BigHit Music (HYBE)
BTS has launched a race with pop legends over tour records, bringing ‘BTSnomics’ into full swing.
These days, the hottest topic in the global music market is ‘BTSnomics’ (BTSnomics). BTS is creating a global economic phenomenon following Taylor Swift’s ‘Taylornomics’ (Taylornomics). Attention is focused on their disruptive influence as they step beyond K-pop to compete on records with legendary pop stars.
Reuters projected that the total revenue of the BTS WORLD TOUR ‘ARIRANG’ will reach about $1.8 billion (approximately 2.7 trillion KRW). It explained, “A figure comparable to Taylor Swift’s ‘The Eras Tour’ and Coldplay’s ‘Music of the Spheres World Tour’, which have posted the highest revenues in history.” This reflects an analysis that Pollstar’s 2023 figure of $1.04 billion (approximately 1.5 trillion KRW) for Taylor Swift’s ‘The Eras Tour’ is on par with BTS’s tour in audience density and revenue scale.
In Mexico, an economic impact surpassing Taylor Swift’s is expected. According to the Mexico City Chamber of Commerce (Canaco), the four shows of ‘The Eras Tour’ in 2023 generated an economic impact of about 1.012 billion pesos (approximately $58.8 million). BTS is estimated to generate about 1.86 billion pesos (approximately $107.5 million) in economic impact with just three shows. This is about 83% higher than Taylor Swift’s record, underscoring BTS’s ticket power and the purchasing power of its global fandom.
BigHit Music (HYBE)
BTS’s visit to Mexico drew the spotlight of leading media outlets around the world. On the 6th (local time), Mexican President Claudia Sheinbaum announced at a press conference that she would exceptionally open the presidential palace balcony, a symbol of the downtown historic district, for BTS.
When they appeared on the balcony for about five minutes, an extraordinary scene unfolded as roughly 50,000 citizens filled the square. India’s leading daily ‘The Indian Express’ reported, “The balcony is a symbolic place where the president typically greets citizens during national events or on Independence Day. No international musician has ever stood there with a sitting president. BTS were the first to take that spot.”
Thailand’s daily ‘The Nation’ wrote, “It evoked 1960s Beatlemaniathink of when the Beatles appeared on the balcony of the St. George Hotel in Wellington, New Zealand, in 1964. It also recalled the iconic moments in the 1990s when the King of Pop, Michael Jackson, stepped onto hotel balconies during his world tours to wave to throngs of fans,” using examples of legendary artists. It shows that BTS are recreating the explosive influence that monumental pop stars in popular music history enjoyed at their peak.
U.S. music outlet Billboard and 24-hour news channel CNN likewise said, “BTS’s visit to the Mexican presidential palace is an unprecedented event that has already become an international sensation,” as they raced to cover the group’s stature. Beyond concert revenue, their presence is energizing lodging, tourism, and overall spending in the cities they visit, establishing itself as an economic phenomenon. Attention now turns to the economic impact and the new records that ‘BTSnomics’ will produce as they stand shoulder to shoulder with legendary pop stars.
