BTS addresses the White House press office as it does Photo: Kevin Ditch (Getty Images)
HYBE, the South Korean music label whose portfolio includes a 7-person money machine / BTS band, issued an emergency disclaimer today: BTS is not, I repeat, no interruption, despite a public announcement yesterday saying they were. This was a mistranslation, HYBE would like you to know, both in the interests of truth and honesty and in the interests of desperate attempts to recover after its shares fell about 28 percent in the last 24 hours.
Of course, HYBE grants, pulling his collar like Rodney Dangerfield from music labels, will make BTS members focus more on solo projects in the coming months, with Jung Kook releasing a solo track “My You” earlier this week. But “pause?” Who said something to interrupt? (And, well, yes, BTS said something about the interruption yesterday, but, again, that was a wrong translation! It’s all right! Return the money!)
According to Variety, yesterday was not a good day for HYBE, whose value on the Korean Stock Exchange fell by about 25,000 won within an hour of the public announcement, wiping out about $ 1.7 billion of its market capitalization.
In addition to HYBE’s statement, Jung Kook himself went live on the V Live video streaming app today to reassure fans of the band that the band will continue to work together on music and TV projects, even when they put more focus on solo work. . The BTS would also like to know that they are not disbanding at all, so none of the members of the terrible BTS army should be mobilized at this time.
Although HYBE has diversified its holdings in recent years – most recently with the acquisition of Scooter Braun’s Ithaca Holdings last year – BTS remains a huge part of its revenue from both album sales (including the recently released 35-song anthology album Proof) and and tour revenue.
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