Big Hit Entertainment the record label that brought the world BTS is estimated to be around $2.5 billion ahead of its highly anticipated IPO, reports UPI. That market capitalization is about the size of the other three biggest music labels – JYP, YG, and SM Entertainment- in South Korea combined. This huge market cap comes on the back of the biggest boy band in the world BTS who has sold more than 20 million physical albums. In just this first half-year, the k-pop group brought in $250 million in sales.
The IPO would make Big Hit’s founder Bang Si-hyuk a very rich man. He would automatically become one of South Korea’s richest people. Another person getting rich off the IPO is Park Seong-ho who invested $3.4 million into the company in 2011 and 2012. He so far made $92 million in 2018 off that investment alone.
But Big Hit isn’t just a record label. It has grown into a digital business and intellectual property licenses seller. That diversity helped in coming up with the huge evaluation.