K-pop darling BTS that celebrates the 10-year debut anniversary on Tuesday has brought seismic changes to the local entertainment scene, generating more than 6 trillion won ($4.7 billion) in annual economic value.

Hyundai Research Institute estimated that BTS creates an estimated 5.5 trillion won in economic value in 2018 while Forbes estimated 6.6 trillion won.

Hybe Corp., the entertainment agency behind BTS formerly known as Big Hit Entertainment Co., has become South Korea’s largest entertainment company with a market cap of 12 trillion won as of Monday.

BTS’s 10th anniversary is shedding light on how the seven-member boy group has become globally influential and successful.

BTS started out by advocating for their own dreams with their debut song “No More Dream.” It boldly confronted the hatred and prejudice directed at themselves with “IDOL” in 2018 and voiced their hopes to fight discrimination together through music and dance with “Permission to Dance” in 2021, among others.

The global influence of BTS continues even during their hiatus to serve the military.

BTS on Friday released a surprise song “Take Two” dedicated to their fandom ARMY established 10 years ago. The music topped the iTunes Top Songs chart in 92 countries and regions around the world upon its release.

In the early days of BTS’s appearance in 2013, the group was able to garner some attention as hip-hop idols and the first boy group raised by Producer Bang Si-hyuk, but it was difficult for small and medium-sized agencies to get a chance to appear on terrestrial music broadcasts in a market dominated by three major entertainment companies - SM Entertainment Co., YG Entertainment Co., and JYP Entertainment Corp.

BTS, however, grew by constantly proving themselves. The group utilized Twitter and YouTube for more contact with their fans.

It also established a unique position with their sophisticated music and perfectly organized group dance performances in every song they released, such as “Boy In Luv,” “I Need You,” and “Fire.”

They have multiple records.

In 2017, they won their first-ever Billboard Music Awards (BBMAs) for Top Social Artist. They also became the first K-pop artist to be No. 1 on the Billboard Hot 100 with the English version of their hit song “Dynamite” in 2020. Six more songs followed suit, including “Life Goes On” and “Butter.”



BTS was nominated for the Grammy Awards, the most prestigious music award in the U.S., for three straight years, and won trophies at the American Music Awards for five consecutive years.

BTS is considered a positive influencer.

The group made itself the icon of the time by sending messages related to the youth’s constant struggles and pursuit of happiness. The members reflected their own voices into the music.

BTS also made a speech at the United Nations General Assembly three times on behalf of the young people. They even visited the White House at the invitation of U.S. President Joe Biden and publicly spoke out against Asian hate crimes.

The group entered a new phase in their career by going solo, with some members serving the military.

JungKook opened the Qatar World Cup last November by singing the theme song “Dreamers,” while Jimin topped the Billboard Hot 100 with his first solo title, “Like Crazy,” in March. Sugar is currently touring North America and Asia for his solo concert, getting a 5-star rating from British magazine NME.

To celebrate BTS’s 10th anniversary, The 2023 BTS FESTA will be held around the world. The members organized their own media advertisements with the slogan “BTS Presents Everywhere,” and messages of their own handwriting will be displayed on large billboards in the downtown areas of Seoul such as COEX and Myeong-dong as well as the members’ hometowns of Gwangju, Busan, and Daegu until June 25.

Outdoor advertisements will also run until June 18 in New York, Los Angeles, U.S. and Tokyo, Japan.

Lighting in BTS’s iconic color purple will illuminate the major landmarks of Seoul, including Namsan Seoul Tower, Sebitseom, and Sejong Center for the Performing Arts, in collaboration with the Seoul Metropolitan Government.

Festivals will take place around the Han River Park in Yeouido, Seoul on Saturday. Lead member RM will take the stage with his fans for a radio show in the afternoon.

Fireworks are also scheduled to light up the Seoul skyline for 30 minutes in the evening. Various brands such as GS25 Co. and S-Oil Corp. will be participating in the event. Korea Post has also issued 1.5 million limited edition stamps to commemorate the 10th anniversary of BTS.

By Chung Joo-won, Park Joon-hyung, and Choi Jieun

[ⓒ Pulse by Maeil Business Newspaper & mk.co.kr, All rights reserved]