Recently, the music company HYBE issued a statement regarding the hiatus of BTS after they lost about $1.7 billion of market value, down nearly 28%, on Wednesday. Read on to know what did the company have to say.
BTS company HYBE is speaking out
On Wednesday, the music company HYBE which is behind the South-Korean boyband BTS issued a statement regarding their hiatus announcement which happened via a video and clarified that there has been a mistranslation and confusion due to the use of the word ‘hiatus’ in the English subtitles.
As per Variety, the company’s statement read, “BTS are not taking a hiatus. Members will be focusing more on solo projects at this time.”
Soon afterward, BTS member Jungkook also went live on the V Live app and clarified that the band would be working on solo projects, but that does not mean that they will stop working together. He affirmed that they are not disbanding, they are just heading in different directions at this moment.
BTS announced hiatus to pursue solo projects earlier this week
The boyband BTS revealed that they were taking a break to explore solo projects during their recent FESTA dinner. In the video, RM stated that as a group they have achieved so much, that the members needed to take some time apart to grow as individuals.
RM said, “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. You have to keep producing music and keep doing something.”
Jimin further 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.”
The fans’ reaction to HYBE’s statement on BTS
One user wrote, “I feel like the company released this statement about BTS not going on a hiatus to prevent Hybe’s stock from taking a dive. The guys were very transparent with us during their dinner. Hybe shouldn’t insult our intelligence.”
I feel like the company released this statement about BTS not going on a hiatus to prevent Hybe's stock from taking a dive.
The guys were very transparent with us during their dinner. Hybe shouldn't insult our intelligence.
— JungKook's Second Wife (@Jungkook2ndWife) June 14, 2022
Another user tweeted, “With HYBE frantically trying to emphasize that BTS is NOT taking a group hiatus and will focus on solo activities as well as future group activities, makes me wonder how hard of a hit HYBE took in stock valuation today.”
With HYBE frantically trying to emphasize that BTS is NOT taking a group hiatus and will focus on solo activities as well as future group activities, makes me wonder how hard of a hit HYBE took in stock valuation today.
— Tiffany Vogt (@TVWatchtower) June 14, 2022
Followed by a user who penned, “that hybe statement is the same thing the tannies said. like we knew they were gonna keep doing group stuff (run bts) bc they said it. and hybe is probably only trying emphasize it’s not a hiatus so that they don’t get lumped in with others since they are remaining a group.”
that hybe statement is the same thing the tannies said. like we knew they were gonna keep doing group stuff (run bts) bc they said it. and hybe is probably only trying emphasize it’s not a hiatus so that they don’t get lumped in with others since they are remaining a group.
— 💿 BEYONCÉ IS COMING⁷ 06.10 (@sailorjoonnn) June 14, 2022
One user tweeted, “Thanks to the hybe editors who made us think that BTS are going on hiatus. As it was just an error in translation so army don’t worry they are not going on hiatus revealed by the bunny-baby.”
Thanks to the hybe editors who made us think that BTS are going on hiatus. As it was just an error in translation so army don’t worry they are not going on hiatus revealed by the bunny-baby
— Siyaisnoob (@ShambhaviRoy12) June 16, 2022
Another user wrote, “people who own hybe’s stock began to sell their shares in panic after bts’ festa dinner went public because they aren’t confident the company can create profit if bts is on hiatus. jk coming to vlive assuring that they won’t suspend group activities removed their concerns.”
people who own hybe’s stock began to sell their shares in panic after bts’ festa dinner went public because they aren’t confident the company can create profit if bts is on hiatus. jk coming to vlive assuring that they won’t suspend group activities removed their concerns
— elsa (@demiejjk) June 16, 2022
These were a few reactions of the fans to HYBE’s statement about BTS taking a break. Don’t forget to stay tuned with us for the latest updates from the world of showbiz.
