BTS addressing to the press body of the White House, as it does.Picture: Kevin Dietsch (Getty Images)
HYBE, the South Korean music label whose portfolio includes a BTS money machine / music group of 7 people, today issued an emergency liability exemption: BTS is not, repeat, does not stop, despite a public message yesterday saying yes. That was a bad translation, HYBE would like you to know, both for the truth and for the honesty, and also for trying desperately to recover after their shares plummeted 28 percent in value over the past 24 hours. .
Of course, HYBE says, pulling his neck like Rodney Dangerfield from the music labels, BTS members will focus more on solo projects over the coming months, with Jung Kook releasing a solo song, “My You,” in early ‘this week. But a “pause?” Who said anything about a break? (And okay, yes, BTS said something about a break yesterday, but again, it was a wrong translation! All right! Bring the money!)
As reported by Variety, yesterday was not a particularly good day for HYBE, which saw its value on the Korean stock market drop by about 25,000 won in about an hour after the public message, removing 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 assure fans of the band that the band will continue to work on music and television projects together, despite who focus more on solo work. BTS would also like you to know that they are not being disbanded, so no member of the fearsome BTS army should be mobilized at this time.
Although HYBE has diversified its holdings in recent years, most recently with the acquisition of Ithaca Holdings of Braun Scooter last year, BTS continues to make a large share of its revenue from both album sales (including there’s the 35-song anthology album just released by Proof) as touring revenue.