News Analysis India

Tag: Band

  • BTS ‘hiatus’ spurs 28 per cent drop in HYBE stock, company says word was mistranslated

    By IANS

    SEOUL: Korean music company HYBE, which represents K-pop superband BTS, lost $1.7 billion of market value within the first hour of stock trading on Wednesday (June 15) following the band’s hiatus announcement.

    On Tuesday, June 14, the seven group members announced that they are going on a hiatus — via a translator — to pursue solo work, which almost instantaneously knocked HYBE shares in South Korean trade down by nearly 28 per cent, reports ‘Variety’.

    HYBE shares had fallen by just about 25,000 won on Wednesday morning and continued to drop throughout the day, wiping out $1.7 billion of market capitalisation.

    Within the first hour of trading, the shares surged slightly from their starting point of 140,000 won to 145,500 won. The company is currently headed for its lowest close since it went public in 2020.

    However, on Wednesday HYBE released a statement backpedaling on the use of the word “hiatus.” The group had spoken in Korean in their video announcement and the word “hiatus” was used in English subtitles. “BTS are not taking a hiatus. Members will be focusing more on solo projects at this time,” the statement said.

    ALSO READ | K-pop megastars BTS on ‘hiatus’, here’s all we know

    Additionally, BTS’ Jung Kook went live on the V Live app and clarified the misunderstandings further saying via a translator that the band would be working on solo projects, but that doesn’t mean that they will stop working as a team. He also reiterated that BTS are not disbanding — as they insisted during the announcement — just taking a new direction in planning, as they will continue shooting their “Run BTS” web series on the V Live app.

    The clarification came shortly after Jung Kook dropped a solo single dedicated to the group’s fan ‘Army’ called ‘My You’, reports ‘Variety’.

    In the nine years since their debut, BTS made up 27 per cent of HYBE’s US album sales and streams, additionally making up nearly all of the company’s touring income. According to HYBE’s 2021 fourth-quarter earnings report, BTS drove a 980.5 per cent (yoy) increase in concert sales, earning the company approximately 49.7 billion won ($42,000,000). The majority of those earnings came from BTS’ ‘Permission to Dance’ concerts in Los Angeles.

    In 2021, HYBE acquired Ithaca Holdings from Scooter Braun which expanded the company from its BTS-driven revenue and took up 45 per cent of the South Korean company’s US album sales.

    BTS also recently released their 35-track anthology album ‘Proof’ (Big Hit/Geffen) which is now projected to debut with the year’s second-biggest sales of the year, following Harry Styles’ ‘Harry’s House’.

  • India’s first K-pop artist Sriya: Honoured to represent country at global platform

    By PTI

    BHUBANESHWAR: After months of arduous training and auditions, 18-year-old Sriya Lenka has made history by becoming the fifth member of the popular South Korean band Blackswan, a dream come true feeling that the young artist describes as “priceless.”

    Lenka, who hails from the steel city of Rourkela in the Sundargarh district of western Odisha, was selected for the band last week alongside Gabriela Dalcin from Brazil.

    They both will join original band members Youngheun, Fatou, Judy and Leia. “I never imagined that my dream would come true so soon. It was so precious to be selected because that moment changed the course of my life. I feel so proud and honoured to represent my country on such a big global platform,” Lenka told PTI in a Zoom interview from Seoul.

    Lenka and Dalcin were selected for the band after participating in a six-month-long global audition process, which was announced by DR Music last year after band member Hyeme left the girl group.

    The duo never expected that they would get to be in the band together as there was only one spot initially. “At first, we only knew that it was only one spot, so we needed to work really hard,” Lenka said.

    She acknowledged that it was hard to compete with Dalcin as they became best friends. “We live together, we eat together and we practice together. She is like my family member because we only had each other at that time. ”

    ALSO READ: India’s first K-pop artist Sriya Lenka becomes member of the South Korean band Blackswan

    A trained dancer, Lenka was introduced to K-pop by a friend a few years ago and found herself getting intrigued by the choreography in the music videos. She was instantly hooked to K-pop’s “unique style” of singing and dancing.

    In 2020, when she saw K-pop record labels open online auditions due to the Covid-19 pandemic, she decided to give it a shot.

    “But I never imagined I would make it so big. Never expected that so many celebrities will post about me, I’ll become the most searched on Google in 24 hours and get covered by so many media organisations,” the young artist said.

    Lenka and Dalcin’s training started in December in Seoul, but staying away from friends and family in a different culture was not easy initially. A lot has changed in the months that followed.

    She now considers Gimbap, which is made of rice, vegetables and meat, rolled into a dried seaweed sheet, among her favourite dishes. Lenka is also struck by the K-drama fever and counts “Mr Queen”, a time-traveling historical drama, as one of her favourite shows.

    Becoming a K-pop member entails long training in every aspect and Lenka had to learn the Korean language, dance, sing, rap and develop strong core strengths.

    The singer said all this could only be possible because of the support of her family and her father, who was the first one to teach her acrobatics and dance.

    “He always used to tell me about my mistakes. He supported me a lot,” she said, adding that she misses her family and hopes to meet them soon.”  “My father always said that believe in your dreams and yourself because even if there are bad times, good times will come for sure,” Lenka said.

  • 100 people will be able to attend wedding ceremony in UP, band and DJ will be banned

    In view of the increasing cases of corona in Uttar Pradesh, the government has decided to again increase the limit of 100 people who attend wedding and other social functions.

    The UP government has released a new guideline for wedding ceremonies. According to this, only 100 people can attend the wedding ceremony. Also, there will be a ban on bands and DJs at the wedding.

    According to the guidelines, if the marriage house has a capacity of 100, then only 50 people will be involved in the program to be held there. Violation of this new rule will be prosecuted. The elderly, the sick will not be invited to the wedding. Violation of the Kovid Protocol will take action under Sections 144 and 188. However, the matter of relief is that if there is a marriage at home, then no permission will have to be obtained from the district administration. But information about the wedding ceremony will have to be given in the concerned police station.

    The new rules regarding the limited number of people in the wedding ceremony were initially implemented in Noida-Ghaziabad. The Chief Secretary has asked to review it and implement it. It will be strictly implemented after the meeting in important districts.

    In Lucknow district too, the District Magistrate will hold a review meeting to implement the new guideline. Due to increasing infection cases in Delhi adjoining Noida-Ghaziabad, this rule has already been implemented. It has been said that wherever the situation is serious in the state, these rules can be implemented.

    Significantly, the state government had allowed 200 guests to attend the wedding and other ceremonies on October 15 with proper security protocols, but the state government is trying to control the affairs in view of the rise in cases of Kovid again. .