THREAD👇
How did a Korean boy band (@BTS_twt) with only one English track (#BTS_Dynamite) become the most powerful force in music?
🤓10,000 words later, the business strategy of BTS:
judyknows.com/bts-fan-econom…
⚡️TL;DR: #BTS & @BigHitEnt are absolute masters of the fan economy
How did a Korean boy band (@BTS_twt) with only one English track (#BTS_Dynamite) become the most powerful force in music?
🤓10,000 words later, the business strategy of BTS:
judyknows.com/bts-fan-econom…
⚡️TL;DR: #BTS & @BigHitEnt are absolute masters of the fan economy
❓What's the fan economy?
💜 It relies on the building of psychological intimacy 🤝 to encourage fans to spend ⏲️ & 💰 to support
📈Despite #BTS making up 88% of revenue, @BigHitEnt hit a 6+ billion USD market cap in their 1st days on SK's KOSPI.
nytimes.com/2020/10/14/bus…
💜 It relies on the building of psychological intimacy 🤝 to encourage fans to spend ⏲️ & 💰 to support
📈Despite #BTS making up 88% of revenue, @BigHitEnt hit a 6+ billion USD market cap in their 1st days on SK's KOSPI.
nytimes.com/2020/10/14/bus…
“Big Hit have proved just how much a band can prosper through a DTC relationship, driven by digital platforms w/ lots of behind-the-scenes content that keeps fans emotionally involved. It’s engagement on a scale that no Western artist has ever achieved"
variety.com/2020/music/asi…
variety.com/2020/music/asi…
🏆 Billboard Hot 100 #1 is the holy grail of the 🌎 🎶 industry
🌟#BTS_Dynamite hit #1 3x, then Savage Love hit #1, all in 7 wks
🤯Implication: ARMY is big & organized enough to put #BTS on top, seemingly at will
theatlantic.com/culture/archiv…
🌟#BTS_Dynamite hit #1 3x, then Savage Love hit #1, all in 7 wks
🤯Implication: ARMY is big & organized enough to put #BTS on top, seemingly at will
theatlantic.com/culture/archiv…
https://twitter.com/sweetbtstea/status/1305356002850754561
The Next Gen of Fan Engagement has5⃣parts:
📀Label
🎶Artist
🤳Channel: Content, content, content
💪Fan Labour: Purchase 🛍️ Promote 🗣️ Protect🛡️
🛒Products & Services
🎯 Goal: High emotional capital 💘 = High ARPU 💹 (average revenue per user, aka fan)
📀Label
🎶Artist
🤳Channel: Content, content, content
💪Fan Labour: Purchase 🛍️ Promote 🗣️ Protect🛡️
🛒Products & Services
🎯 Goal: High emotional capital 💘 = High ARPU 💹 (average revenue per user, aka fan)
1⃣Label
@BigHitEnt is laser-focused on
😊 Fan Experience
📹 Content Creation, like @Disney, where #BTS = Mickey Mouse, "a priceless intellectual property that can be spun off in almost limitless directions.” (@BenjaminDooley)
@BigHitEnt is laser-focused on
😊 Fan Experience
📹 Content Creation, like @Disney, where #BTS = Mickey Mouse, "a priceless intellectual property that can be spun off in almost limitless directions.” (@BenjaminDooley)
2⃣ARTIST
@BTS_twt has 7 members talented in singing, rapping, dancing, performing, & songwriting:
🐨 RM
🐹 Jin
🐱 Suga
🐿️ J-Hope
🐥 Jimin
🐯 V
🐰 Jungkook
Through music & content, #BTS focuses on “healing” messages
🌟Joy
🎇Delight
🤗Comfort
nme.com/music-intervie…
@BTS_twt has 7 members talented in singing, rapping, dancing, performing, & songwriting:
🐨 RM
🐹 Jin
🐱 Suga
🐿️ J-Hope
🐥 Jimin
🐯 V
🐰 Jungkook
Through music & content, #BTS focuses on “healing” messages
🌟Joy
🎇Delight
🤗Comfort
nme.com/music-intervie…
2⃣ARTIST
🥰Besides good looks and talent, BTS excels at making fans feel heard and understood.
💜In short, like friends.
📺Developing "parasocial relationships" (one-sided bonds built w/ media figures) = greater emotional capital
theverge.com/2019/7/25/8929…
🥰Besides good looks and talent, BTS excels at making fans feel heard and understood.
💜In short, like friends.
