BTS fandom tech firm Weverse reaches beyond K-Pop - BusinessWorld Online

BTS performs during the 49th Annual American Music Awards at the Microsoft Theatre in Los Angeles, California, US, November 21. — REUTERS/MARIO ANZUONI

The K-Pop industry has revolved around loyalty and personal identification with the stars, making it a “recession-proof” business — revenue is driven by public response to artists’ activities, and upselling is possible, analysts said. The app also currently has more than 80 teams of artists represented including BTS, and about 8-9 million monthly active users. It also has a high number of repeat visitors and retention — peak daily active users can number about 6 million.

HYBE acquired Ithaca Holdings, representing Ariana Grande and Justin Bieber, in a $1.05 billion deal in 2021. “For example, we do commerce, but there is no seasonality… We have 80 teams of artists, and some of them are always doing something,” he said.

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