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Massive Hit Leisure made record-breaking earnings in 2020 amidst COVID-19 pandemic  : Bollywood News – NewsEverything Bollywood

In 2020, Massive Hit Leisure (hereinafter known as “Massive Hit”) recorded the very best annual efficiency since its basis, disclosing the preliminary figures of KRW 796.three billion in gross sales, KRW 142.four billion in working revenue, and KRW 86.2 billion in internet revenue. Regardless of the difficult surroundings because of the COVID-19 pandemic, its annual gross sales grew by 36% year-on-year whereas its working revenue and internet revenue elevated by 44% and 19% respectively.

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Massive Hit additionally introduced the 2020 This fall outcomes of KRW 312.three billion in gross sales and KRW 52.5 billion in working revenue, recording 117% and 122% improve respectively in comparison with 2019 This fall. This additionally marks essentially the most distinguished quarterly efficiency for the reason that firm’s basis.

Sturdy album gross sales and balanced development within the enterprise models performed key roles in driving revenues. In 2020, Massive Hit Labels artists, led by BTS, SEVENTEEN, TOMORROW X TOGETHER, and ENHYPEN, offered a complete of 13.22 million copies (primarily based on the Gaon Music Chart). Income from the album gross sales almost tripled to KRW 320.6 billion. Massive Hit acquired PLEDIS Leisure in Could and KOZ Leisure in November final 12 months, bolstering its multi-label system together with Massive Hit, Belift Lab and Supply Music.

Balanced development within the enterprise models additionally contributed to the gross sales improve. Though the income from off-line concert events declined attributable to COVID-19, official merchandise and licensing, content material, and fan club-related gross sales elevated by 53%, 71%, and 66% respectively, in comparison with 2019. Massive Hit will try to pursue balanced development amongst enterprise models.

World fan group platform Weverse additionally confirmed regular development. As of February 2021, Weverse has established itself as a “No.1 World Fan Platform” by recording 25 million cumulative app downloads, and having world artists from main labels abroad be a part of or set to hitch the platform.

Massive Hit mentioned, “Regardless of the COVID-19 state of affairs, we had been capable of obtain the very best efficiency ever primarily based on the strong enterprise construction. Our technique is to maintain increasing the scope of our enterprise by inorganic development, akin to merger and acquisition, together with the continued development of Massive Hit Labels artists. We’ll proceed to advance by cooperating with exterior companions in numerous methods sooner or later, together with the lately introduced acquisition of V LIVE by Weverse Firm and strategic partnership with Common Music Group.”

ALSO READ: BTS’ J-Hope donates 150 million received to ChildFund Korea to assist kids with disabilities

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