Their performances, especially in Mexico, have become historic and economically notable.
They exert a powerful influence that spans culture and economy.
[TV Daily, Lee Ki-eun Reporter] BTS is redefining the music industry and creating a new economic trend known as 'BTSnomics.' They are emerging as a rival to Taylor Swift's economic phenomenon 'Taylornomics,' extending their impact beyond music into global economics.
Recently, Reuters reported that BTS's world tour 'BTS WORLD TOUR ‘ARIRANG’’ is projected to generate approximately $1.8 billion, or about 2.7 trillion KRW. This figure is comparable to Taylor Swift's 'The Eras Tour' and Coldplay's tours, showcasing how BTS concerts craft economic waves across the globe. Specifically, in Mexico, they are expected to generate an economic impact of $1.075 million from just three concerts, surpassing Taylor Swift's record by 83%, substantiating the thrilling fervor of their fan base.
BTS's visit to Mexico became a monumental event, highlighted by Claudia Sheinbaum, the President of Mexico, opening the presidential palace balcony for their presence, gathering around 50,000 citizens. This undoubtedly illustrates BTS's significant global influence, showcasing that their concerts impact not just the music scene but also the real economy and culture.
BTS has evolved from being just a music group to a full-fledged economic phenomenon. Their music and performances offer joy and inspiration to fans while also generating significant economic ripple effects. The concept of 'BTSnomics' illustrates how fandom culture can positively impact entire industries.
Furthermore, the influence of BTS's performances extends beyond music into substantial economic contributions to local communities. As a global star, they serve as catalysts for various industries, generating positive effects not only in tourism and hospitality but also in local businesses, enriching economic dynamics in each location.
This phenomenon is rooted in BTS's unique musical characteristics and their notable achievements. By fostering strong connections with their fans through sincere communication, they've developed a deeper bond that translates into concert success. Thus, BTS's influence is not merely an economic one; it permeates cultural spheres and creates multi-dimensional impacts on society as a whole.
This article is KOSTAR’s reinterpretation of a story originally reported by TVDaily.
Photo: TVDaily
