Bang Si Hyuk and Jimmy Jeong have landed on Billboard's '2020 Indie Power Players' list!
The '2020 Indie Power Players' list recognizes those working in music that aren't from top U.S. labels like Universal Music Group, Sony Music Entertainment, and Warner Music Group, and the two Korean music industry executives were highlighted by Billboard. Bang Si Hyuk is known as the CEO and executive producer behind BTS' label Big Hit Entertainment, while Jimmy Jeong is known as the CEO of JYP Entertainment.
Billboard wrote on Bang Si Hyuk:
"Multiplatinum albums, a global stadium tour, an army of fans — BTS has achieved it all with Bang's independent Big Hit Entertainment. The K-pop supergroup's Map of the Soul: 7 debuted atop the Billboard 200 in March, two months after BTS performed — in Korean — at the 62nd annual Grammy Awards, an evening Bang called 'truly astonishing.' Big Hit reports $507.9 million in revenue in 2019, a 95% increase over its (as yet unaudited) 2018 numbers, and Bang is now expanding beyond music. Big Hit's global fan-community platform, WeVerse, services video content, merchandise and direct social media messaging with BTS members to over 5 million subscribers.
Independence Defined: 'We achieved such growth without relying on preexisting systems. Solely focusing on content and fans and our vision — this is the independence and driving force of Big Hit.'"
On Jimmy Jeong, Billboard stated:
"While JYP has artists based in Korea, China and Japan, the company’s distribution partnership with The Orchard has given it a global reach. Since early 2019, The Orchard has handled worldwide distribution for JYP's roster of boy bands and girl groups including GOT7, DAY6, TWICE, Stray Kids and ITZY. Meanwhile, Jeong struck a strategic alliance with Republic Records for the female K-pop group TWICE, announced in February, which follows the troupe's arena-filling U.S. tour in 2019."
Congrats to Bang Si Hyuk and Jimmy Jeong! Check out the full Billboard list here.