South Korea based Big Hit Entertainment is reportedly commencing a new chapter in its history by hosting its first labels concert, bringing together artists from across the company’s wide portfolio.
The company was founded as a small organization by producer Band Si-hyuk in 2005. With its upcoming ‘2021 New Year’s Eve Live – presented by Weverse’ concert, Big Hit is expected to prove itself to its investors as well as to the domestic music landscape, which is heavily dependent on key broadcasting networks and their productions.
As opined by Pop Culture Critic, Kim Heon-sik, holding a year-end concert entirely with the company’s artists is like the apex goal of any music agency and no company would lose the opportunity of hosting one if they were able to. An instance of the same would be S.M. Entertainment, which has been holding label concerts both in and out of the nation for the introduction of its rookie artists and the reinforcement of the brand identity of the agency.
According to sources, Big Hit has been consistently facing doubts about its valuation, particularly with its listing on the country’s largest stock market index on October 15. In the last three years, BTS alone has accounted for almost 90 per cent of the overall revenue of the organization. Even if the number has reduced to nearly 70 per cent after the acquisition of Pledis, the agency behind renowned boy band, Seventeen, by Big Hit, the company’s efforts have not altered the perception of the public.
Scheduled to take place on December 31, the concert is speculated to present K-pop sensation BTS along with other Big Hit-associated K-pop idols including NU’EST, Tomorrow X Together, GFriend, and Enhypen.
The concert is more likely to be a debut performance for the company as Big Hit Labels, the name that it uses for reflecting its embrace of affiliated music agencies comprising Pledis Entertainment, Source Music, and Belift Lab.
Source credit: http://www.koreaherald.com/view.php?ud=20201210001010