It’s not in the millions…
TXT is having their most successful year yet. They’ve steadily climbed up in popularity and are now one of the most popular boy groups out there. The boys are currently on their Act: Sweet Mirage world tour, spanning Asia, the United States, and more.
Just how much are the boys taking home for their hard work? It was reported that they have managed to gross around USD $23.6 million for the 17 shows that they had sold out completely so far.
‘Act: Sweet Mirage’ Tour by @TXT_members has now grossed $23.6 million from 199,883 tickets sold in 17 shows reported. (100% Sold Out) pic.twitter.com/q8REN36pvu
— TXT Charts (@TXTChartData) May 24, 2023
Fans speculated that they would have taken home around USD $3.2 million per member.
so bighit artists take home 70% of their concert revenue* which means txt has made $16,100,000 as a team which divided by 5 is $3,220,000 each… https://t.co/TY3XR0Xplm
— aspen (@txtcvnt) May 24, 2023
But not all the money is pocketed by them! Some of this gross revenue goes to the promoters, and of course, it also has to cover the venue fees and any external and internal staff.
How concerts work is that rather than the artists being paid by gross revenue, the promoter signs a buy-out contract with the company, also known as an appearance or guarantee fee. The promoter then takes over any incurring costs, including flights, transport, accommodations, external staff fees, etc. The promoter then gets to bag the profits after the concert is over. Some buy-out contracts include a clause for incentives based on ticket sales, and some don’t.
In MOVES (BigHit Music) and TXT’s case, it has been known from previous data that the artist takes home 70% of the gains from overseas promotions, including concerts and tours. The boys will still stand to earn a hefty amount.
According to Money Today Korea, buy-out fees can go up to ₩80.0 million KRW (about $60,100 USD) to ₩100 million KRW (about $75,200 USD). This can be higher depending on the artist and venue capacity. Using that frame and the maximum of ₩100 million KRW (about $75,200 USD), the 17 shows would have generated USD $1,278,400 million. 70% of that amounts to USD $894,880. Divided amongst the five members, TXT probably took home USD $178,976 per person!
Keep in mind that the final amount is probably more than that, seeing as they managed to sell out every venue.