From tickets to toothbrushes: BTS money-making machine seen topping Taylor Swift’s record
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Customers browsing BTS merchandise at a souvenir store in Seoul, South Korea, on March 18.
PHOTO: BLOOMBERG
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SEOUL – The return of the world’s biggest boy band BTS after their almost four-year hiatus looks set to be a major money-spinner, potentially beating US singer-songwriter Taylor Swift.
Ahead of the K-pop giants’ massive comeback concert in Seoul on March 21 and the start of a world tour, Agence France-Presse looks at how the mega-group earns money for itself – and others.
Some projections suggest that the 82-date, 23-country tour could even surpass top-grossing musician Swift, whose 21-month Eras Tour reportedly generated around US$2 billion (S$2.6 billion) in ticket sales alone.
The money comes not just from ticket sales but fans travelling from abroad and spending several days in the cities where BTS play – a phenomenon dubbed “BTSnomics”.
Starting in Goyang, South Korea, on April 9 and ending in the Philippines 11 months later, BTS’ tour encompasses 82 shows in 34 cities in 23 countries, including around 30 shows in North America.
“I expect these economic ripple effects to be distributed across all the countries and cities where the performances take place,” said Professor SooCheong Jang, who teaches tourism at Purdue University.
“Given the number of scheduled performances, the massive global fandom, including ARMY, and the explosive release of pent-up longing for the group, I judge that this impact will indeed surpass that of ‘Taylornomics’,” he said.
Analyst Kim Yu-hyuk of IBK Investment & Securities in Seoul said a “highly conservative” estimate for ticket sales and merchandise from BTS’ 82-date tour is at least US$2 billion.
Six million people could go to the shows.
And BTS may announce more dates in 2027.
On top of the 260,000 people expected to fill central Seoul on March 21, Netflix will live-stream the concert around the world.
“This is the biggest live musical performance Netflix has ever staged globally,” Netflix executive Brandon Riegg said in Seoul on March 20.
The buzz could further increase the current global hunger for almost anything with a Korean flavour, from movies and TV series to books, food and cosmetics.
KPop Demon Hunters – Netflix’s most-watched original film – recently won two Oscars and has already significantly helped boost tourism to South Korea.
From glow sticks to tuna cans
Merchandise – ranging from tuna cans and beauty devices to glow sticks, blankets, clothing and dolls – is also a major generator of cash.
Shinsegae Duty Free said its Myeongdong “K-Wave Zone”, which opened in central Seoul in January and sells K-pop-themed goods of multiple artists, is running out of BTS-related products.
Sales of BTS merchandise alone rose about 430 per cent in the week of March 13 to 19 from the previous week, it said in a statement.
“Key rings sold out the fastest, while toothbrush-and-toothpaste sets – popular with travellers – and disposable bandages also went out of stock,” Mr Kim Ji-min, a spokesman for Shinsegae, said.
“BTS has developed a new economic model for cultural IP (intellectual property), not one particular, but several, such as copyright, trademarks and design,” said Professor Dal Yong Jin, who teaches culture and digital technology at Simon Fraser University.
“Their copyright extends to games, comics, music videos,” he said. “In terms of trademarks, the sale of merchandise, including dolls, has been significant.”
BTS fans queueing to pay for merchandise at a pop-up store ahead of the band’s comeback concert in Seoul on March 21.
PHOTO: REUTERS
K-everything
South Korea’s Yonhap news agency reported the number of foreign visitors to South Korea between March 1 and 18 rose by more than 30 per cent compared with a year earlier.
BTS’ agency Hybe cited Hotels.com data showing overseas searches for Seoul jumped 160 per cent within 48 hours of the announcement for the upcoming tour, while Busan – another tour stop – saw a 2,400 per cent surge.
Economically, the group’s impact is indeed “measurable in increased tourism to South Korea, the global expansion of K-pop and spillover effects into industries like K-drama, beauty, cuisine and fashion”, Professor Gi-Wook Shin, who teaches sociology at Stanford University, said.
“In many ways, BTS helped catalyse the broader ‘K-everything’ wave, creating both cultural and economic multiplier effects,” he said. AFP
