Is BTS' agency HYBE acquiring virtual K-pop boy group PLAVE? Here’s what we know so far

CEO of PLAVE’s agency finally comments on the rumor making rounds about HYBE acquiring the virtual K-pop group. Read on to know what he said.

Updated on May 08, 2024  |  04:25 PM IST |  78.8K
PLAVE: Image from VAST Entertainment
PLAVE: Image from VAST Entertainment

PLAVE is a virtual K-pop boy band, which was created by VAST Entertainment in 2023. Comprised of five members, the group rose to becoming a trendsetter in the realm of K-pop, debuting virtual artists. Despite some initial setbacks, recently PLAVE has witnessed a surge in its popularity. 

CEO of PLAVE's agency reacts to rumor about HYBE's acquisition

Recently, a rumor surfaced online that HYBE, which houses BTS, TXT, and more prominent K-pop groups, will be taking over PLAVE, having the members continue group activities under them. However, in a recent press conference, VAST Entertainment’s CEO Lee Sung Gu addressed the speculations, delivering insights into the matter. 

According to a report by Newsen, the CEO stated that the rumor about HYBE’s acquisition is completely false. As cited by him, they merely received minor stake investments from HYBE and YG Plus, which would be used for the purpose of expanding PLAVE’s overseas activities.

“I am unable to reveal the investment amount since I don’t have permission from the said investors," Lee Sung Gu further stated laying the speculations to rest.

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On April 22, afternoon of KST, the CEO held a press conference in Seoul regarding PLAVE’s future plans, while reflecting on their journey since last year. Reports suggest he talked about learning from initial shortcomings, realizing their additional jobs rather than technology-related tasks, in order to make PLAVE successful in a world of real K-pop idols.

He also talked about the virtual boy band’s first successful fan concert, which was held on April 13 and April 14. He shared the delightful news of selling out all tickets for the event, which serves as evidence of their growing popularity.

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Know more about rising virtual K-pop boy band PLAVE

In addition, Lee Sung Gu also expressed his gratitude towards PLAVE’s fans for showering the members with much love and urged them to continue with their support in order to present the group in a better and redeveloped way.

PLAVE is a virtual boy band formed under VAST Entertainment. With five members - Yejun, Noah, Bamby, Eunho, and Hamin, the group made their debut on March 12, 2023, with their single album ASTERUM. In February 2024, they unveiled the 2nd EP titled ASTERUM: 134-1, which earned commendable applause from the fans.

With the group’s agency hinting towards a new development in their music, PLAVE fans can look forward to witnessing the group further their K-pop portfolio.

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ALSO READ: ZEROBASEBANE’s Han Yujin, IVE’s Leeseo, actor Moon Sung Hyun confirmed as MC trio for SBS' Inkigayo; know more

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Credits: Newsen
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