How BTS Contributes Billions To The Korean Economy : Planet Money : The Indicator from Planet Money Korean boy band BTS is a global music phenomenon. The group has millions of fans called A.R.M.Y., who happily support the group with their wallets. Today on the show, we dive deep into the economic impacts of BTS and what makes the group special.

BTS: The Band That Moves The Economy

BTS: The Band That Moves The Economy

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Cindy Ord/Getty Images for SiriusXM
(Photo by Cindy Ord/Getty Images for SiriusXM)
Cindy Ord/Getty Images for SiriusXM

BTS is one of the most popular bands in the world. The group has charted multiple No.1 Hits on Billboard, performed in front of millions of people, won numerous awards and been a lucrative brand ambassador. The group of seven members is a tour de force in the music industry, with some comparing them to The Beatles.

According to the Hyundai Research Institute, BTS is bringing an estimated 5 billion dollars to the South Korean economy each year. The group is fueling interests in all things Korean - tourism, language, films, television, fashion, and food.

Journalist Tamar Herman notes that the group's success is not identical to that of previous K-pop groups. BTS is very active on social media, with tweets and videos that garner many millions of views and likes. The loyal fans, also known as A.R.M.Y., support the group with their voices and wallets. For example, over 1.3 million viewers paid to watch the group's recent online concert.

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