There is a new term dominating the global music market. As we all know, it is “BTSnomics,” driven by the global pop stars BTS. BTS is creating a global economic phenomenon that follows in the footsteps of Taylor Swift’s “Taylornomics.”
The British news agency Reuters recently projected that the total revenue for the “BTS WORLD TOUR ‘ARIRANG’” will reach approximately $1.8 billion (about 2.7 trillion KRW). Reuters explained that this figure is “comparable to the record-breaking ‘The Eras Tour’ by Taylor Swift and Coldplay’s ‘Music of the Spheres World Tour’.” This follows an analysis by the US performance media Pollstar in 2023, which noted that the audience density and revenue scale of the BTS tour are on par with Taylor Swift’s “The Eras Tour,” which earned $1.04 billion (about 1.5 trillion KRW) in one year.
In Mexico, the economic impact is expected to even surpass that of Taylor Swift. According to the Mexico City Chamber of Commerce (Canaco), the four shows of “The Eras Tour” in 2023 generated an economic effect of about 1.012 billion pesos (approx. $58.8 million). In contrast, BTS is estimated to generate about 1.86 billion pesos (approx. $107 million) with just three shows. This figure is about 83% higher than Taylor Swift’s record, showcasing the incredible ticket power of BTS.
BTS’s visit to Mexico has been a huge topic of conversation. On the 6th (local time), Mexican President Claudia Sheinbaum announced during a press conference that the balcony of the National Palace, a symbol of the city’s historic center, would be opened specifically for BTS. When the group appeared on the balcony for about five minutes, around 50,000 citizens filled the square.
Regarding this, the Indian daily ‘The Indian Express’ expressed amazement at the group’s influence, reporting, “The balcony is a symbolic place primarily used by the President to greet citizens during national events or Independence Day. No international musician has ever stood there with a sitting president. BTS is the first to do so.”
Specifically, the Thai daily ‘The Nation’ compared BTS to past legends, stating, “It reminded us of the Beatlemania of the 1960s, specifically when The Beatles appeared on the balcony of the St. George Hotel in Wellington, New Zealand, in 1964. It also echoed the iconic moments in the 1990s when the King of Pop, Michael Jackson, waved to countless fans from hotel balconies during his world tours.”
US outlets Billboard and CNN also highlighted the event, noting that “BTS’s visit to the Mexican National Palace is an unprecedented event that has already sparked international attention.” As they travel the globe, they boost local spending on accommodation and tourism. Standing alongside legendary artists like The Beatles, Michael Jackson, and Taylor Swift, BTS is expected to generate an economic effect through “BTSnomics” that may soon be impossible to even estimate.
