"BTS with their work and presence speak every language because their genuine care for one another and what they do transcends all barriers, proving time and time again, love can be louder than words. The impact they have over the economy is just one reflection of their influence, shedding some light on the movement BTS has become." -- Justine Courtenay-Huang
Where BTS, the dominating seven member South Korean Global Supergroup, has impacted millions of people through their music fused with messages of self-love and growth, they also have left and continue to leave an undeniable mark on financial ecosystems. Their fandom, which goes by the name ARMY, lives up to their title, powerful as a driving force in the economy surrounding the band.
In 2018 a survey conducted by the Hyundai Research Institute found that 1 out of every 13 people going to visit South Korea went because of/to see BTS. Even more recently, in late January, the youngest member and star of a vocalist, Jungkook, briefly mentioned liking Downy fabric softener. A day later, two months of stock were bought from the shelves of stores, going on to be covered by multiple news stations such as the South Korean outlets, SBS and CNBS, which specialize specifically in economic news. Downy issued a formal apology for running out of sales as the demands didn’t cease. Not only did this unplanned promotion cause quite a buzz in business circles, but it also ended up in the company issue news, where Jungkook was noted among companies that brought in a substantial flood of interaction with their products. Ironically enough, Jungkook himself was unable to get more fabric softener because of this, which he later took to Twitter (sorry Jungkook). Mattel, the number one toy making company in the world and US, experienced the power of BTS first-handed, their shares getting a 6% jump after announcing a collaboration with the band.
Along with BTS’s very obvious effect over companies, and tourism, BTS is estimated to bring in about $3.8 billion (US dollars) to the South Korean economy annually, and as of last year, an additional $1.4 billion (US dollars) in consumer exports alone.
In addition to BTS's economic influence, the band is also moving the needle on important social issues, not only causing substantial change but being a part of it. It was just two years ago, in October of 2017, that their partnership with Unicef was first announced. Their campaign, dubbed Love Myself, is a collaboration with the United Nations Children Fund (UNICEF Korea), that works to end violence against youth and children. Its unveiling accumulated so much involvement that the website announcing the campaign crashed upon its publishment, going on to raise over $2.1 million, as of April 2019 both from direct donations, and the portion of their album sales set for this. This is a perfect example of their exemplary ability to initiate involvement on a worldwide scale
The passionate authenticity you see in ARMY has only grown to these extreme amounts because it is absolutely mutual. BTS with their work and presence speak every language because their genuine care for one another and what they do transcends all barriers, proving time and time again, love can be louder than words. The impact they have over the economy is just one reflection of their influence, shedding some light on the movement BTS has become.
In 2018 a survey conducted by the Hyundai Research Institute found that 1 out of every 13 people going to visit South Korea went because of/to see BTS. Even more recently, in late January, the youngest member and star of a vocalist, Jungkook, briefly mentioned liking Downy fabric softener. A day later, two months of stock were bought from the shelves of stores, going on to be covered by multiple news stations such as the South Korean outlets, SBS and CNBS, which specialize specifically in economic news. Downy issued a formal apology for running out of sales as the demands didn’t cease. Not only did this unplanned promotion cause quite a buzz in business circles, but it also ended up in the company issue news, where Jungkook was noted among companies that brought in a substantial flood of interaction with their products. Ironically enough, Jungkook himself was unable to get more fabric softener because of this, which he later took to Twitter (sorry Jungkook). Mattel, the number one toy making company in the world and US, experienced the power of BTS first-handed, their shares getting a 6% jump after announcing a collaboration with the band.
Along with BTS’s very obvious effect over companies, and tourism, BTS is estimated to bring in about $3.8 billion (US dollars) to the South Korean economy annually, and as of last year, an additional $1.4 billion (US dollars) in consumer exports alone.
In addition to BTS's economic influence, the band is also moving the needle on important social issues, not only causing substantial change but being a part of it. It was just two years ago, in October of 2017, that their partnership with Unicef was first announced. Their campaign, dubbed Love Myself, is a collaboration with the United Nations Children Fund (UNICEF Korea), that works to end violence against youth and children. Its unveiling accumulated so much involvement that the website announcing the campaign crashed upon its publishment, going on to raise over $2.1 million, as of April 2019 both from direct donations, and the portion of their album sales set for this. This is a perfect example of their exemplary ability to initiate involvement on a worldwide scale
The passionate authenticity you see in ARMY has only grown to these extreme amounts because it is absolutely mutual. BTS with their work and presence speak every language because their genuine care for one another and what they do transcends all barriers, proving time and time again, love can be louder than words. The impact they have over the economy is just one reflection of their influence, shedding some light on the movement BTS has become.
