From the announcement of BTS on Tuesday, the fallout of K-POP Jaguar Note taking a break as members explore their solo career was instantly dramatic.
The stock price of HYBE, the group’s management team, plummeted 28% in just one day to 139,000 won ($ 108), the lowest price since it was released about two years ago, with a market price of $ 1.7 billion. It was below. Since then, stock prices have hardly moved.
The dramatic plunge emphasizes that South Korea’s best-selling boy band has become a strong stakeholder in the Korean economy as well as a cultural sensation.
Since the group’s debut in 2013, BTS has made billions of dollars through album sales, concert tickets and social media.The 20th largest YouTube channel in the world alone is up to $ 2 million Moon. By 2020, the group had donated $ 3.5 billion annually to the country’s economy. Institute of Contemporary Art..
Even during the pandemic that devastated the live concert industry, BTS increased HYBE’s revenue by 58%, according to the company’s year-end report in 2021. 1.3 trillion won Last year it was close to US $ 1 billion.
According to the report, the group’s financial contribution to the South Korean economy was expected to grow only when the pandemic restrictions were relaxed. Korea Institute of Culture and TourismThis predicted that one BTS concert could generate more than $ 500 million.
When the group posted a video announcement, the news of the group’s planned outage confused the Internet, with more than 16 million views in two days. Fans of the group, who call themselves the Army, flocked to social media complaining of distress, expressing support for the news.
“Thank you for your beautiful music, your love and happiness for us, our home and enlightening our lives,” said a Twitter user. Post.. “We support you. We are always here for you. We are waiting. Army Forever. We love you.”
Fans were particularly confused by the term “pause” used in the English translation of the original video. South Korean press reports quickly linked the announcement to the fact that Jin, the oldest member of the group, needs to impose military service obligations by the end of this year.
Speculation about the possibility of the dissolution of the group led to a rapid setback of statements by the label and the group members themselves.
News organization report The group wasn’t taking breaks, but the members of that group were pivoting to focus more on their individual careers. According to the statement, the group “continues to work in a variety of different forms.”
Group leader RM posted on a social media site Weverse Many people said on Thursday that they sent him a message, assuming the group was disbanded.
“I didn’t expect this, or forgot that this could happen, but I still feel bitter,” he said, and his intentions were for the group over the last decade. It was to communicate openly with the fans about the reflection of, and did not announce it. The group was disbanded.
Jung Kook, the youngest member of BTS, Live video stream On thursday. “We are not thinking of breaking up,” he said, adding that BTS still had plans to implement it in the future.
Announced on Tuesday videoMembers gathered around the table, constantly unleashing and talking frankly about the intense pressures they faced to deliver, eventually leading to their decision to temporarily pursue a solo career. ..
“I felt like I was trapped and stuck,” Namjun said. He explained that the K-POP idol felt he was always in the limelight because he didn’t leave much room for personal growth.