On June 14, the South Korean pop sensation BTS dropped a bombshell.
After their nine-year-long journey as the most profitable Ok-Pop band, BTS on Tuesday introduced that the group is occurring ‘hiatus’ to deal with their particular person careers with a line-up of solo initiatives.
The band, which has offered over 32 million albums, is a worldwide phenomenon.
BTS introduced this throughout the BTS’ Festa dinner, the place the septet group detailed plans for solo initiatives and defined to followers that they “want the time to take an prolonged break”.
The group had seven members — RM, Jin, Suga, J-Hope, Jimin, V, and Jungkook.
In the one-hour Festa video, the members mirrored on their profitable journey collectively earlier than discussing plans for his or her solo initiatives.
RM mentioned whereas they’ve completed super feats as a band, “the members nonetheless have to develop and mature as particular person folks and artists.”
The band debuted in 2013 with their single album “2 Cool 4 Skool” and launched its first Korean-language studio album, Dark & Wild, in 2014. The group’s second Korean studio album, Wings, was the first to promote a million copies in South Korea. By 2017, BTS crossed into the international music market, breaking quite a few gross sales data.
In 2018, BTS launched an eight-episode documentary on YouTube Premium based mostly on behind-the-scenes footage from their Wings Tour. They then dropped a film model of their documentary known as Burn the Stage: The Movie in theatres, which reportedly introduced in almost $14 million in ticket gross sales worldwide throughout its opening weekend alone.
BTS, the cash machine
According to Forbes, the group was value $50 million in 2020 and is the forty seventh highest-paid superstar in the world. Some stories declare it is value greater than $100 million now. In 2019, earlier than the Covid-19 pandemic halted their excursions, the Ok-Pop band had grossed $170 million on the street, greater than any American band besides Metallica.
Besides their music, merchandise, and tour earnings, the BTS members had acquired 68,385 shares when Hybe Co, the company that manages the band, entered the inventory market.
According to the Korea Times, BTS earned as much as about $4.5 million for each Korean model they endorsed—and that price soared even increased when it got here to international endorsements.
The Bangtan Boys have served as model ambassadors for Samsonite, Seoul Tourism, Louis Vuitton, Formula E, Puma, FILA, Coway, LG, Hyundai, and Samsung, amongst many others. The band has been so influential that they reportedly result in $3.6 billion to the South Korean economic system.
BTS has additionally launched merchandise with Baskin Robbins, New Era, Sidiz, LeSportsac, Sketchers, Mattel, Casetify, Tamagotchi, VT Cosmetics, and Jamie Wander. Cosmopolitan mentioned their BTS Meal promotion at McDonald’s earned them over $8.5 million.
J-Hope is value $24-26 million, the highest-earning member amongst the seven, adopted by Suga at $23-25 million.
Jin reportedly spent $1.7 million in money on his residence. According to a Business Insider report, j-Hope spent $1.6 million, Jungkook $1.74 million, and Suga $3 million on their residences.
Jin, who has a web value of $20 million, makes extra cash from his producing and writing credit on a few of BTS’ albums along with their music releases and touring. He’s additionally ventured into the meals business by opening a Japanese-style eatery in South Korea along with his brother. The chief of the band, RM, earns a lot of money for his expertise at writing songs.
Meanwhile, shares of Hybe Co plunged by a file after the band’s hiatus announcement.
Hybe sank as a lot as 28 per cent on Wednesday in Seoul, headed for its lowest shut on file since its buying and selling debut in October 2020 and wiping out as a lot as $1.7 billion in market worth.