Late last year, the Wall Street Journal named BTS as 2020's Music Innovator. In an in-depth article, they discuss the meteoric rise not only of the South Korean K-pop group but also its mother company, Big Hit Entertainment.
Founded in 2005, Big Hit was entering an extremely competitive industry dominated by the "big three" entertainment companies in South Korea: JYP, YG, and SM. It's no secret that the world of K Pop can be quite torturous, with would-be idols undergoing years of training before even debuting, if at all. So, Big Hit's success—which came in parallel with the upward trajectory of BTS—has become quite an inspirational story to many.
Everyone Loves An Underdog
In October of 2020, Big Hit Entertainment went through an IPO, which reportedly put Chairman and CEO Bang Si-hyuk's equity holdings at an estimated US$2.8 billion. He is also part of Tatler Asia's Most Influential: The Culture List released early this month.
At the forefront of the label's success is BTS who were underdogs in their own right. Debuting in 2013, the group had difficulty breaking into the music scene in South Korea.