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Interesting stuff in Big Hit's registration statement today ahead of its IPO in October. BTS members will be granted 68,385 shares each, which is predicted to be worth around 9.2 billion won ($7.7M), given that each share is worth \\135,000.
BTS is described as the label's "main artist" and each member is a "creator with great producing skills." Big Hit say that by members owning the stocks, they expect the partnership between the two will grow stronger both as an artist and a creator.
Big Hit's revenue and profit during the first half of 2020 was 294 billion won & 49.7 billion won respectively, slightly down from the same time last year due to the cancellation of concerts because of the pandemic. But album sales are up by 70%, reaching 132 billion won.
By the end of 2018, the number of staff at Big Hit was 167. After the first half of 2020, 892 staff members now work for the company, hence the move of its headquarters to the new office in Yongsan, with plans to move in sometime early next year.
For those interested in how "main" BTS is at the company: They accounted for 87.7% of Big Hit's revenue during the first half of 2020, 97.4% during the whole of 2019 and 98.2% in 2018.
In the filings, Big Hit tells investors that Jin has to be conscripted by the end of 2021 and that they are considering options to minimize the risk such as pre-making albums and other content & working around the schedule with flexibly with the bandmates who are available.
Should be interesting to see how much of the fandom can be galvanized into actually investing in the company going forward.
Also this is GREAT news for me being on the business desk.
Also this is GREAT news for me being on the business desk.
