Even at the height of Beatlemania, few screaming fans stopped chasing the fab four to phone their brokers. But today's pop-obsessed hordes do things a little differently., when Big Hit Entertainment Co., the agency behind BTS, became tradable in South Korea last week, the concept of "owning" a part of the supergroup became the newest status symbol.
The report quotes BTS fans on social media boasting "I’ll buy a share whenever news media shakes things up and hold them until I die. Media keeps talking about losses, but they know nothing." The Big Hit stock dipped 21 percent on Friday after iton Thursday to $235, double its offering price. The company's valuation stood at $7.6 billion. BTS represents an estimated 90 percent of Big Hit's revenue.
K-Pop is just about the only aspect of the recording industry showing growth, with a 46 percent increase this year, according to an analyst cited by. Overall, combined album sales of Universal Music Group Inc., Sony Corp. and Warner Music Group Corp. dropped 23 percent.