Big Hit Entertainment, the Korean music label which represents pop sensation BTS, recorded bumper profits in 2019. The Seoul-based company saw revenue nearly double to $508 million, and operating profit grow by 28% to $85.4 million.
The diluted profit margin was explained by moves to diversify the company away from its reliance on BTS, through investing in other acts, and development of new business lines. “Big Hit pushed for optimizing its corporate structure in 2019 by transitioning into a multi-label system,” said an unnamed corporate spokesman.
This includes a pipeline of new trainees. The spokesman reported that: “BTS is making unprecedented achievements as Korean artists, and both Tomorrow X Together and girl group Gfriend are
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