SEVENTEEN will sit out Big Hit Entertainment's first-ever year-end family showcase.

According to a report by Koreaboo, Pledis Entertainment recently confirmed that the 13 members of SEVENTEEN will not be able to join their Big Hit labelmates because of a prior schedule. The label expressed regrets in its statement and said that every option was explored before they arrived at the decision.

It can be recalled that, in May, Big Hit Entertainment acquired Pledis as a subsidiary company, making SEVENTEEN and NU'EST part of the Big Hit family.

It was earlier announced that Big Hit will hold year-end concert featuring their top artists including BTS, GFRIEND, TXT, NU'EST, and rookie group ENYPHEN.

The concert will be streamed on New Year's Eve on WeVerse. The event, titled 2021 New Year's Eve Live, is expected to draw the fandoms of Big Hit as well as its sub label's artists. It will air on New Year's eve of 2020 and crossover to New Year's day of 2020.

However, some fans believe that the timing of the event is intended by Big Hit as a power move as it coincides with the airing of MBC's Gayo Daejejeon, one of the biggest year-end music showcases on TV.

It was speculated by fans that the label was taking its revenge on MBC after the network deliberately left out GFRIEND and TXT from last year's showcase.

It was rumored that the two acts were punished by MBC because BTS did not accept their invitation to join the show. The group was unable to accept MBC's invitation due to an overseas commitment.

Last year, BTS was part of Dick Clark's Rockin' New Year's Eve held in New York City.

For their part, MBC denied reports that they left out TXT and GFRIEND from the casting because of BTS' absence from Gayo Daejejeon. They also said that TXT being unable to participate in last year's Star Athletics New Year's Special was not related to the Gayo Daejejeon incident.

Big Hit has not yet commented on the rumors but it is expected that the label will hold simultaneous online and offline versions of the 2021 New Year's Eve Live concert. The tickets for the offline version will be sold in a limited capacity due to government regulations.

Meanwhile, MBC has yet to reveal the line up of the artists for this year's Gayo Daejejeon. The traditionally star-studded line up is expected to take a hit with the absence of Big Hit and its sublabel's artists from the show.