Hive “I’m going to make four groups debut”…BTS Suggesting an alternative to enlistment
Hive, the agency that decided to join the BTS, stressed that it will debut four teams as an alternative to falling sales.
Park Ji-won, CEO of Hive, announced a shareholder letter on the 17th and said, “We have been preparing for this for a long time in preparation for this situation to come someday,” adding, “In the short term, some members’ personal activities are scheduled until the first half of 2023, and BTSs will be able to join fans with various contents prepared in advance.”
“As BTS’s activities are limited, we fully understand that investors are concerned about whether Hive will continue to grow,” he said. “We are preparing a multi-label strategy to steadily produce music and artists and are taking various challenges by combining new technologies such as platform business and game business.”
As a specific strategy, Hive suggested ▲ debut of more than four teams next year, including Japan and the U.S. ▲ live streaming of fan platform Weverse ▲ new subscription service ▲ continuous update and publishing of “Inthe Sum with BTS” games ▲ Superton’s AI-based voice and singing synthesis technology.
In addition, sales of existing artists such as Seventeen, Tomorrow by Together, N.F.P., Le Seraphim, New Jeans, Zico, Fromis Nine, Justin Bieber, and Ariana Grande, excluding BTS, have more than tripled on average last year, leading to cooperation and competition among nine independent labels.
It is analyzed that the confirmation of BTS’s enlistment will adversely affect Hive’s stock price.
Hive has been reducing BTS’s dependence on sales due to business diversification, such as entering the game industry, but it is still high. Hive succeeded in lowering its dependence on BTS, which reached 80% at the time of listing, to 60%.
As uncertainties over BTS’s enlistment continued, the securities industry lowered Hive’s target stock price one after another. NH Investment & Securities has adjusted to 250,000 won, Samsung Securities to 210,000 won, and Hyundai Motor Securities to 210,000 won.