BTS DENY they’re splitting after ‘hiatus’ announcement wiped 34% of label’s market cap


K-Pop sensations BTS DENY they’re splitting just one day after their announcement of ‘hiatus’ to pursue solo projects wiped 34% of record label’s market cap

  • BTS sent its millions of fans and investors at their label into a frenzy after the announcement Tuesday during their annual FESTA dinner 
  • Speaking in Korean and with English subtitles in the celebration of the band’s nine years together, bandmate RM said it was time for them to work on their own 
  • But the popular South Korean band’s management debunked those reports on Wednesday, saying the message had been lost in translation 
  • The ‘mistranslation’ affected more than broken-hearted BTS fans. Their label, HYBE, reported its shares plunged 25%, wiping $1.7 billion off its market value 

K-Pop icons BTS have denied they’re splitting just one day after announcing a ‘hiatus’ that has since wiped 34 per cent off their record label’s market cap. 

The South Korean band now insist Tuesday’s statement got ‘lost in translation’, after apparently saying they were taking a break to pursue solo projects. 

While bandmates will pursue solo projects, they will remain an active group for the foreseeable future, it has been claimed. 

According to TMZ, BTS backpedaled and sparked rumors they’ve been enticed to stay together after their announcement sent shares in record label HYBE plunging by 34 per cent. That wiped close to two billion off the firm’s market cap. 

The massively successful band, which has a famously huge and hysterical fan base, triggered the frenzy after the announcement Tuesday during their annual FESTA dinner.  

Speaking in Korean and with English subtitles in the celebration of the band’s nine years together, bandmember RM said it was time for them to work on their own and announced are on ‘temporary hiatus.’ 

But music fans have heard the ‘temporary hiatus’ line from other bands in the past, and fear its a way of gently breaking news of a split to fans. 

BTS sent its millions of fans and investors at their label into a frenzy after the announcement Tuesday during their annual FESTA dinner, which celebrated their nine years together

BTS sent its millions of fans and investors at their label into a frenzy after the announcement Tuesday during their annual FESTA dinner, which celebrated their nine years together 

But the popular South Korean band's management debunked those reports on Wednesday, saying the message had been lost in translation

While bandmates will pursue solo projects, they will remain an active group for the foreseeable future, they said

But the popular South Korean band’s management debunked those reports on Wednesday, saying the message had been lost in translation.  While bandmates will pursue solo projects, they will remain an active group for the foreseeable future, they said

Their label, HYBE, reported its shares plunged 25%, wiping nearly $1.7 billion off its market value

Their label, HYBE, reported its shares plunged 25%, wiping nearly $1.7 billion off its market value

On Tuesday, the popular South Korean band shared that they are on ‘temporary hiatus.

Members Jungkook, 24, Jin, 29, RM, 27, V, 26, Suga, 29, J-Hope, 28, and Jimin, 26, broke down in tears during the Festa video as they talked taking time off to ‘grow.’ 

V said during the video: ‘J-Hope told me this before, we could focus on our solo work this time, and later, when we gather as a group, that synergy was like no other.’ 

On the South Korean live streaming app VLive Wednesday, bandmate Jungkook reportedly addressed the ‘misunderstanding’ on video. 

Official English captions have not been added to the one-hour-long streaming video.

A BTS representative told Rolling Stone that the group will not be disbanding, but some members will pursue their own projects. 

The representative also told the outlet that BTS will be shooting a video for ‘Run BTS’ in the upcoming months.   

Tuesday’s unexpected announcement fueled anger among investors in HYBE. 

‘They’ve planted ‘dynamite’ in the hearts of shareholders,’ one wrote on a Samsung Securities stock trading platform, referring to one of the group’s hit songs.

HYBE shares had performed relatively poorly in recent months, and the company’s chief executive and some BTS members unloaded stock totaling $10 billion won in December.

‘I always thought that BTS was different from other groups, but the problem with K-pop and the whole idol system is that they don’t give you time to mature,’ RM said on the FESTA video. 

‘You have to keep producing music and keep doing something.’ 

And Jimin added, ‘We can’t help but think of our fans no matter what, we want to be the kind of artists that are remembered by our fans. 

‘I think now we’re starting to think about what kind of artists we each want to be remembered by our fans.’

‘I think that’s why we’re going through a rough patch right now, we’re trying to find our identity and that’s an exhausting and long process.’ 

V insisted this it wasn’t a split adding that they will get back together ‘later when we gather again as a group that synergy will be like no other.’

J-Hope then said, ‘I think we should spend some time apart to learn how to be one again. I hope you don’t see this as a negative thing, and see it as a healthy plan. I think BTS will become stronger that way.’

SUGA then piped up: ‘It’s not like we’re disbanding!’

Saying goodbye to their old life... for now: Things will not be the same, but they will get back together down the road

So many tears: Many of the band members had to wipe tears away at the dinner

So much emotion: Several of the band members cried and tried to comfort each other and cracked the occasional smile

After the video was shared, V shared a note with Weverse.

‘For the last ten years, we never stopped looking up towards what awaited us…Now, this is just the beginning, the first footsteps we are taking to ensure that we remain together as Bangtan for a long time.’

‘He added, ‘The purple string that ties ARMY and Bangtan together is strong, and will not ever break.’

Individual members already have plenty of going on by themselves: Jung Kook released a solo single Sunday, called My You.

And J-Hope has been announced as a headliner of Chicago’s Lollapalooza festival in July. Suga has released solo mixtapes in previous years. 

BTS is a South Korean boy band that was formed in 2010 and debuted in 2013. They are also known as the Bangtan Boys. 

In December 2021, they said they needed some down time to recharge. And they also took a mini break in 2019.

US visit: BTS was seen at a White House press briefing with White House Press Secretary Karine Jean-Pierre in May in Washington, DC

US visit: BTS was seen at a White House press briefing with White House Press Secretary Karine Jean-Pierre in May in Washington, DC

In 2021, the group’s management company Big Hit Music said in a statement: ‘We would like to inform you that BTS is planning to take a second official extended period of rest since their first in 2019. BTS stayed active in order to engage with fans in 2020 and 2021 amidst the Covid-19 situation, and achieved dazzling results to cement themselves as top global artists.’

In 2019 it was also announced the band needed some time.

‘This period of rest will be an opportunity for the members of BTS, who have relentlessly driven themselves towards their goal since their debut, to recharge and prepare to present themselves anew as musicians and creators,’ it was shared at the time.

‘This will also provide them with a chance to enjoy the ordinary lives of young people in their 20s, albeit briefly.’

New tune: Earlier this month they released released the music video for Yet To Come (The Most Beautiful Moment) from their compilation album Proof. Seen in April

New tune: Earlier this month they released released the music video for Yet To Come (The Most Beautiful Moment) from their compilation album Proof. Seen in April

On Friday, the group released its latest album Proof, a compilation pairing some of their biggest hits with rarities and unreleased songs.

Accompany the new hits package was a video for the newly released single Yet To Come (The Most Beautiful Moment), which features the members in a serene desert setting. 

The cover for BTS’ new album features the group’s logo, two trapezoid’s shaped like half-open doors, though they were flanked by several more abstract white shapes against an all-black background.

‘The BTS anthology album that embodies the history of BTS will be released as they begin a new chapter as an artist that has been active for nine years to look back on their endeavors,’ read a statement released by BTS’ management group Big Hit Music last month.

‘The anthology album Proof that consists of three CDs includes many different tracks — including three all-new tracks — that reflect the thoughts and ideas of the members on the past, present and future of BTS,’ it concluded.

The septet previously hinted at the album’s release date at its Las Vegas residency shows in April.

 

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