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The consensus for HYBE’s operating profit is 75.4 billion won ($63.6 million), the highest figure in the company’s history. The third-quarter earnings estimates for HYBE and YG Entertainment are also optimistic. Now the audience figure for the world tour is projected at 3 million people, meaning that HYBE can raise about 500 billion won ($421 million) in live concert revenues,” said another securities firm Hyundai Motor Securities Co. “The number of the global audience that HYBE estimated in February last year in preparing for the global tour was 2.2 million. The resumption of live concerts will bring new growth momentum to the industry,” said Hana Financial Investment Co. “Even with the pandemic, these entertainment firms with a wide global fan base were able to ramp up music streaming and album sales. closed flat at 63,600 won ($53.67) despite having reached 68,300 won ($57.64) during the trading session.Īnalysts highlight that the revival of live concerts will help South Korean entertainment firms make significant rebounds in earnings next year.
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gained 1.01% to reach 40,100 won ($33.85) on the same day, whereas SM Entertainment Co. Blackpink has 67.4 million subscribers on YouTube as of Sept. 10 surpassing Justin Bieber as the music artist with the highest number of subscribers on YouTube. Experts noted that YG’s shares rose the most as its girl group Blackpink is expected to be the next in line to resume live concerts globally.īlackpink’s global fan base has significantly widened during the pandemic, as seen by its recent achievement on Sept. was the biggest gainer among the major entertainment firms by moving up 5.83% to 56,300 won ($47.51). HYBE rose by 1.98% to 283,500 won ($239.30) a share, whereas YG Entertainment Inc.
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MUSIC & ENTERTAINMENT SHARES SET TO SOAR IN 2022įollowing the concert announcement, share prices of HYBE and other major South Korean entertainment companies moved up despite Kospi’s 1.14% drop on Tuesday.
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With the tour canceled altogether given the pandemic, HYBE instead held an online concert last year titled BTS Map of the Soul ON:E (Online Edition) in October that drew an audience of more than 1 million people worldwide. The last time BTS opened a live concert was in October of 2019, prior to the spread of the pandemic, in Seoul.īTS in April 2020 had planned to kick off a major world tour starting with Seoul and moving to the US, Canada, Germany, Spain as well as the UK. has vaccinated more than 100 relevant employees in advance. In preparation for the first live concert in two years, sources said that the BTS agency HYBE Co. The city’s SoFi Stadium, which can hold an audience of more than 70,000 people, will host all four nights of the concert. 28 on its official social media accounts and the online fan platform Weverse that BTS Permission to Dance on Stage will be held in LA Nov. BTS will travel to Los Angeles in November for its first live concert since the outbreak of the COVID-19 pandemic.īTS said on Sept.