The COVID-19 pandemic has affected people around the world in various ways, but we’re all in this together.
Like Jin said during BTS’s speech at the UN General Assembly, “We must cherish the importance of ‘me,’ ‘you’ and ‘us’.” BTS is putting these words into practice by using their star power to help businesses pull through the pandemic.
When signing on as advertisement models, BTS adjusts their guarantee (fee) in proportion to the size of the company they are advertising for, the type of product they are selling, brand awareness, and the time it takes to film the advertisements.
According to a report by Edaily, BTS and their agency Big Hit Entertainment have been quietly lowering their fees for months now. As some of the most sought-after brand models in the world, BTS charges between $2.5 million to $4.3 million for a one year contract, but those fees have reportedly dropped by at least 20%.
This is welcome news for advertisers. The COVID-19 pandemic has changed how people spend money, which in turn has taken a toll on businesses. One representative from a large advertising company told Edaily, “The advertising market is in a difficult situation because of COVID-19, so the fact that BTS, the most favored models, have lowered their fees is wonderful news.”
A representative from another company praised BTS for leading by example.
Isn’t the way that BTS lowered their guarantees to give small and medium-sized businesses the courage to live together in this period just like what they talked about in their speech at the UN General Assembly?
BTS is currently working as brand models for several companies, including Lotte Chilsung, Baskin Robbins, FILA, Samsung, and Hyundai. In particular, Body Friend (a healthcare brand that has never been represented by an idol model) is experiencing the “BTS effect”. Since BTS signed on as brand models, Bodyfriend massage chairs have racked up a staggering 57.6 billion won in sales.
Like BTS says, “Life goes on. Let’s live on.”