On August 13, Big Hit Entertainment held a business briefing on YouTube and shared about corporate’s plans and Financial Performances of this year.
The founder of the company, Bang Si Hyuk started with their financial performances for this year. The agency recorded 294 billion won (approximately $ 248.3 million) in consolidated revenue and 49.7 billion won (approximately $42 million) in operating profit in the first half of 2020, according to an estimated calculations. This has proved that Big Hit has increased 46.9% in their revenue and is made a 27.1% growth in operating profit.
He also said the company faced difficulties due to the COVID-19 pandemic, such as rescheduling BTS’ world tour but they were able to overcome the situation due to BTS’ album, music sales and online concerts. Additionally, Pledis Entertainment. Also, Pledis Entertainment joining to Big Hit Labels helped them a lot. Now groups under Big Hit Labels include BTS, TXT, GFRIEND, NU’EST, and SEVENTEEN.
Moreover, Big Hit Entertainment announced that BTS will be holding a concert; on and offline titled ‘BTS Map of the Soul ON:E’ in October. The chairman also asked fans to look forward to BTS’s upcoming English-language digital single, ‘Dynamite’ which will drop some time in the fourth quarter of 2020.