Korean media sources have expressed different opinions on how BTS’s two-year hiatus has affected the Kpop business, following the roughly three months since the group’s members enlisted in the military, which marked the start of the hiatus.
Anxieties in some Asian markets, especially China, are making people nervous about the future of the K-pop business, according to the report. In light of BTS’s temporary hiatus, some of their ARMYs (fans) may become disinterested and eventually cause a “Kpop crisis.”
Despite BTS’s inactivity, HYBE’s financial report shows that net profit in the third quarter of 2023 reached 98.6 billion won (73.3 million USD), an increase of 5.9% compared to the same time in 2022.
Members of BTS have largely taken credit for the expansion via their separate efforts. One of these was Suga’s World Tour D-DAY, which included 28 shows and became the highest-earning solo tour in Korean history with 57.2 million USD in revenue.
Sales of solo albums by BTS members, like “Face” by Jimin, “Layover” by V, and “Golden” by Jungkook, are also crucial to HYBE’s increasing profitability. In particular, Jungkook’s solo debut shot him to stardom and brought him one step closer to becoming a new-generation popstar, in addition to selling astronomical amounts of records.
Many doors have opened for Kpop artists like BTS to win international music awards because of their success. According to Cho Chu-yeol, Chairman of the Korea Music Copyright Association (KOMCA), the global impact of Kpop is good for both the music industry and Korea’s reputation.
The fact that V was named the Seoul Tourism Campaign’s Ambassador in 2023—a campaign that garnered more than 500 million views on YouTube—is proof of this.
Taehyung’s Seoul Edition23 Video Draws Praise with 560M Views #Taehyung #SeoulEdition23https://t.co/UsNUDQpAPL
— Pabaon News (@pabaon_news) February 21, 2024
Officials in the music industry are worried that Kpop’s appeal may wane due to BTS’s extended absence. Nevertheless, this forecast has ignited a range of divergent viewpoints. All things considered, Kpop is still going strong and growing. Notable groups such as BLACKPINK, SEVENTEEN, TWICE, etc., have played an integral role in numerous landmarks.
BLACKPINK has been going so strong as a girl group their songs have got so many millions in the last few months. BLACKPINK’s member Lia, Jennie and Jisoo have already launched their solo companies. But there is no news about Rose right now.
Notable organizations from the upcoming generation, such as NewJeans, Stray Kids, LE SSERAFIM, etc., are demonstrating promise for global breakthroughs.
Stray Kids member Hyunjin has been recently at the Versace FW24 show in Milan.
As a whole, K-pop is continuing to grow. It is anticipated that BTS members will return in June 2025 to restart group activities after completing their military service. Even if BTS is only here for a short time, those in the know think that K-pop may still keep growing internationally.
BTS Members’ Military Discharge Dates Revealed! Find Out Who Will Come First #BTShttps://t.co/k4HuxNF3X5
— Pabaon News (@pabaon_news) February 24, 2024
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