The Billboard Global Music Index dropped 3.5% with 16 of its 21 stocks in negative territory.
The K-pop juggernaut is in talks with strategic and financial partners exploring equity stakes, according to a new report.
The workers allegedly booked $173,000 on trades before news of the K-pop group’s break caused the company’s share price to fall 29%.
The agreement allows music by HYBE artists like BTS and TOMORROW X TOGETHER to stream on Tencent platforms.
The agreement allows music by HYBE artists like BTS and TOMORROW X TOGETHER to stream on Tencent platforms.
Share prices for HYBE, SM Entertainment, YG Entertainment and JYP Entertainment have increased by an average of 75% year to date.
Releases by Tomorrow x Together and Seventeen helped offset a sharp drop in concert revenue for the K-pop giant.
The next step in K-pop’s growth may lie not in music itself, but in exporting K-pop’s disciplined development, production and promotion model.
After losing its bid for a controlling stake in the K-pop agency to rival bidder Kakao, HYBE has struck a platform collaboration with its former target.
HYBE still owns an 8.8% stake in the competing K-pop company after Kakao purchased an additional 1.66 million of its shares.
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