Billionaire turns founder of Bang Si-hike
According to the Bloomberg Billionaires Index, the offer has made Big Hit founder Bang Si-Hike the owner of $1.4 billion. The seven-member band is all around the age of 20, but has brought in $68,385 each at such a young age since the song’s hit in August. The 48-year-old is the sole owner of 43 percent of the Bang Si-Hike Music Company.
Whereas two years ago gaming company Netmarble Corp. He got a 25% stake after investing $172 million in Let us tell you that gaming company Netmarble Corp. It is owned by Bang Joon Hyek, who is a relative of Bang Si Hye. Bang Jun Hyek is one of the richest celebrities of South Korea.
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Big Hit first got success in 2009
Bang Si Hike is also known as ‘Hitman’. Bang started his career as a music producer at JYP Entertainment Corp. After this, in the year 2005, he set up his own music company ‘Big Hit’, but in the initial phase the company had to struggle a lot. The company got its first success in the year 2009 in the form of the song ‘Without a Heart’.
Dynamite Song on Billboard Hot 100
At the same time, in the year 2014, BTS debuted with its single album ‘2 Cool 4 School’ (2 Cool 4 Skool). The band’s album proved to be a hit and they were awarded the ‘Top Social Artist Award’ at the 2017 Billboard Music Awards. Here, the band’s superhit song ‘Dynamite’ has got the first place in the ‘Billboard Hot 100’ chart. Let us tell you that ‘Dynamite’ has become the first Asian song to top the US rankings since Kyu Sakamoto’s song ‘Sukiyaki’ in 1963.
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Over-dependence on BTS can become a problem
According to data from IPO filings, BTS contributed 97 per cent of its earnings in the ‘Big Hit’ last year and around 88 per cent in the first half of 2020. Big Hit’s revenue declined just 8 per cent to $294 billion in the six months to June, but the company believes the coronavirus could have a major impact on earnings. It is believed that music company Big Hit’s over-reliance on BTS in terms of earnings can push it towards losses. This is because according to the rule of the army of the country, there is a provision for the youth between the age of 18 to 28 to serve at least two years in the army.
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