How online BTS and Super M shows earned millions of dollars, pointing to a future revenue stream for K-pop
- When the pandemic ended their world tour, BTS staged some free online concerts, then some paid streamed events
- These were so successful, other groups followed suit and K-pop labels clawed back millions of dollars
By Kim Jae-heun
The coronavirus pandemic could have been a disaster for South Korean entertainment companies, but instead, they used it as an opportunity to go online and stage concerts on virtual platforms.
Revenue from concerts is a big deal for talent agencies such as Big Hit Entertainment, SM Entertainment and YG Entertainment. And when the coronavirus outbreak started, all three knew trouble was brewing when their K-pop groups’ concerts started getting cancelled.
This year, Big Hit Entertainment had planned to hold 39 concerts as part of BTS’ world tour covering South Korea, the US, Canada, England, Germany, Spain and Japan. However, most of them were either cancelled or postponed indefinitely.
Online performances cannot completely replace live performances. However, it showed the potential for contactless concerts. We need to think about how we can both develop both online and live concerts
To make up for what could possibly be a huge economic loss, South Korean entertainment companies settled on the alternative of holding concerts online. They figured there was no better option when the world was practising social distancing.
