K-Pop titans Park Jin-young and Bang Si-hyuk share stories of hit songs, royalties, and BTS’s remarkable journey on ‘Yoo Quiz on the Block'”
- By: Nat.O
- 4 weeks ago
In “Yoo Quiz on the Block,” HYBE (formerly Big Hit Entertainment) CEO Bang Si-hyuk and JYP CEO Park Jin-young appeared in a special episode titled “Fateful Encounter.”
On this particular episode, Bang Si-hyuk and Park Jin-young appeared on “Yoo Quiz On The Block.” Host Yoo Jae-suk began by introducing the respective companies. Yoo Jae-suk humorously compared their corporate values by saying, “As of today, JYP’s market capitalization is 1 trillion 839 billion KRW, while JYP itself is worth 429.5 billion KRW.” Park Jin-young playfully introduced himself, saying, “Park Jin-young, from JYP Entertainment.”
Bang Si-hyuk then shared a backstory about their nicknames. He mentioned how he used to work as a producer in Park Jin-young’s company. When he decided to venture out on his own, Park Jin-young nicknamed him “Hitman” because he thought Bang Si-hyuk could create hits. From this “Hitman” nickname, “Big Hit Entertainment” was born.
Yoo Jae-suk was intrigued and asked whether “Hitman” was the original nickname. Park Jin-young explained that he was concerned that having “Bang” (as in Bang Si-hyuk) in his name might not have a big impact when selling CDs in the United States. So, he playfully added “Hitman Bang” to make it more impactful. He further revealed that Bang Si-hyuk went along with it because he was quite innocent and easily persuaded at the time.
Interestingly, during the show, Yoo Jae-suk brought up a lesser-known fact about Park Jin-young and Bang Si-hyuk, mentioning that they composed songs for the KBS logo and Homeplus commercial theme songs. He was curious about how much they earned in royalties for these songs. Park Jin-young shared that it was quite substantial and a significant part of his income.
Then, the conversation turned to who among them had earned the most from royalties. Park Jin-young stated that the most significant income came from recent songs by groups like TWICE. He mentioned a conversation he had with Bang Si-hyuk in the past, where Bang Si-hyuk emphasized how in the United States, if one song becomes a hit, it could generate billions of KRW. He added that the prediction had indeed come true.
When asked about his royalty income, Bang Si-hyuk surprisingly admitted that he had never actually looked into it and didn’t know the details.
Later, the show’s co-host, Jo Se-ho, brought up the estimated net worth of Bang Si-hyuk, which Forbes had estimated at around $3.854 billion. Park Jin-young’s estimated net worth was around 521.8 billion KRW. Amusingly, Jo Se-ho also playfully mentioned that Yoo Jae-suk had 100 billion KRW.
These discussions continued, and Bang Si-hyuk revealed that when he was starting Big Hit Entertainment, he went through a challenging period. At one point, it seemed as if he might have to give up on his dreams due to financial difficulties. However, he couldn’t abandon the talented members of BTS, who had worked hard and were determined to succeed. Despite the enormous debt they faced, he was driven by a sense of responsibility and saw the potential in these members with their exceptional talents.
Bang Si-hyuk believed in the talent of the seven members of BTS and saw the possibilities in their skills. He didn’t consider BTS a failure from the beginning, emphasizing that they received various awards and recognition right from their debut year.
Yoo Jae-suk asked Bang Si-hyuk if he ever realized how popular BTS would become. Bang Si-hyuk shared an anecdote from 2014 when BTS performed at a K-pop concert in Los Angeles. The LA Times wrote a special article about BTS, which indicated that Bang Si-hyuk had a feeling they were something special. He recalled that many people at the time didn’t fully appreciate BTS, but he believed in their potential. At one point, right before BTS’s breakthrough, he had decided to step back from direct involvement in the management, thinking that it would be better for the company.
However, Park Jin-young remembered a different side of the story. He mentioned that he attended an awards show and saw BTS perform without Bang Si-hyuk. He was genuinely happy for the group and considered them to be like family. While they might not think of him that way, he considered himself to be like an uncle to them. Bang Si-hyuk playfully agreed and said he could see himself as an uncle to the group.
Towards the end of the show, Bang Si-hyuk discussed the challenges he faced in the early days of Big Hit Entertainment. He admitted that they almost had to shut down the company. The debt was accumulating, and even Big Hit’s vice president had said it was impossible for them to pay it off. Still, Bang Si-hyuk believed in the members and their talents and couldn’t give up on them. This faith in their potential ultimately paid off when BTS achieved massive success with their album “The Most Beautiful Moment in Life” in 2015.
The episode featured candid conversations about their personal and professional journeys, offering valuable insights into the entertainment industry and the development of K-pop, as well as the challenges and successes faced by these two influential figures in the industry.