Is HYBE expanding its gaming business to prepare for BTS’ absence during enlistment era?
While many representatives have been discussing the fact that BTS members should be exempted from their mandatory military service due to their immense contribution to the nation, the seven-member boy group has no qualms about enlisting. Time and again the members of the boy group have claimed that they wish to enlist and will apply for their enlistment when the right time comes. Now that we are already in the year 2022, it will also be the end of BTS’ oldest member Jin’s 2-year extension from enlistment.
Back in 2020, South Korea had extended the age to enlist from 28 to 30 years because BTS’ Jin had just turned 28. Now as the boy group’s popularity transcends nations, South Koreans claim that it is time for the country to reward BTS members by granting them an exemption from military service. While the issue is still under a discussion and both Jin as well as the BTS label Big Hit Music, a subsidiary of HYBE, are still unsure about the decision of the National Defense Academy, the label is preparing in advance.
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HYBE expands its gaming business
It has been reported that HYBE is currently preparing to expand its gaming business to reduce its reliance on BTS’ economic contribution to the label. It is a well-known fact that HYBE, which was originally called Big Hit Entertainment, went from being a small label to now becoming the biggest label in South Korea, all thank’s to the contribution of BTS to their economy. Now that BTS approaches the time of its military enlistment era, HYBE is aiming to maintain its cash flow in the event of all seven members deciding to enlist together, as per the request of many fans.
It has been reported that with this expansion into the gaming world, HYBE thinks that this venture will help it sustain the company’s earnings in the absence of BTS. With that said, if BTS members enlist one by one, just like in the case of other boy groups, it is possible that BTS will not be complete for a long time. This also means that BTS’ popularity may possibly fade over time with the emergence of newer groups. This is why it is reported that HYBE is focussing on the development of the project and aims to start running it ahead of the BTS members’ enlistment.
South Korea’s NDA to take a final action about BTS’ enlistment
HYBE's planning could still prove beneficial even if BTS was exempted from the military which is why it is a win-win situation for the label. It was only recently stated that the South Korean National Defence Academy (NDA) was discussing a new exemption criterion for the megalomaniac boy group, BTS. It was also reported that officials believe, “BTS has led the country to become a first-class country leading the world in popular music, and now it is the country’s turn to respond back to these people.”
Despite this report, according to The Korea Economic Daily, HYBE has a separate unit for its gaming venture and has further expanded its portfolio to include the metaverse and non-fungible token (NFT) businesses in the future. It has also been rumored that HYBE is setting up an office in the US, where the label will move its game development and publishing business. Reports also allege that to facilitate this, HYBE is looking to secure a partnership deal with major game developers such as Netmarble Corp, NCSoft Corp, and Krafton Inc among others.