HYBE’s CEO Addressed Investors Concerns After BTS’s Enlistment News, Revealed Plans For The Upcoming Year
BTS just announced that they will be enlisting for their mandatory military service, starting this year with Jin. HYBE’s CEO Park Jiwon gave an investor briefing on October 17, KST, announcing the company’s future plans while the members complete their military duties.
Talking about BTS’s future activities, Park revealed that they have solo schedules planned up to the first half of 2023. In the letter, he mentioned that with BTS on board, the company had recorded over 90% sales growth per year in the past five years. But the restriction on their activities poses no threat to HYBE’s future since the company is prepared to sail through the situation.
We have always been aware of the eventuality of mandatory military service, and we have long been making preparations to be ready for this moment. In the short term, individual activities for several of the members are planned into the first half of 2023, and we have secured content in advance, which will enable BTS to continue their engagement with fans for the foreseeable future.
Park also discussed the company’s plan for the next year, which will focus on debuting new groups and further strengthening the other artists under its different labels. In 2023, HYBE is going to debut at least four new groups. They will target the local markets of Japan and the U.S. by debuting artists through the trademark K-Pop system.
HYBE will also continue with its multiple-format content strategy to offer new experiences to fans by incorporating innovative technologies in the form of games and other platforms. The company is currently developing a subscription-based system for fans to interact with artists. With the recently acquired tech company, Supertone, HYBE is also hopeful to create fresh content and service for fans by incorporating Supertone’s AI-based speaking and singing vocal synthesis technology.
