Dispatch Discusses the Key Factors of HYBE's Steady Growth in the Music Market
On July 21, Dispatch talked about the driving forces behind HYBE's continuous growth over the past months.
Despite the ongoing COVID-19 pandemic, HYBE (formerly Big Hit Entertainment) is showing a steep improvement in the music market this 2021.
But what could be the main factors that cause the company to have a constant upward trend in sales, earnings, and profit?
Dispatch Lists the Key Points of HYBE's Consistent Growth
According to Dispatch, the first contributor to HYBE's tremendous success is BTS's new digital single, "Butter."
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The Korean media outlet noted that BTS's "Butter" has spent seven consecutive weeks on the Billboard Hot 100 chart.
While BTS's "Permission to Dance" took over the No. 1 spot on the Hot 100 for the week ending on July 24, "Butter" remains as the longest-charting No. 1 song by an Asian act on Hot 100 in history.
Dispatch stated that this Billboard milestone attained by BTS is something that could not have been imagined in the past.
Over on YouTube, BTS's "Butter" holds the record for the most views within the first 24 hours and the biggest YouTube premiere in history.
In addition to "Butter," another notable factor for the development of HYBE, formerly Big Hit Entertainment, is the rapid growth of Weverse.
Weverse is a fan community platform that hosts some of the top celebrities in South Korea and international countries, with BLACKPINK being the latest artist to join.
HYBE's uptrend is reflected in its stock price. This 2021 alone, BTS's agency is showing an incredible rise of more than 98%.
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Although HYBE is yet to reach the 52-week high (350,000 won), it is expected that it will only be a matter of time to surpass the 300,000 won that was recorded in June 2021.
An expert shared that with regards to online concerts, BTS alone is accounted for 65% of the total number of visitors and 71% of sales in the market share.
BTS Takes First Three Places on Oricon Weekly Streaming Chart
In other news, BTS grabbed the first three spots on the Oricon Streaming Chart for the week of July 12 to 18.
Sitting at No. 1 is BTS's "Permission to Dance," which accumulated 21,430,094 streams.
Following the digital single "Dynamite," the original Japanese song "Film Out," and "Butter," "Permission to Dance" becomes BTS's fourth No. 1 song on the Oricon Weekly Streaming Chart.
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BTS's "Butter" came in second on this week's tally. It gained 14,846,308 streams over the past week.
"Butter" grabbed the No. 1 spot on the Oricon Streaming Chart for eight consecutive weeks before climbing down to No. 2 this week.
BTS's "Butter" constantly exceeded 10 million weekly streams since it debuted on the Oricon Chart in the week ending on May 23.
And in third place is BTS's "Dynamite," which is up by three steps from the previous week. From July 12 to 18, this song gathered 7,145,285 total streams.
BTS's "Permission to Dance" ranked second on the list of biggest streams in the history of the Oricon Weekly Streaming Chart (21.4 million streams).
The all-time No. 1 is "Butter," which recorded the most weekly streams: 31,133,352 on June 7.
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Written by Mhaliya Scott
