As BTS members pause full group activities due to military service, fans have become increasingly confused about the timing of their return as a full group. This confusion arose after a Q&A from HYBE’s third-quarter earnings conference call was misinterpreted.
On November 5, HYBE CFO Lee Kyung Jun responded to a question regarding projected revenue for 2026 during the company’s Q3 earnings conference call.
A reporter asked, “In 2026 - when BTS has fully returned and is touring - how much revenue contribution from BTS can we expect? Will it be over or under 50%?”
CFO Lee replied, “You asked about the expected revenue share if BTS resumes full-group activities. Currently, we’re in discussions with the members regarding their 2026 activities, so we don’t yet have a projection.”
The CFO added, “If they return as a full group, we expect significant revenue, but at the same time, with the growth of our other artists and new ventures, BTS’s revenue share may not be as high as in the past.”
However, only part of Lee Kyung Jun’s response—“We’re discussing 2026 activities with the members”—gained attention, leading fans to worry that full-group activities might still be uncertain even after the members complete their military service.
The question and answer specifically addressed BTS's contribution to HYBE’s 2026 revenue, making assumptions about a “full-group comeback timing” somewhat misplaced. Additionally, if BTS is expected to tour in 2026, a full-group album release would likely need to happen in the latter half of 2025. Since the question focused on 2026, there was no direct mention of activities in 2025, and the response about 2026 being “under discussion” left room for misinterpretation.
Industry insiders point out that both HYBE and BTS have previously indicated that a full-group return is likely in late 2025. The members also enlisted together as part of an effort to reunite sooner for their fans, making it unlikely that their full-group activities would be postponed beyond 2026.
In response to the growing confusion, BigHit Music, BTS’s label, told OSEN, “We are in close discussions with the artists regarding their post-service plans. Once specific details about timing and format are decided, we will inform fans at the appropriate time.”
Meanwhile, BTS renewed their contract with BigHit Music for the second time in September of last year. Having debuted in June 2013, BTS first renewed their contract early in 2018, with over a year still remaining.
Following the discharge of Jin and J-Hope, the group has expressed a desire to return to full-group activities once all members are discharged by 2025, leaving fans eagerly awaiting details on when and how their comeback will unfold.
Korean netizens responded:
"It seems like it would be better for each member to go their separate way. I was honestly never a fan of BTS, but looking at the situation, it seems especially beneficial for V to leave. There’s absolutely nothing to gain from staying with HYBE. Seeing how Jungkook missed the chance to perform at the Super Bowl, there’s no reason for him to stay either."
"Not only did they enlist quickly, but they even enlisted together, and instead of understanding the fans’ disappointment, HYBE went as far as to use terms like ‘solo stans’ struggle’ in their report, which was just chilling. Forget about the full group reunion; HYBE should focus on properly handling the fan base issues on platforms like DC Inside BTS Gallery. A company that cares more about perpetrators than victims is one that needs to be left. Like BLACKPINK, they could focus on solo activities and occasionally regroup for group promotions."
"Just let them go and pursue their separate paths now."
"It’s infuriating—why did they insist on enlisting them together? Leaving HYBE is the only answer."
"From reading the news, it really sounds like the future is uncertain, and HYBE doesn’t even seem to know what they’re saying anymore."
"I’m not interested in the full group activities, and I hope Jungkook and V can break free."
"It’s almost December, and they’re still ‘discussing’ next year’s plans? There must be some issues with the contract."
"Honestly, HYBE is the one who stands to lose here. BTS practically carries the company."
"With HYBE facing challenges, a BTS comeback or full-group activity is the only way to turn public opinion in their favor. If nothing’s been set yet, that’s a big problem. Their contracts expire next year, and the earliest the full group can reunite is June."
"I don't know why they are pushing so much for group activities ever since their debut. I also don't understand what the benefit of enlisting together was."
"If the label is incompetent, then it's correct for them to let the group go free."
"I saw this coming ever since HYBE said they would decrease their dependency on BTS since last year."
"Why did Jungkook enlist so early? He had so many opportunities for solo activities during his Prime Years."
"There's something definitely wrong with their contract renewal for 2026. That's why the CFO can't say anything about BTS's group activities in the future."
SHARE
