HYBE announced its upcoming “Super Idols” release during BTS’ 3-year military hiatus to soothe concerned shareholders
Popular idol BTS, which is shaking the world, will halt their activities as a group for the time being.
On Oct 17th, BTS’s agency announced, “Jin (31) will apply for the cancellation of his enlistment postponement at the end of this month and will follow according to the enlistment process of the Military Manpower Administration.”
Depending on the agency’s position, Suga (30), J-Hope (29), RM (29), Jimin (28), V (28), and Jungkook (26) are expected to join the military sequentially, starting with their oldest member Jin.
As BTS, the representative idol of Big Hit Music, officially announced their “military hiatus,” shareholders’ concerns are growing.
Accordingly, Park Ji-won, CEO of HYBE, announced a shareholder letter on the same day and suggested an alternative to the falling sales.
He stressed that he would debut 4 teams to fill BTS’s gap.
“We have been preparing for this situation for a long time, knowing that this day is to come someday,” said Park Ji-won, CEO of HYBE. “In the short term, some members’ personal activities are already scheduled until the first half of 2023, and BTS will meet their fans with various contents prepared in advance.”
“We are preparing a structure that can steadily produce music and artists through a multi-label strategy, and we are taking various challenges by combining new technologies such as platform business and game business.”
CEO Park
In the meantime, he said that HYBE will debut more than four teams next year through K-pop production methods in Japan and the United States other than Korea.
It also said it is preparing to create a “new subscription service” and “live streaming service for the fan platform Weverse”.
CEO Park also mentioned SEVENTEEN, TOMORROW X TOGETHER, ENHYPEN., LE SSERAFIM, NewJeans, and Zico, saying that there are many other growing stars in the agency besides BTS.
In fact, HYBE’s dependence on BTS is still very high.
It is analyzed that CEO Park has started to deal with the situation quickly as the announcement of BTS’s enlistment is likely to adversely affect HYBE’s stock price.
Meanwhile, BTS recently held the concert “Yet To Come in BUSAN” at Busan Asiad Main Stadium in Yeonje-gu, Busan on Oct 15th and had fun with 50,000 audiences offline.
This was a free performance held by BTS to bid for the hosting of the 2030 Busan World Expo.
BTS, which brought fans from all over the world to Busan, performed enthusiastically as if they had poured their soul into the concert after a long time.
Ahead of the encore stage, Jin drew attention by surprisingly announcing his solo debut.
Jin said, “My album is coming out after J-Hope. Just because it’s called an album doesn’t mean it’s something grand. I simply had the chance to work with someone I really like, so I will release a song. I recently filmed a lot of things and there are many things planned to be filmed in the future, so I hope you enjoy it,” he said, raising fans’ expectations.
Source: Insight
