BTS' first English single "Dynamite " could bring up to $1.4 billion USD in revenue to South Korea, according to a government study.
The study, conducted by the Ministry of Culture, Sports, and Tourism, estimated that BTS could generate 1.7 trillion won ($1.43 billion USD) worth of economic activity for the country. It projected that 8,000 new jobs could be created as a result.
The figures used for the study were based on Big Hit Entertainment's sales reports, statistics from the South Korean Customs agency, and the Central Bank of Korea. It also took into account trends from Google data.
The impressive figures did not factor in the income generated from tourism because of the travel restrictions brought about by the global coronavirus pandemic. Researchers said that, if the tourism sector was operating normally, the figures could have been much higher.
According to a report by Channel News Asia, BTS opened the doors for more economic activity when they successfully topped the Billboard Hot 100 last month. This was the first time the feat was achieved by any Korean artist.
With BTS' recent comeback, they smashed several viewing records on YouTube as well. Upon the release of "Dynamite," the group was able to reclaim the record for the most viewed MV premiere in history.
BTS first achieved the milestone early this year for "ON" and repeated the feat with "Dynamite" after four million loyal ARMYs tuned in to the music video's release last August 21.
BTS also managed to break the record for the most viewed video in 24 hours and the fastest video to reach 100 million views. "Dynamite" pulled off an impressive 101.1 million views within its first day of release.
Meanwhile, the MV recently broke the 300 million views mark, making it the fastest Kpop MV to achieve the milestone. "Dynamite" was only on YouTube for 15 days, 3 hours, and 50 minutes when it hit 300 million streams, All Kpop reported.
BTS' record-breaking year is still in full steam. The group confirmed that they are planning to release another album before the end of the year.
BTS will also officially become part owners of Big Hit Entertainment when the label opens for initial public offering (IPO). It was reported that Big Hit founder and CEO Bang Si Hyuk gifted BTS 500,000 shares of the label, split among the seven members.
With this, the members will not only receive millions of dollars worth of shares but they will also own 33 percent of the company that they helped grow, Huffington Post reported.