📺Developing "parasocial relationships" (one-sided bonds built w/ media figures) = greater emotional capital
theverge.com/2019/7/25/8929…
3⃣Channel
Fans feel like they really know @BTS_twt as friends through key interactive channels:
👋@Twitter
📹@YouTube: MVs, performances, vlogs
🎙️@SoundCloud: covers, remixes
🗣️@Vliveofficial: livestreams, variety
💬@weverseofficial: Big Hit's fan engagement platform (🖼️👇)
Fans feel like they really know @BTS_twt as friends through key interactive channels:
📹@YouTube: MVs, performances, vlogs
🎙️@SoundCloud: covers, remixes
🗣️@Vliveofficial: livestreams, variety
💬@weverseofficial: Big Hit's fan engagement platform (🖼️👇)
🤯 Content Volume: "We (@BigHitEnt) were one of the first to release this behind-the-scenes footage at such a large frequency"
😇 Consistent focus on #BTS's
✔️ Sincerity
✔️ Authenticity
✔️ Relatability
✔️ Vulnerability
hyperallergic.com/591697/break-t…
😇 Consistent focus on #BTS's
✔️ Sincerity
✔️ Authenticity
✔️ Relatability
✔️ Vulnerability
hyperallergic.com/591697/break-t…
4⃣Fan Labour
🤯A mind-boggling amount of fan labour goes into supporting both #BTS & #BTSARMY:
🛍️Purchase: Mobilize, Organize, Fundraise
🗣️Promote: Share, Translate, Write
🛡️Protect: Respond, Edit, Research
👇See *just* the project plan for JK's bday 🎂
🤯A mind-boggling amount of fan labour goes into supporting both #BTS & #BTSARMY:
🛍️Purchase: Mobilize, Organize, Fundraise
🗣️Promote: Share, Translate, Write
🛡️Protect: Respond, Edit, Research
👇See *just* the project plan for JK's bday 🎂
https://twitter.com/Jungkook__China/status/1300330673375514624
🛍️Purchase
Fan accounts mobilise and organise on BTS’s behalf to get ARMY hyped up about what they need to do to support BTS. Here’s the “comeback goals” video for their next album #BTS_BE
Fan accounts mobilise and organise on BTS’s behalf to get ARMY hyped up about what they need to do to support BTS. Here’s the “comeback goals” video for their next album #BTS_BE
https://twitter.com/gvfxarmy/status/1316711596387958787?s=20
To make sure every fan knows how to help #BTS, fan accts will:
🕹️Strategize on tactics (see @amazonmusic playbook 👇by @BorahaeFunds_DA)
🎛️ Organize testing to ensure those tactics reach the desired outcomes
📢 Communicate
🕹️Strategize on tactics (see @amazonmusic playbook 👇by @BorahaeFunds_DA)
🎛️ Organize testing to ensure those tactics reach the desired outcomes
📢 Communicate
https://twitter.com/BorahaeFunds_DA/status/1308487786358624257?s=20
💰Fan accounts fundraise & distribute funds for #BTS purchases (@BorahaeFunds, @fundsforbangtan)
🧑💼These are pros: run by fans who are financial controllers, LSS black belts, and data scientists.
This is a weekly funding report by @BorahaeFunds
🧑💼These are pros: run by fans who are financial controllers, LSS black belts, and data scientists.
This is a weekly funding report by @BorahaeFunds
https://twitter.com/BorahaeFunds/status/1304670802764210176?s=20
🗣️Promote
Accounts like @BTSdailyinfo & @BTSPressData act like BTS's PR reps:
Accounts like @BTSdailyinfo & @BTSPressData act like BTS's PR reps:
https://twitter.com/BTSdailyinfo/status/1315718471875883014?s=20
👊Fan PR efforts have literally landed the group commercial opportunities.
BTS endorse the 🇰🇷 vitamin brand Lemona because fans called them “human vitamins” & caught the attention of their marketers, who saw the potential for a partnership.
BTS endorse the 🇰🇷 vitamin brand Lemona because fans called them “human vitamins” & caught the attention of their marketers, who saw the potential for a partnership.
https://twitter.com/modooborahae/status/1312731654667087872?s=20
👂The biggest barrier for most of BTS’s new fans is language
🇰🇷@BigHitEnt has translations for MVs but fan translators (@doolsetbangtan, @ColinSH3) help explain the lyricism, wordplay and cultural nuances of the group’s lyrics.
