MBW’s Stat Of The Week is a collection wherein we spotlight an information level that deserves the eye of the worldwide music trade. Stat Of the Week is supported by Cinq Music Group, a technology-driven document label, distribution, and rights administration firm.
Jungkook is a solo celebrity.
On the time of writing, in accordance with stats obtainable publicly on Spotify, the HYBE-signed Ok-Pop artist has 35,578,104 month-to-month listeners on the music streaming platform.
BTS, the megastar Ok-Pop group of which Jungkook is a member, has 34,981,739 month-to-month Spotify listeners, which signifies that he has formally overtaken his personal band’s month-to-month listener rely on the platform, by 596,365 month-to-month listeners, in accordance with our calculations.
Jungkook has seen phenomenal success over the previous month following the discharge of his hit single Seven, that includes rapper Latto, on July 14.
It’s value noting that Jungkook has achieved his huge month-to-month listener base on Spotify with out having launched an album.
In keeping with Spotify information, Seven’s debut day on the service noticed it appeal to 15.995 million chart-eligible world streams.
That was sufficient to make it the largest debut 24 hours for a brand new collaboration monitor in historical past, and the time the largest new launch on the service to this point this yr.
The monitor debuted at No.1 on the Billboard Scorching 100 chart (dated July 29, 2023), and on the time of writing, has been streamed over 413.3 million occasions on Spotify alone.
Seven has additionally held the No.1 place on the Spotify International High 50 chart for the previous 5 weeks.
Jungkook’s newest launch arrived round 9 months after HYBE Company confirmed that BTS was about to go on hiatus, whereas a few of its members fulfill obligatory army service of their house nation of South Korea.
As famous by MBW final month, the discharge was a serious take a look at for HYBE’s post-BTS technique throughout the globe.
That technique, HYBE defined on the time, consisted of two elements: Firstly, it deliberate to develop a ‘multi-label’ construction to accommodate superstars exterior of its flagship group and largest income generator, BTS.
Secondly, it might depend on the solo releases of BTS members similar to Jimin, Jin, Suga, and Jungkook to fulfill BTS followers till the group reconvened in 2025.
This plan, introduced by HYBE’s world CEO, Jiwon Park, didn’t totally reassure the corporate’s shareholders, with HYBE’s share worth hitting an all-time low on October 13, 2022, the identical month that HYBE confirmed BTS’s hiatus.
That was down near 1 / 4 of the Publicly-traded firm’s all-time share worth peak of 400,500 KRW in November 2021.
Since then, nevertheless, HYBE has greater than proved that it might probably generate important gross sales within the absence of BTS.
Most not too long ago, in Q2 2023, throughout all of its enterprise models, HYBE clocked revenues of KRW 620.99 billion ($470 million), up 21.2% YoY.
For the primary half of 2023, digital and bodily album gross sales got here in at 22.7 million, already surpassing the 22.2 million offered in all of 2022, HYBE stated in its earnings assertion.
The labels’ biggest-selling artists in H1 had been SEVENTEEN (8.87 million albums), Stray Youngsters (6.07 million) and TOMORROW X TOGETHER (3.54 million).
Jung Kook’s not the one solo BTS member to carry out nicely this yr.
His bandmate Jimin launched his solo album FACE on March 24 and HYBE confirmed in its Q1 investor presentation that the album offered 1.45 million copies worldwide on its first day, changing into the primary solo Ok-Pop artist to promote greater than 1,000,000 albums on launch day.
HYBE has additionally seen success exterior of BTS, significantly with 13-member Ok-Pop group Seventeen, who’re signed through HYBE label Pledis Leisure.
In keeping with HYBE, Seventeen’s ’tenth mini album’ FML offered 3.99 million copies on its first day (April 24), which HYBE stated is a “new world document” for a Ok-Pop album. HYBE confirmed to MBW that these 3.99 million copies offered solely embrace bodily gross sales.
South Korea-based chart firm Hanteo, whose real-time bodily album chart tracks album gross sales from over 1,100 document shops worldwide, reported that FML offered over 4.5 million bodily copies worldwide in its first week.
Hanteo additionally reported that FML racked up 4.64 million preorders, making it the most-preordered Ok-Pop album of all time, on the time. (JYP-Leisure-signed Ok-Pop band Stray Youngsters breaking the document in June). Again in 2020, HYBE-signed superstars BTS’s Map of the Soul: 7 obtained 4.02 million pre-orders.
In the meantime, earlier this month, we realized that HYBE is taking full management of BeLift Lab, the label that’s house to Ok-pop stars Enhypen.
BeLift began out as a three way partnership between HYBE and CJ ENM, proprietor of South Korean pay-TV music channel Mnet.
In keeping with HYBE, the deal “marks a big step ahead in HYBE’s strategic multi-label construction, increasing its content material and artist portfolio even additional”.
In a press launch shared with MBW, HYBE says that it’s buying a 51.5% stake within the label from CJ ENM, which means that it’s going to now personal 100% of BeLift.
In keeping with native stories, HYBE is shopping for CJ ENM’s 51.5% stake in BeLift for 150 billion South Korea Gained (approx. USD $113.8m)
Cinq Music Group’s repertoire has gained Grammy awards, dozens of Gold and Platinum RIAA certifications, and quite a few No.1 chart positions on a wide range of Billboard charts. Its repertoire consists of heavyweights similar to Unhealthy Bunny, Janet Jackson, Daddy Yankee, T.I., Sean Kingston, Anuel, and tons of extra.Music Enterprise Worldwide
