HYBE, the hitmaker behind international smash phenom BTS, revealed Thursday that it’s looking for its subsequent huge factor: A U.S.-based pop girl group.
The South Korean juggernaut stated the brand new group can be developed like these of the notoriously robust K-pop industrial complicated, which has a repute for producing star singer-dancers—dubbed “idols”—by the handfuls, all educated with almost immaculate precision in each efficiency and public picture. HYBE is now holding worldwide digital auditions for potential members, who can submit their bids through an official website.
The girl group, which can ultimately debut in Los Angeles, is the brainchild of a three way partnership between HYBE and Common Music Group. The 2 leisure giants, based on reverse sides of the planet, have been orbiting nearer and nearer for years now; in October, UMG landed a serious licensing and distribution cope with HYBE for its flagship boy band BTS (these rights beforehand belonged to UMG’s competitor Sony Music). BTS might be thought-about K-pop’s biggest supernova: It’s the primary such group to debut a No. 1 album on the U.S. Billboard 100, the primary to carry out on the American Music Awards, and the primary to snag a Grammy nomination. Their YouTube channel has over 60 million subscribers, scores greater than breakout chart-topper Billie Eilish and greater than double that of beloved rapper Drake.
This new partnership sees HYBE collaborating with UMG’s Geffen Data, whose historic roster contains iconic artists like Nirvana, Weapons N’ Roses, and Weezer. It additionally marks the primary time a U.S. file label and a K-pop firm have joined forces to create a brand new performer, thus furthering K-pop’s ascent within the mainstream world, which had to date been largely powered by BTS.
Common Music Group, which had a banner public debut on Amsterdam’s Euronext inventory market in September, noticed a slight improve in share worth as of noon Thursday.
HYBE, in the meantime, launched its quarterly earnings Thursday, reporting that income skyrocketed almost 80% year-over-year. Between July and September, it hauled in roughly $288 million USD. That was principally pushed by a 40% year-over-year rise in its “artist indirect-involvement” enterprise, which makes use of artists’ names and likenesses for promoting and branding. It was additionally bolstered by new income from album drops and superstar appearances, that are accelerating after pandemic slowdowns.
HYBE additionally unveiled future tasks to leverage its artists’ mental property throughout myriad mediums, together with net novels, blockchain know-how, and a online game co-engineered with BTS band members set to launch in early 2022.