One hit wonder? The frenzy over K-pop and Big Hit

Shares of Big Hit Entertainment, the company the represents BTS, the world’s most successful boy band, begin trading on the Korean stock exchange today. The firm’s initial public offering, massively oversubscribed by both institutional investors and hardcore fans, has raised around $840m, putting Big Hit’s valuation at a cool $4bn. The IPO has already made BTS, who are shareholders, and their producer extremely rich. The jury is still out on whether it will do the same for investors. The success of BTS, whose popularity has helped spread K-pop globally, seems unlikely to abate for now. But the band currently accounts for nearly 90% of Big Hit’s revenue. Its seven twenty-something members may soon have to take a break from music to perform military service, which is still mandatory in South Korea. Until Big Hit comes up with another big hit, the company’s future will depend entirely on the loyalty of BTS’s fans.

initial public offering：首次公开发售
oversubscribe：超额订购，超售，超额认购
the jury is still out on : 裁判委员会还未作出判决
abate：减弱
account for：承担，占……比例
mandatory：强制的，法定的，义务的