In case you missed the sizzling announcement from BIG Hit Music on October 17, BTS confirmed their future participation in Korean military services. Starting with Jin, the BTS members will start enlisting by the end of 2022.
But before formally entering the military doors, Jin will release his solo single this October. Expectedly, BTS is to reconvene by 2025.
Considering the average length of military service in South Korea, the public expressed their curiosity and inquiry on how HYBE Labels will recalibrate in the future to sustain business shareholders and keep the fans busy, despite the physical absence of the group members.
Analysts' Thoughts & Predictions
HYBE Labels is the parental agency overseeing renowned K-pop groups such as BTS, SEVENTEEN, TXT, ENHYPEN, LE SSERAFIM, fromis_9, and NewJeans. In an international sense, HYBE is also affiliated with Justin Bieber and Ariana Grande.
READ MORE: HYBE or SM Entertainment? Know Which Agency Gained the Most Album Sales in 2021
In 2021, research analysts shared their predictions on how the enlistment of BTS will produce adverse effects on the price stock of HYBE.
However, these analysts also stated that with BTS's unbeaten popularity and influence, the group would not experience any difficulty bouncing back after their enlistment services.
HYBE CEO Lays Out Plans
On October 17, 2022, Park Jiwon, CEO of HYBE Labels, addressed these inquiries through a released letter that comprehensively outlined the label's next steps after BTS members' enlistment.
The CEO penned that the agency has been preparing for this situation for an observed period already. He mentioned that individual pursuits for each member are already plotted and are expected to be consumed until the first half of the year 2023.
Additionally, HYBE Labels are prepared with "secured contents."
This action by HYBE Labels is in line with the prediction of Analyst Yoo Sung-man in 2021, who projected that during the military service of BTS, pre-made content would be released to maintain engagement with the fans.
Next, Park mentioned that the agency acknowledges the "autonomy" of the nine labels under HYBE, therefore, will provide them with an extensive array of music and entertainment opportunities to mold "mutual cooperation" and "healthy competition."
In line with the constant dedication and persistence to generate music and shape world-class artists, HYBE Labels sets to debut four groups in Japan and United States. These mysterious groups are reported to adopt "K-pop production methods."
Congruent again with the ideas of analysts, it is commendable how HYBE Labels is persistent in promoting other groups during BTS' absence.
CEO Park also said:
"We have planned a multi-label strategy that allows us to consistently produce music and artists. We are also taking on various challenges with new technologies, such as platform business and game business."
Exploring other facets of the business, HYBE Labels leverages technology by adding "live streaming functions" to WeVerse application (in partnership with Naver V Live), reviving new subscription services, and dedicating updates and expansion to In the Seom with BTS.
Optimistically, HYBE Labels are pioneering efforts and initiatives which they see as an essential building block in connecting with the fans, honing talents, and cultivating music and culture. Ultimately, with dynamicity, modernization, and technology convergence, HYBE could maintain its industry dominance and influence.
Before concluding his letter, the CEO expressed his gratitude and appreciation to the company's investors who have and will continue to journey along HYBE, despite the uncertainties ahead.
What are your thoughts regarding HYBE's plans? You may share them below.
READ MORE: Annual Salaries of Employees From 'BIG 4' Entertainment HYBE, SM, JYP, YG Revealed
KpopStarz owns this article.
Written by Sophia Carson.