🇰🇷@BigHitEnt has translations for MVs but fan translators (@doolsetbangtan, @ColinSH3) help explain the lyricism, wordplay and cultural nuances of the group’s lyrics.
https://twitter.com/ResearchBTS/status/1312177504413577217
📝Within minutes of the release of any new piece of BTS-related content, translations start to appear on major platforms
🗣️ ARMY can quickly distinguish which member said what in a translation through these emojis:
🗣️ ARMY can quickly distinguish which member said what in a translation through these emojis:
https://twitter.com/selkie_bts/status/1259108112864329728?s=20
So purchase & promote are obvious.
🤔What's w/ "protect?" Why is ARMY so protective of BTS?
@TheKpopProf: "BTS were underdogs, and there was a (real) understanding that w/o ARMY this special group might not survive in the cutthroat industry."
🤔What's w/ "protect?" Why is ARMY so protective of BTS?
@TheKpopProf: "BTS were underdogs, and there was a (real) understanding that w/o ARMY this special group might not survive in the cutthroat industry."
https://twitter.com/TheKpopProf/status/1305168459907706888?s=20
🛡️Protect
😡Don't dismiss BTS as "just a boy band." Scholars like @ColetteBalmain @BangtanScholars @ResearchBTS discuss and share the impact of BTS on a number of academic fields.
🤓There's a peer-reviewed journal (@TheR3Journal) & a BTS conference: metro.co.uk/2020/01/29/a-l…
😡Don't dismiss BTS as "just a boy band." Scholars like @ColetteBalmain @BangtanScholars @ResearchBTS discuss and share the impact of BTS on a number of academic fields.
🤓There's a peer-reviewed journal (@TheR3Journal) & a BTS conference: metro.co.uk/2020/01/29/a-l…
5⃣Products & Services
🎼BTS puts out all the usual music & concerts.
😲What's cool is all the "extra" services, like art exhibits (#ConnectBTS), video games, and Korean language materials:
soompi.com/article/141833…
🎼BTS puts out all the usual music & concerts.
😲What's cool is all the "extra" services, like art exhibits (#ConnectBTS), video games, and Korean language materials:
soompi.com/article/141833…
📝 Storytelling is at the core of everything BTS
🎇The "BTS Universe" is a parallel universe leveraging the members as the basis for fictional characters with tragic backstories.
📊It's an example of Big Hit's "secondary IP" strategy
👇@writer_court
thebtseffect.com/bu-starter-gui…
🎇The "BTS Universe" is a parallel universe leveraging the members as the basis for fictional characters with tragic backstories.
📊It's an example of Big Hit's "secondary IP" strategy
👇@writer_court
thebtseffect.com/bu-starter-gui…
@ballmatthew: "Businesses based around storytelling franchises excel based on an intangible sort of operating leverage... the more opportunities to exploit this love – and the better you are at it – the greater the leverage.”
🤔 Big Hit's valuation!
matthewball.vc/all/marginalaf…
🤔 Big Hit's valuation!
matthewball.vc/all/marginalaf…
Three "secondary IP" brands help realize Big Hit's “Artist Indirect-Involvement" business model.
📊It creates a more stable, recurring revenue base that isn’t directly dependent on BTS output.
1. BTS Universe
2. @TinyTANofficial
3. @BT21_
forbes.com/sites/tamarher…
📊It creates a more stable, recurring revenue base that isn’t directly dependent on BTS output.
1. BTS Universe
2. @TinyTANofficial
3. @BT21_
forbes.com/sites/tamarher…
✨So, what is special about BTS and why did they make it so big?
😊It’s the enviable synergy of seven young men (@BTS_twt), their company (@BigHitEnt), and their massive global fanbase (#BTSARMY)
👇Read the full 10-part series here:
judyknows.com/bts/
😊It’s the enviable synergy of seven young men (@BTS_twt), their company (@BigHitEnt), and their massive global fanbase (#BTSARMY)
👇Read the full 10-part series here:
judyknows.com/bts/
😆Haha - just kidding. I don't expect anyone to read all ten parts (& 50,000 words) at once.
I'll break down one part every week in a Twitter thread.
Hope to see you around 👋
(Thanks to #BTSARMY for the inspiration... I'm in awe of your dedication 🙏)
I'll break down one part every week in a Twitter thread.
Hope to see you around 👋
(Thanks to #BTSARMY for the inspiration... I'm in awe of your dedication 🙏)
But... if you are looking to work at @BigHitEnt (they're hiring in the US too), I basically wrote a study guide for you.
@hyunsuinseoul translates their interview Qs👇
"Explain what you think are the reasons behind BTS’ success"
@hyunsuinseoul translates their interview Qs👇
"Explain what you think are the reasons behind BTS’ success"
https://twitter.com/hyunsuinseoul/status/1273142656907042817?s=20
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