Ghost Mail Weekender

Happy Sunday Voornaam,

As we come to you after yet another successful weekend for the Springboks in an epic clash, this edition of Ghost Mail Weekender is all about music. The way in which a classic by The Cranberries has been... adapted from an anti-war song into a love letter to Rassie Erasmus is a reminder of how music is the great unifier of people - even when it upsets the Irish, thereby unifying them once more.
For our resident ghost, this was a big week for music. His all-time favourite band Linkin Park announced a new lead singer in the form of Emily Armstrong, seven years after iconic frontman Chester Bennington tragically took his own life and drove conversations around depression for a generation of fans. With the purple spectre drowning in a mix of nostalgia and excitement for the new album, it was purely a coincidence that music was also on the mind of Dominique Olivier this week.
Humans absolutely love latching onto niche interests and forming communities around them. Music is no different, which is part of why it's so important to all of us. In a 2013 survey, University of Vienna students in Austria were asked their reasons behind choosing to study Finnish. Astonishingly, 97% of respondents indicated that the main factor behind their decision was a love for Finnish heavy metal music. Helsinki-based Centre for International Mobility Secretary General Marjut Vehkanen described this result as “somewhat surprising”.
Finland has a reputation for producing popular heavy metal bands, with Stratovarius, Children of Bodom, Lordi, Nightwish and HIM being among the most followed. It’s worth noting that all of the aforementioned bands sing in English though, so presumably these devoted metal fans are learning Finnish in anticipation of backstage meet-and-greets, not for the purposes of analysing lyrics.
In other music-related stories in this edition, Dominique has written on South Korean boyband BTS and the incredible story of not just their contribution to that economy, but how it all came to an abrupt end for military service. In the fast facts at the bottom of this mailer, you'll also find a few music nuggets for your next dinner party conversation.
It's not all about the music this week. In her weekly column, Dominique tells the story of how Julius Caesar was captured by pirates and used it as a perfect opportunity to increase his importance. Not only does this teach us something about Veblen goods, but it perhaps also explains some of the exceptionally cringeworthy content that you'll find on LinkedIn. Either way, it's a great story and you'll find it here>>>
You still have a small window of opportunity to register for the Money Summit on 10 September 2024 at the Sandton Convention Centre. The event promises a vast array of speakers and 100 masterclasses. As a Ghost Mail reader, you get to attend for free provided you register with the code GHOST. If this sounds like something that will interest you, go register your attendance on their website and remember to use the code!

Enjoy the rest of your Sunday!
The Finance Ghost (follow on X) | Dominique Olivier (connect on LinkedIn)

Know your worth: Julius Caesar and the Veblen Effect

From ARMY to army

TL;DR: At the height of their popularity, South Korean boyband BTS were contributing over $5 billion annually to South Korea's economy. Then, they were forced to put their careers on hold in order to enlist in mandatory military service.
If you feel like you haven't heard a BTS hit on the radio lately, you aren’t alone - and there's a good reason for that. Here’s a reminder of who we’re talking about.
Since June 2022, the boyband has been on a planned hiatus in order for their seven members to fulfil South Korea's mandatory military service. In all likelihood, the band will only be able to make new music again in 2025, when the last member’s conscription ends.
With one of the world's largest active armies, South Korea requires all able-bodied men aged 18 to 28 to serve for 18-21 months. The question of whether BTS members deserved to receive exemptions from this military service sparked furious public debate in South Korea for years, owing to the band’s immense cultural and economic contributions.
Exemptions do exist, but they are traditionally granted to exceptionally talented sportspeople and classical musicians. Eventually, the government made a slight adjustment to their policy, shifting the upper limit of the conscription age to 30 instead of 28 - essentially giving the BTS crew two more years of music making before they were expected to sign up for service. Perhaps they should've learnt the violin instead?
In 2018, the Hyundai Research Institute estimated that BTS contributed over $3.6 billion annually to South Korea's economy, along with generating $1.1 billion in consumer goods exports each year. Researchers also found that one in every 13 tourists visiting Korea - a total of 800,000 visitors annually - was drawn by BTS! According to NPR, BTS's total contribution to Korea's economy is roughly $5 billion per year, which would be about 0.3% of the entire economy based on recent GDP figures.
Fortune analysts projected that if BTS maintained their popularity achieved from 2013 to 2022, the group would have added a staggering $29.4 billion to South Korea's economy during their hiatus years.
While BTS's massive popularity suggests a strong likelihood of their comeback, their fans (ironically called the BTS ARMY - you can’t make this stuff up) can't help but worry, especially considering the fate of other megahit groups like BigBang, ONF, and SF9, where military enlistment marked the end of their respective journeys. As for the South Korean government - well, one has to wonder whether that $5 billion hole in their next budget was worth seven new military recruits?
Ghost note: when boybands were literally the only thing on radio in my late primary school years, it's a great pity that we didn't see more conscription.

Dominique's fast facts: Let the music play

An assortment of facts that will take you only a minute to read.

Metallica is the only band on earth that has played on all 7 continents - including Antarctica. In 2013, the band performed for 120 scientists and a handful of competition winners in a see-through dome at Carlini Station in Antarctica.

Freddie Mercury's famous overbite was the result of him having four extra teeth in his upper jaw. He refused to get them removed because he feared the surgery would affect his voice and vocal range.

PETA once asked the Pet Shop Boys to change their name to Rescue Shelter Boys. Unsurprisingly, that request was denied.

The lead singer of the death metal band Hatebeak is an African Gray parrot named Waldo. Remember what we said about niche tastes?

An Australian study found that rock stars live on average 25 years less than ordinary people.

Only three music companies are responsible for over 80% of the music you listen to: Sony BMG, Warner Music Group, and Universal Music Group.