BTS' agency shares reportedly plunge after group announces solo plans

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Hybe Co, the agency managing K-pop boyband BTS, saw its shares plunge as much as 27% after the band said its members will focus on solo projects for a while. According to Bloomberg, the recent dip marked the lowest close on record since Hybe began trading in October 2020. The agency's stock is down nearly 60% so far in 2022.

The members talked about this during dinner recently while celebrating their ninth year anniversary. They had just released their anthology album "Proof" last week. Among the list of topics discussed included the pandemic disrupting their tour plans and music releases, as well as their individual goals and hobbies. While BTS spoke in Korean, the word "hiatus" was used a few times in the English subtitles. Hybe has since clarified that BTS is not taking a hiatus and instead, the members will be focusing more on solo projects at this time, AP reported.

Nonetheless, the members talked about going solo and J-Hope said in the video that he has already started on his solo preparations, adding that BTS' stance on solo promotions and music is "going to change a lot now". "I think that change is what we need now. It's an important part for BTS to start out the second chapter," he added.

Meanwhile, the group's leader RM said that the team will be officially showing their individual colours albeit being a little late since they have been around for nearly a decade. "That's the kind of change we'll be having going through. I feel this is the right place to mention it. It will sound too formal in articles and I can't just announce on Instagram that we are going solo," RM explained. J-Hope then added that this is definitely a time the group needs that change.

Although the video premiered only 13 hours ago, it now has nine million views on YouTube, 1.5 million likes and 78,813 comments. The members added that time apart would be healthy for the group and encouraged fans to not view this as a negative development.

Since BTS shot to fame, the group has been involved in several brand collaborations, from Samsung, Coway, Hyundai, and Fila, to Coca-Cola, Louis Vuitton and Garena's Free Fire game. McDonald's even created a BTS meal last year and was initially supposed to be a US-only activation, similar to meal executions done with other music industry stars such as Travis Scott and J. Balvin in 2020 as part of the "Famous Orders" campaign. However, Eugene Lee, regional director of marketing, Asia, told MARKETING-INTERACTIVE previously that given the boyband's global popularity, especially in Asia, it would have been "a huge opportunity missed" if Asia was left out of the activation.

BTS even visited the White House earlier this month, sitting with US president Joe Biden to discuss issues including diversity. During the 35-minute meeting, both parties had a conversation on anti-Asian hate crimes and Asian inclusion, and spoke about the president's visit to South Korea.

Despite being adored, BTS also previously copped flak after its leader, RM, made a controversial speech which was deemed insensitive by some netizens two years ago. When receiving the General James A. Van Fleet award, an award given to Koreans or Americans in recognition of their outstanding contributions to US- Korea relations, RM touched on the subject of the 1950 Korean War, which involved North and South Korea, the US, and China.

He previously said that The Korea Society's 2020 annual gala is "especially meaningful" as this year marks the 70th anniversary of the Korean War. "We will always remember the history of pain that our two nations share together, and the sacrifices of countless men and women," he added.

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