BTS is a giant economic force. After the 'hiatus' announcement its label HYBE was deeply affected. This was the financial damage.
BTS is not just the most popular K-Pop group in ge world. The singers of "Yet To Come" are also one of the most important music acts in the global industry. The group has already topped the most relevant charts and is one of the best-selling artists all over the world.
"Proof", the first anthology album of the group, was recently released. In just a few hours the group demonstrated how powerful they are selling millions on the first day. Bangtan's popularity is not a joke!
During the dinner FESTA 2022, the member opened up about the pressure of being so famous. They decided to focus for a time on their own careers. This announcement was misunderstood as a hiatus or dibandingannouncement. Immediately HYBE Labels was economically affected.
HYBE Labels' price in the market was affected after BTS 'hiatus' announcement
After the recent news about BTS plans, HYBE Labels' stock price fell by more than 20% in the market. The company lost 1.7 billion dollars from its previous price in just one day.
Before the announcement, HYBE shares of the stock were trading at $22 765 (USA dollars). On June 15th the price per share was $11 228 dollars. According to Korean specialists, it is the lowest level for the label since its debut in October 2020.
After the members shared the future plans for the group, HYBE talked about the issue to clarify that BTS is not stopping its group activities but giving more space for their individual schedules.
As you may know, HYBE is a big entertainment group that includes various labels: BIGHIT, PLEDIS Entertainment and SOURCE Music. The agency can go back to the previous stock price when the members -and other groups- release upcoming projects.
What do you think about it?
BTS members also have talked about the situation. This is what Jungkook said about the 'hiatus'.