BTS Helps K-Pop Band Manager Double Sales Ahead of Possible IPO
- Big Hit Entertainment sees sales jump to $86 million in 2017
- First-time financial disclosure comes ahead of possible IPO
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BTS, the South Korean K-pop boy band that was tweeted about more than any celebrity in the world last year, helped manager Big Hit Entertainment more than double its revenue in 2017 ahead of a possible initial public offering.
Sales climbed to 92.4 billion won ($86 million) last year from 35.2 billion won in 2016, Big Hit said in a full-year audit report on Thursday, the first time the company publicly disclosed its financials since it was established in 2005. Operating profit tripled to 32.5 billion won.