The next step for K-pop companies is diversification
LAST week, shares of South Korean entertainment company Hybe Corporation suffered a US$1.7 billion rout after members of Korean pop sensation BTS – managed by Hybe – said they would halt group activities while they focused on individual projects for a while.
Hybe shares fell 28 per cent to an all-time low of 139,000 won (S$148) on Jun 15. They closed Wednesday (Jun 22) at 139,500 won, down 48.3 per cent from 270,000 won – the company’s opening price when it listed in 2020.
The market's reaction is understandable. Hybe manages several K-pop groups and has acquired various companies in recent years, but BTS still contributed 84.7 per cent to its revenue in 2020. No breakdown was given for 2021.
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Columns
‘Competition for talent’ a poor excuse to keep key executives’ pay under wraps
OCBC should put its properties into a Reit and distribute the trust’s units to shareholders
Why a stronger US dollar is dangerous
An overstimulated US economy is asking for trouble
Too many property agents? Cap commissions on home sales
Time to study broadening of private market access