Just hours ago, the Twitterverse was jounced by the unprecedented yet exciting news coming from the Weverse account:
HYBE released a concert themed “New Era”, The first “Weverse Con” will be held on December 31, 5.30 PM (KST), featuring Korea’s biggest names such as BUMZU, Dvwn, ENHYPEN, fromis_9, Lee Hyun, SEVENTEEN, TXT, and the one and only, Grammy-winning pop sensation, Justin Bieber. Meaning to celebrate the ending struggle for both musicians and fans’ parted connection during the desperate times of the global pandemic, “New Era” confidently creates a platform for a new music paradigm in the upcoming years. HYBE explained, “We plan to develop this into a global event where various artists, including the artists on Weverse, can participate in the future concerts, creating a festival that is jointly hosted by Weverse, a global fan community platform where artists and fans from all over the world can communicate.”
Both K-pop and non-Kpop fans were crazed by this huge announcement, rapidly generating a trending topic with ridiculously funny tweets as such:
Just imagining if JB can pull off an all-yellow outfit like Butter:
We are all shooketh:
Your all-time favorite before and after debut collage:
This will never not be funny:
For those of you who might ask, “Why is he here?” because it seems super random, let’s just refresh our memory and give a breakdown of how this happens.
HYBE Went Public
In September 2020, HYBE (formerly known as Big Hit Entertainment) Chairman and founder, Bang Si-Hyuk released 478,695 common shares, costing $115 each, of the agency to each BTS member before the company went public. BTS’ continuous brilliance heightened its success, bringing each member’s stake valued at about $53 million.
HYBE’s $1.05 billion purchase of Scooter Braun’s Ithaca Holdings in 2020 abled them to share cooperation in managing Ariana Grande and Justin Bieber. “The inevitable joining of HYBE and Ithaca Holdings marks the start of a new adventure no one could have possibly imagined. The two companies will work closely together leveraging our proven track records of success, know-how, and expertise to create synergy, transcend borders and break down cultural barriers. Please look forward to the endless possibilities of HYBE and Ithaca Holdings, and the new paradigm the partnership will establish in the music industry.” Said Bang Si-Hyuk.
The merging of both companies enclosed a variety of services including label services, management, and publishing for a combined roster such as BTS, TXT, SEVENTEEN, Justin Bieber, Ariana Grande, J Balvin, Demi Lovato, Thomas Rhett, Florida Georgia Line, Lady A and many more.
After the company went public, HYBE’s stock has drastically changed numbers ever since. The shares dropped in the last months of 2020, before elevating a new rally from late January 2021, reaching a new high point in mid-February of 52% above the IPO price of KRW135,000 — a market capitalization of KRW7.29 ($6.4 billion).
HYBE and Weverse’s merging will eventually be made official in the first half of 2022. On that note, Weverse and HYBE collaborated to create high-quality settings in the “Weverse Con” where fans all around the world will be able to interact live with each talent.
Unfortunately, we have to endure our pain to not see BTS perform in the “Weverse Con”. It’s claimed that the group will have a second hiatus to ‘recharge’ themselves in the upcoming album and concert in Korea. The Grammy-nominated artists had kept themselves busy this year with appearances in American Music Awards (AMAs), The Late Late Night Show with James Corden, and a series of performances entitled Permission to Dance on Stage.