How much does BTS earn and contribute towards the Economy and hows it beneficial?
Answers
Answer:
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Explanation:
BTS is the highest-paid K-pop group, earning $57 million in pre-tax income in the last year, according to Forbes.
Most of that fortune comes from their "Love Yourself: Speak Yourself" world tour, in addition to their album sales and brand deals.
The group is worth $3.6 billion to South Korea's economy, contributing to a surge in tourism and increasing the appeal of South Korean products. They're expected to bring in $37 billion over the next 10 years according to the Hyundai Research Institute.
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Following is a transcript of the video.
Narrator: BTS is the biggest name in South Korea right now.
Jimmy Fallon: Please welcome BTS.
Alex Pall: BTS.
Emma Stone: BTS.
Stephen Colbert: BTS.
James Corden: BTS.
Narrator: BTS is the first group to have three No. 1 albums in a year since The Beatles. And their music video for "Boy With Luv" smashed the record for the most watched YouTube video in 24 hours when it was released in April 2019. Forbes listed the group on its Celebrity 100 list of the world's highest-paid entertainers of 2019. Ranked at No. 43, they earned $57 million in pre-tax income in the last year. A majority of those earnings came from their "Love Yourself: Speak Yourself" world tour, which grossed $44 million from just six US stadium shows. And that is only part of their fortune. Here's how the members of BTS make and spend their money.
BTS amassed their fortune through their music, album sales, concerts, merchandise, and brand deals. Their April 2019 album, "Map of the Soul: Persona," sold nearly 3.4 million copies within a month and set a record high in South Korea. They've also landed endorsement deals and partnerships with brands like Coca-Cola, Hyundai, and Puma. The group seems to turn anything they touch into a major success. In 2018, Hyundai made them global brand ambassadors for its new Palisade SUV. BTS released two concert films that also contributed to their cash flow. Their 2018 movie, "Burn the Stage," grossed over $20 million worldwide. And their most recent film, "Love Yourself in Seoul," brought in over $10 million during its January 2019 release.
BTS is worth over $3.6 billion a year to South Korea's economy. They increased South Korea's popularity, contributing to a surge in tourism. An estimated 800,000 tourists reportedly chose South Korea as their travel destination because of BTS. Their popularity also boosted the appeal of South Korean products, such as clothes, cosmetics, and food. EBay in particular saw an increase in merchandise sales thanks to BTS. EBay Korea said in April 2019 that sales had risen by more than 50% since the previous April. The country now has at least a billion dollars' worth of consumer exports associated with BTS. And they're projected to bring in an economic value of $37 billion over the next 10 years. Talk about being a national treasure.