Big Hit Entertainment has unveiled their plans for the rest of 2020 and 2021!
On August 13, Big Hit Entertainment held a corporate briefing that lasted for nearly an hour, in the briefing, the label CEO talked about many things including BTS pending comeback, their revenue, and more. One of the most interesting points was about their future plans for their upcoming groups.
Chairman Bang Si Hyuk talked in more details about their upcoming girl group with Source Music that is set to debut in 2021, he revealed that the team was formed through “Plus Global Auditions” that were held last year in 16 cities around the world.
While Bang Si Hyuk stressed that not much could be revealed about the group, he stated that they will be a girl group ‘from diverse backgrounds and languages.’ He will help with producing music for the girl group and will be assisted by CBO Min Hee Jin and Source Music ‘own color and girl group know-how.’
They will also debut another boy group in 2022. Not to mention, the final winners of “I-LAND” who will debut this year.
In the corporate briefing, Chairman Bang Si Hyuk revealed a surprising fact, the five groups under the huge label account for 40% of all album sales within the top 100 of Gaon’s albums chart.
You can check out the full corporate briefing (with English subtitles below)
Are you excited for Big Hit’s first girl group?
My Personal Thoughts
On average, it costs around 3-10 million to debut a Kpop group, Big Hit will be shedding a lot of money this year and for the next couple of years, the next two years will determine their future, this is why they’ve been aggressively expanding.
Big Hit is no longer the underdog; I was surprised to learn that their groups account for 40% of the album sales on Gaon Chart. Acquiring other labels was an intelligent idea and it will come in handy when BTS members begin enlisting next year.
With such marketing and business tactics, they have a lot on their plate; I am still wondering how they’ll be able to properly manage all of these groups, the upcoming boy group and girl group. So far, “I-LAND” ratings are basically in the 0% range, it’ll be interesting to see how they handle the formation of this group with the lack of interest from the Korean GP.
I’ve never witnessed a label growing so fast in my life as a Kpop fan, it was always a game between the big three, I wonder whether their tactics will work out or not. Knowing a bit about business myself, there are a lot of risks they’re taking with their moves, I am curious to see how the rest unfolds.