Big Hit market debut takes a hit from reliance on BTS

Big Hit Entertainment hit the stock market with a USD 8.38bil valuation yesterday.

SEOUL: Big Hit Entertainment, the management label of South Korean superstar K-pop group BTS, hit the stock market with a 9.6 trillion won valuation yesterday before worries over its narrow revenue stream pulled shares below the debut price.

Analysts said the company had proven itself online-savvy, using Youtube and social media for market infiltration since in-person performances were cancelled because of the coronavirus pandemic. “The industry is booming, but it’s also very cyclical, and undergoes a lot of fluctuations, ” said Kim Hyun-yong, analyst at Hyundai Motor Securities, citing potential obstacles such as the country’s mandatory military service.

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