What is the secret to the success of the South Korean boy band BTS, the idols that the whole world is infatuated with? It is probably very difficult today to find a group or even a single singer who would have had such an impact on the entire global music industry with such lightning speed and such a drastic effect. What is the secret of the South Korean boy band?
The status of BTS, who recently climbed the Billboard 200 and Hot 100, has gone beyond the success of just a K-pop or idol group. Psy’s “Gangnam Style” was made possible by his popularity in Korea, but BTS’ success model is completely different from that. He received recognition abroad, not domestically, and in the provinces, not in the metropolis, and stunned fans around the world with a new marketing method that was not done by major agencies.
Behind the success of BTS, in addition to the sincere passion and energy of the members, was their own strategy, which received strong fan support, which was able to expand its value as a platform.
BTS won the Top Social Artist Award at the Billboard Music Awards for the second year in a row, ranked #1 on the Billboard Hot 200, #1 on Google Trends worldwide, and has 100 million views with 15 million followers on Twitter. There are over thirteen songs in the music video alone.
It won’t be an exaggeration to say that BTS is writing a new history of K-pop. Many experts define the secret of BTS’s success as “sincerity” that others have missed. And they say they should focus more on their invisible “efforts.” The members of BTS were known as potential winners even before their debut and they still have the same mindset even now that they have become world-class stars. But is it really possible to achieve success only by hard work? Passion and energy with sincerity are also important.
Above all, it is an important success factor that is difficult to achieve. However, if you just understand the secret of BTS’s success on a superficial and principled level, such as sincerity and effort, this is not the right decision. Moreover, if you want to use their success model for business, you need to analyze the facts and results of BTS from a business perspective, and not take a superficial approach such as “sincere” or “effort.”
In addition, in today’s pop market, online platforms such as YouTube and Twitter, which distribute information about artists and distribute themes, as well as platform users, play a very large role. In fact, BTS didn’t get much attention when they debuted in 2013, but around 2015, they became seriously known overseas through the distribution of content on YouTube, cementing their status as global idols.
In modern society, personal editing technologies have evolved, the number of smartphones and network devices has increased, and industries such as social networks and content services have grown huge. In addition, the secondary content market is growing rapidly as millennials, referred to as digital natives, enter society in earnest.
Collectively, “a market in which fans are directly involved” has grown. This business trend can be seen as a “consumer revolution”.
Thus, the most important success factor for a platform company is identifying and focusing on “target customers” in order to activate the platform and climb into the demand cycle. In particular, aspiring managers who have recently started their own business should take a look at the success secret and business principles of BTS.