Mapping Global Creative Value Chain for K-Pop Idol Industry: The Case of the BTS (2018-2020)
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Abstract
Global creative industries have significantly expanded in recent years, particularly with the global rise of the K-Pop. However, there is less work on creative industries analysis from a global value chain perspective. In 2020, Big Hit Entertainment, the management label of the Bangtan Boys (BTS), reported a half-year profit of $41.9 million as online concerts and merchandise sales more than offset event cancellations during the pandemic COVID -19. While there has been much research on the rise of the South Korean creative industry, less attention has been paid to the transnational nature of its production network. Using BTS as a single case study, this paper attempts to construct a global creative value chain (GCVC) mapping. This paper treats official content published by Big Hit Entertainment (2018-2020) as our primary data to present two essential findings. First, GCVC has a mechanism compared to a more traditional manufacturing GVC (e.g., electronics, automotive) regarding three key elements (i.e., input-output, geographic scope, and governance structure). Second, ICT advancement supports the flexibility of the global creative value chain because the global creative value chain's main product is creative content.
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