Big news in the BTS universe: the K-Pop group has announced plans for a hiatus. The announcement came in a YouTube ‘dinner party’ video, with the key quote coming from band member RM.
“The problem with K-Pop and the whole ‘idol’ system is that they don’t give you time to mature. You have to keep producing music and keep doing something. After I get up in the morning and get makeup done, there’s no time left for growth,” he said.
“We’re going through a rough patch right now. We’re trying to find our identity, and that’s an exhausting and long process,” added Jimin.
Yes, even BTS aren’t impervious to burnout, hence the hiatus. And hence also a big wobble for shares in public K-Pop companies: not just the one that BTS is signed to, Hybe (down 28%, knocking $1.7bn off its value) but also YG Entertainment. Hybe’s revenues grew by 58% to $1.04bn in 2021, followed by a strong Q1 2022.
While in the short term sales of BTS’s anthology album ‘Proof’ will give it a boost, investors will be watching closely to see how it plans to keep its wheels spinning during the band’s hiatus.