BTS Is 10 Years Old: Seoul Landmarks to Be Lit up in Purple To Celebrate K-Pop Band’s Anniversary 

A model shows a sheet of postage stamps marking the 10th debut anniversary of K-pop band BTS at a post office in Seoul, South Korea, Monday, June 12, 2023. (AP)
A model shows a sheet of postage stamps marking the 10th debut anniversary of K-pop band BTS at a post office in Seoul, South Korea, Monday, June 12, 2023. (AP)
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BTS Is 10 Years Old: Seoul Landmarks to Be Lit up in Purple To Celebrate K-Pop Band’s Anniversary 

A model shows a sheet of postage stamps marking the 10th debut anniversary of K-pop band BTS at a post office in Seoul, South Korea, Monday, June 12, 2023. (AP)
A model shows a sheet of postage stamps marking the 10th debut anniversary of K-pop band BTS at a post office in Seoul, South Korea, Monday, June 12, 2023. (AP)

Skyscrapers, bridges and other landmarks in South Korea’s capital will be lit up in purple on Monday as the country begins celebrating the 10th anniversary of K-pop band BTS, whose global popularity is a source of national pride.

The lights will provide the backdrop for various social media-driven events marking the 2013 debut of the seven-member group, which is now taking a hiatus as its singers begin to serve their mandatory military duties.

From Monday evening, numerous Seoul structures, including City Hall, the 123-story Lotte World Tower, several Han River bridges, and the futuristic DDP – a Zaha Hadid-designed aluminum and concrete dome that’s often used for visual art – will be bathed in purple, a color associated with BTS, according to city officials and the group’s management company, Hybe.

Messages congratulating BTS were displayed on digital screens in buildings across Seoul, while postal authorities issued stamps marking the group’s anniversary, which will be available at post offices starting Tuesday.

Seoul officials hope that the celebrations, which will continue for around two weeks, will boost tourism. The city has designated more than a dozen sites associated with BTS, including places where the group held major performances or shot some of their famous videos.

Fireworks are planned at a park near the Han River on Saturday night, hours after one of the BTS singers, RM, holds a live talk with fans that will be broadcast online.

Quickly garnering huge followings in Asia following their debut, BTS' popularity expanded across the globe with their 2020 megahit “Dynamite,” the band’s first all-English song that made it the first K-pop act to top Billboard’s Hot 100. BTS has since performed in sold-out arenas around the world and was invited to speak at United Nations meetings, supported by a legion of global followers who call themselves the “Army.”

BTS’ activities as a full group are currently on hold as the artists begin to serve in the military. Two BTS singers – Jin and J-Hope – have already started their compulsory 18-month service and other members are to follow in coming months, which likely means the group will reconvene around 2025.

In South Korea, all able-bodied men are required to serve in uniform 18-21 months under a system meant to deter aggression from rival North Korea.



Netflix Beats Subscriber Targets, Cautions on Ad Growth

FILE PHOTO: The Netflix logo is seen on their office in Hollywood, Los Angeles, California, US July 16, 2018. REUTERS/Lucy Nicholson/File Photo
FILE PHOTO: The Netflix logo is seen on their office in Hollywood, Los Angeles, California, US July 16, 2018. REUTERS/Lucy Nicholson/File Photo
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Netflix Beats Subscriber Targets, Cautions on Ad Growth

FILE PHOTO: The Netflix logo is seen on their office in Hollywood, Los Angeles, California, US July 16, 2018. REUTERS/Lucy Nicholson/File Photo
FILE PHOTO: The Netflix logo is seen on their office in Hollywood, Los Angeles, California, US July 16, 2018. REUTERS/Lucy Nicholson/File Photo

Netflix said on Thursday it added more than 8 million subscribers in its second quarter as the streaming service benefited from a password-sharing crackdown and the popularity of such titles as "Bridgerton," "Baby Reindeer" and "The Roast of Tom Brady."
While the subscriber gains topped analyst predictions of 5 million, Netflix issued cautious guidance for the third quarter and said its advertising business would not become a primary driver of revenue growth until at least 2026, said Reuters.
Netflix shares reversed initial losses after it reported results to trade up 1% in after-hours trading. The stock has surged nearly a third so far this year.
"Netflix is still the best and most profitable streaming company out there, but with technology stocks generally retreating over the last several days, some investors may sell on the generally good news and taking profits now while waiting for a possible better re-entry point for the stock," said Michael Ashley Schulman, chief investment officer at Running Point Capital.
The streaming video pioneer is facing saturation in the United States and plans to stop regularly reporting new subscriber additions next year. Investors have been zeroing in on the company's relatively new advertising business as a potential source of growth.
On Thursday, Netflix said third-quarter subscriber gains would be lower than the comparable period in 2023 when it had just started the password clamp-down.
The company also said its vice president of ad sales, Peter Naylor, was departing.
Third Bridge analyst Jamie Lumley said Netflix's advertising business "has yet to prove itself from a revenue standpoint."
"Our experts highlight that Amazon has made a much bigger splash in the ad market and Netflix needs to continue working on scale in this segment if it wants to be a major player," Lumley said.
For April through June, Netflix posted diluted per-share earnings of $4.88, compared with consensus forecasts of $4.74 a share, according to LSEG. Revenue for the quarter reached $9.56 billion, in line with estimates.
At the end of June, the new sign-ups brought the total number of global Netflix subscribers to more than 277 million.
Netflix said its ad tier membership grew 34% from the prior quarter, but it did not say how many subscribers chose that option.
"Our ad business is growing nicely and is becoming a more meaningful contributor to our business," Netflix said in a letter to investors. "But building a business from scratch takes time - and coupled with the large size of our subscription revenue - we don't expect advertising to be a primary driver of our revenue growth in 2024 or 2025."
On a post-earnings video, Netflix Chief Financial Officer Spencer Neumann said the company's advertising business is "growing nicely," but it is building off a small base.
"It's a meaningful contributor," Neumann said. "And then we get (to) '26 and beyond, it can be even more meaningful, and hopefully comes to the point where it's a primary contributor."
The company said it expects third-quarter revenue growth of 14% compared with a year ago.
Three years into its videogame initiative, Netflix said it planned to release a multiplayer game based on "Squid Game" later this year when it debuts Season Two of the dystopian Korean series. It also plans games tied to "Emily in Paris" and "Selling Sunset."