Big Hit Entertainment, the management company of BTS and is valued at more than 2 trillion won in the financial industry, said they have no plans to go public on the stock market for the time being. “We have no plans for Big Hit to go public at the moment,” a representative from Big Hit said at a global press conference for the release of BTS’s new album “MAP OF THE SOUL: PERSONA” at Dongdaemun Design Plaza in Seoul on April 17.
Last year, Big Hit achieved 214.2 billion won in sales and 50.2 billion won in net profit. Business profit rose up to 64.1 billion won, up 97.1% compared to the previous year. This number is more than last year’s business profits of the so-called “Big 3,” SM (47.4 billion won), JYP (28.7 billion won) and YG (9.4 billion won).
Still, many insiders in the industry agree that Big Hit doesn’t need listing. While most companies raise their operating funds through the listing, Big Hit has a good flow of funds as its internal funds are far higher than those of other entertainment companies. In addition, internal data will be public if they are listed, and the board of directors will have to listen to shareholders’ opinions.
“If Big Hit went public on the stock market, BTS will have a significant impact on creative activities as stock prices fluctuate according to their every move,” a source from K-pop industry said. “It’s known that the company and BTS members have put off their plans for listing for the time being to keep their customized projects free from these external factors.”
Meanwhile, BTS was in the list of “100 Most Influential People in the World” by Time magazine on April 17. BTS, which is included in the 17 artists category, along with pop star Ariana Grande, Rami Malek – the lead actor of “Bohemian Rhapsody” and actor Dwyane Johnson. Last year, they ranked No. 1 in online voting but was eliminated in the final selection process.
Sources: Nate
