Big Hit’s global CEO said that BTS is unique, and so is their fandom ARMY.
Yoon Seok Jun is the global CEO of Big Hit Entertainment, who oversees the domestic and overseas industries of the company. Recently, Yoon Seok Jun participated in an online lecture on the “Entertainment, Media, and Sports Business” at Harvard Business School.
This lecture was a part of Professor Anita Elberse’s class, who is regarded as a top authority in industrial research. Professor Elberse is also known for writing the case report titled “Big Hit Entertainment and Blockbuster Band BTS: K-Pop Goes Global.”
At the invitation of Professor Elberse, CEO Yoon held a speech twice, each with about 160 students. He explained the success factors and business strategies based on the experience and expertise of Big Hit.
During the lecture, Prof Elberse and the students discussed presented their opinions and research on why Big Hit and BTS can be successful.
Some factors were given by the students such as: The contract is suitable for the artist, respect for the artist’s point of view and creativity, strong investment in manpower and some other expenses, ability to balance the relationship between the company and artists, applying advanced technology, etc.
In addition, the students also researched about BTS’s fandom culture – a factor they believe has helped the group achieve today’s success. The students said: “No artist or athlete has a cycle-creating fandom like ARMY: They consume BTS products but also creatively spread it to those who don’t know the group.”
CEO Yoon thanked professors and students for taking the time to learn and have such insightful analysis. After that, he explained more about the factors that help Big Hit and BTS succeed. Notably, CEO Yoon also affirmed: “It is impossible to recreate the sincerity and identity like BTS, there will be no second BTS. Because their authenticity and identity cannot be duplicated.”
When talking about how to maintain the success of Big Hit, CEO Yoon also shared: “Big Hit is focusing more on researching the communication method that the current generation needs. We created a global fan community platform, ‘Weverse,’ and presented a way for artists and fans to communicate more closely in a new way.”
CEO Yoon also expressed confidence in the future of Big Hit: “Ten years from now, we plan to continue to show content and services that only we can provide.”
CEO Yoon is known for leading the growth of Big Hit Entertainment and BTS for the past 10 years. Over the years, he has led the branding of original content, expanded artists in direct participation-type business using IP (Intellectual Property Rights), etc. CEO Yoon also shared that he is currently focusing on the synchronous development of Big Hit’s business activities in Korea, Japan, and the US.