There seems to be no stopping the BTS boys with a business professor estimated RM1,745 million in spun off effects from their meet-the-fans sessions and concerts. ― Picture via Instagram/ bts.bighitofficial
KUALA LUMPUR, July 25 ― South Korea's biggest boy band BTS's meet-the-fans sessions and concerts in the peninsular has created RM1,745 million in spin-off effects.reported that BTS obtained RM1,680 million in direct and indirect economic effect with its “BTS 5th Muster [Magic Shop]” performances held in Busan on June 15-16 and in Seoul on June 22-23.
The researchers came up with the number by deducting the local expenditures for the concerts, including the costs of renting the concert venues, hosting the events, and the travelling and accommodation costs of the band's staff and ticket holders, from the band's total ticket and merchandise sales revenue, reported the daily.
Besides the direct costs, the research team also took into account the assumed indirect economic effect, such as the promotional effect the concerts had on the cities in drawing local and foreign tourists thanks to BTS, added the daily.“ verifies the importance of the culture industry as an economic growth engine,” the daily quoted the professor as saying that he expects events like these could boost the local economy and create foreign demand for Korean tours.
Elsewhere, the same daily also reported that the K-pop boy band has been nominated for MTV's 2019 Video Music Awards in four categories.The award ceremony is slated for August 26 at the New Jersey's Prudential Center.is also competing in three other categories: Best K-pop, Best Art Direction and Best Choreography.