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HYBE reveals plans and future of BTS after announcing first quarter earnings

May 4, 2022

HYBE spoke about BTS’ future and plans after they announced their Q1 2022 sales figures. Though no one can deny the fame the group is enjoying today, a report sees a need for the music label to bolster Jungkook’s solo endeavors and its other members.

HYBE’s revenue for the first quarter of 2022 is estimated at KRW 285 billion or $226 million on a consolidated basis. This includes performance-related revenues of approximately KRW 61.3 billion or $48.6 million.

AllKpop noted that the company said the group’s journey has only just begun. Though it has no idea how far Jin, Suga, J-Hope, RM, Jimin, V, and Jungkook will go, it promises to see them through to the end.

HYBE CEO Park Ji Won then confirmed the boys’ return with a new album on June 10th. He added that working with BTS is a huge boon for the agency and they should never be taken for granted.

He revealed that he will focus on supporting the band so that it can expand unstoppably.

He then elaborated that the company is intentionally reducing its reliance on BTS because the group’s share of HYBE’s total revenue has fallen. BTS’ revenue share has been relatively reduced as other artists’ revenue in HYB has increased, Ji Won explained.

Meanwhile, reporter Lee Dong Hoon from the MOVIST website claimed that the company needs to step up Jungkook’s solo activities to continue the Korean Wave influence. He also praised the K-pop idol’s vocals and ability to compose songs after being recognized as a Japanese OST composer.

True to his word, the 24-year-old star has shown great talent after breaking multiple records with his solo songs. This proves that he deserves to get more chances and have more solo activities in the future.

First off, Jungkook has released a solo song, Stay Live, which debuted at number 95 on the US Billboard Hot 100 chart. It is the only OST sung by a Korean soloist to have sold 100,000 units just 80 days after its release.

His other solo song, My Time, debuted at #84 on the Billboard Hot 100, while Euphoria hit #5 on the 2018 Billboard Bubbling Under chart. Therefore, HYBE is recommended to focus on strengthening Jungkook’s solo activities, as well as the other BTS members.