The Strategist

BTS band’s agency loses $1.7bn after boy band split



06/17/2022 - 10:28



Following the revelation that members of the boy band have opted to temporarily cease performing as part of the group in order to focus on separate careers, shares in South Korean music agency Hybe have dropped, according to Bloomberg.



Jinho Jung
Jinho Jung
Losses from the dip in Hybe's stock on news of the band's impending split are projected to be $1.7 billion, according to Bloomberg. The stock price of the music agency has dropped by 28 percent since it initially went public in October 2020. Hybe's profits might be down 33% by the end of the year if one of the agency's most recognized bands does not restart performance operations, according to Yuanta Securities Korea Co.

In a video posted to the boyband's official YouTube page on June 14, members of BTS declared their intention to take a break from performing together and focus on separate projects. At the time of publishing, the hour-long film, which also marks the South Korean band's ninth anniversary, had 15 million views.

BTS is on their third creative hiatus in their career. Last year, the artists announced that they would be taking a "second formal lengthy break" to spend time with their families and prepare for future concerts.

source: bloomberg.com

 




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