It has been reported that major Kpop labels are also benefitting fromBTS's success as they share in the windfall.
According to Pulse News, there has been an increase in share prices of the major Kpop labels such as JYP Entertainment, SM Entertainment, and YG Entertainment.
The shares of JYP Entertainment grew 3.54 percent from the previous session, hitting a new high of 42,450 KRW (~36 USD). The company broke its record high when Big Hit Entertainment submitted a securities registration statement with the Financial Services Commission.
YG Entertainment reached a market cap of 1.05 trillion KRW but it's subsidiary YG PLUS increased 15.25 percent from the previous session.
Shares of SM Entertainment also increased 1.81 percent reaching 39,000 KRW per share with a market cap of 921.6 billion KRW.
Shares of JYP, SM, and YG increased 13.20 percent, 5.36 percent, and 14.74 percent respectively. Entertainment stocks had gone down earlier this year due to the cancellation of concerts and performances in light of the COVID19 pandemic.
However, Big Hit Entertainment has drawn much attention as they are ready for the big IPO along with the great success of BTS's new English single "Dynamite", which topped the U.S Billboard's 'HOT100'.
Entertainment stocks are making a quick rise and gaining momentum as many agencies fall back to digital singles and online performances.
SHARE
unpopular opinion but im pretty sure these increases are due to overcoming covid rather than BTS' influence. the entertainment industry's been fucked this year bc of covid but as countries are increasing safety regulations and reducing transmissions things are slowly picking back up again, which causes stock to naturally increase. BTS IPO might have urged more ppl to buy shares of the other entertainment labels, but i'm pretty sure that didn't account for these increases.
1 more reply