RM, Jin, Suga, J-Hope, Jimin, V, and Jungkook are seven songwriters and actors. With the help of their ARMY, however, they are one of the largest boy bands in the world. Here’s what we know about BTS revenues and their impact on South Korea’s GDP.
BTS is one of the largest boy bands in the world
They started out at a small label and are now one of the biggest boy bands in the world, winning Billboard No. 1 songs. 1 on the Hot 100 Record, as well as Grammy nominees and MTV Video Music Award winners.
They break records with their music videos, earning millions of plays on every YouTube clip. These actors also have a powerful and supportive fan base.
Each member earns millions for the award-winning songs and for playing in a stadium. Thanks to their ARMY, these images generate tourism and revenue for the country as a whole.
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BTS helped increase tourism to South Korea
With pop-up shops, live concerts, and several music video venues across the country, it’s no surprise that some international BTS fans are traveling to South Korea. In fact, thanks to BTS, South Korea has seen a huge increase in tourism as of 2019, according to Businessman.
“It is reported that 800,000 tourists chose South Korea as their travel destination because of BTS,” the article said. reading. “Their popularity has increased the attractiveness of South Korean products, such as clothing, cosmetics, and food. EBay in particular saw an increase in merchandise sales thanks to BTS. EBay Korea reported in April 2019 that sales had risen more than 50% since the previous April. ”
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BTS earns enough money for South Korea and its tourism
They may be a South Korean boy band, but these boys make a lot of money from their ARMY. According to a 2018 company revenue analysis from Statista, BTS accounts for .3% of South Korea ‘s GDP, racking in more than $ 4.5 billion dollars that year.
That puts this K-pop group “in the same league” with companies like Samsung, KIA, and LG. For comparison, Korean Air, which generated revenues of $ 11.65 billion, accounted for 0.7 percent of GDP. Hyundai added about 5% in the same year.
It is largely as a result of this contribution that some BTS members have been temporarily suspended. (The oldest BTS idol, Jin, was originally scheduled to take a break from the group after his 2020 birthday.)
The music video “Dynamite” is now available on YouTube. Music by BTS, including their recently released album, Soul map: 7, available for streaming on Spotify, Apple Music, and most major platforms.