This week has swept the Gaon Weekly Chart by winning four Awards with their newest single “Dynamite.”
ON September 3, Gaon Weekly Chart officially announced that BTS had won four separate categories for the week of August 23 to August 29 with their latest single “Dynamite.” The song claimed number 1 on the week’s overall digital chart, streaming chart, digital download chart, and BGM chart, which tracks the songs that people purchased to use as background music for their vlogs and other uses.
BTS also wins on SBS’s “Inkigayo” for the second time for their single “Dynamite” with ITZY’s “Not Shy.” And, the group takes the crown on MTV’s “The Show” for the third time as they were up against (G)I-DLE, CRAVITY, ITZY, and Park Jin Young.
With the success of BTS this year, Forbes predicted that the Korean boyband would have a possible shot in the Grammy’s next year with the album “Map of Soul: 7” as something of an outlier in vertical, as it’s one of only a few sets performed mostly in a language other than English, while the Grammy’s don’t tend to favor those releases, it has a lot going for it.
Big Hit Entertainment Files For IPO
Meanwhile, BTS’ record label, Big Hit Entertainment, files for an initial public offering on Wednesday. The company said that the filing would offer 7.13 million shares at a price between 105,00 Won and 135,000 Won.
The filing would carry out the book-building procedure to gauge demand on September 14-25 for global investors and September 24-25 for the domestic market. NH Investment & Securities, Korea Investment & Securities, and JP Morgan will serve as lead underwriters with Mirae Asset Daewoo and Kiwoon Securities participating in the IPO as members of the underwriter group.
Big Hit Entertainment earned 587.2 billion Won in revenue, with its operating profit reaching 98.7 billion Won last year, up to 94.8 percent and 23.5 percent, respectively, from a year earlier. Despite the ongoing COVID-19 pandemic, the record label posted 294 billion Won in sales and 48.9 billion Won in operating income in the first half of this year.
