Big Hit Entertainment, the talent agency behind hugely popular Korean pop boy band BTS, received preliminary approval this month to list on South Korea's stock market.
Big Hit Entertainment, the talent agency behind the hugely popular Korean pop boy band, received preliminary approval this month to list on the country's stock market. The company is run by CEO Bang Si-Hyuk, a longtime music producer who is credited with creating BTS and setting it on the road to stardom in 2013. Bang is the major shareholder of Big Hit, with about 43% of the company's stock, according to a stock exchange filing.
Big bucks from BTSLast year, the company said it brought in about 587.2 billion won in revenue, and 98.7 billion won in operating profit. While BTS is its biggest act, it's not the only earnings driver. Big Hit also manages singer Lee Hyun and Tomorrow x Together, another South Korean boy band.The agency reportedly has grand ambitions for its initial public offering. Earlier this year, the Financial Times reported that Big Hit was aiming to raise 1.
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