.65 billion for the South Korean economy through physical album deals, concert tickets, and branded commodities. The band is worth 0.3 percent of the country's net residential product. It is anticipated to contribute $48 billion to South Korea by 2023, concurring to a report from the Hyundai Research Institute.
These stunning numbers highlight how BTS's impact may be a 21st-century visit de drive, something few Western pop specialists are competent in accomplishing nowadays.
At its heart, music commerce is driven by fan development, concert shows, collection bargains, and veteran item to fortify an emerging skilled artisan onto melodic graphs, regardless of whether that's the 'US's Billboard Hot 100' or South Korea's 'Gaon Music Chart.'
To perceive the scale of BTS' success among other K-pop groups and Western specialists, you have got to dive into the Korean entertainment industry and understand how it's an entirely diverse monster from its American counterpart, down to how its greatest stars are developed and promoted.
Whereas record names, artist administration companies, and ability agencies work as isolated entities in America, Korean entertainment companies are an arrangement of all three.
'The top K-pop music companies are crossbreed, profoundly integrated, full-stack 'cultural technology' endeavors,' said Bernie Cho, president of DFSB Kollective, a Seoul-based organization specializing in conveying Korean music. Meaning they have a top-down approach to overseeing imaginative tries and, in a few cases, producing and forming an artisan or a band.
One of the most contrasts between South Korea and the West's music businesses comes down to the artists themselves' demeanor. Tamar Herman, a K-pop columnist for Billboard, says that South Korean artists don’t confront a stigma around the concept of music as a career as numerous Western groups do. 'In the West in general, we tend to vilify the commodification of the music industry; and in South Korea, that’s not truly a concern,' she says.
Herman added:
“There’s no concern that a K-pop group is as well created, that it’s too commercialized. Typically their work is their career, and there's creativity connected to it. Because of that, it makes things simpler: they can do a part of advertisements, they can do a parcel of promoting and a parcel of concerts where marketing is important.”
South Korean fans are well known for their eagerness to spend cash on music, something the K-pop industry capitalizes on by offering albums in different versions to offer to the fans' collector and completist instinct. But fan also offers assistance to promote their top choice K-pop groups according to Jeon Duck Jung, vice chairman of the Korea Entertainment Producer’s Association.