Big Hit Entertainment

Originally established as Big Hit Entertainment on February 1, 2005, the company rebranded to HYBE Corporation in March 2021 to signify its evolution from a record label into a comprehensive entertainment lifestyle platform. The company's founder, Bang Si-hyuk, is a composer and producer who previously worked at JYP Entertainment, one of South Korea's largest music agencies. His background in producing hit songs, earning him the nickname "Hitman," shaped his vision to build an artist-centric agency focused on musical quality and authentic communication. The firm's early years involved managing artists like the trio 8Eight and co-managing the group 2AM with JYP Entertainment. A pivotal moment arrived with the 2013 debut of the boy band BTS, which propelled the company from a small agency into a global powerhouse and led to its public listing on the Korean Stock Exchange in October 2020.

HYBE's business structure is organized into three main pillars: Labels, Solutions, and Platforms. The Labels division operates under a multi-label system, which includes numerous subsidiaries like BIGHIT MUSIC (home to BTS), Pledis Entertainment, SOURCE MUSIC, and ADOR, among others. This structure is designed to foster creative independence while leveraging centralized support from the parent company. The Solutions pillar focuses on creating secondary businesses derived from artist intellectual property (IP), such as merchandise, video content, games, and educational material. This creates a diversified revenue stream beyond traditional album sales and concerts. The Platforms division is centered around Weverse, a proprietary social media and e-commerce application. Launched in 2019, Weverse facilitates direct communication between artists and their global fanbases, hosts exclusive content, and serves as a one-stop shop for artist-related merchandise. The platform has over 10 million monthly active users and is a key component of HYBE's fan-centric business model, generating revenue through merchandise sales, subscriptions, and memberships.

HYBE's global expansion strategy includes strategic acquisitions and partnerships to increase its international footprint. A significant move was the 2021 acquisition of Ithaca Holdings, the US-based media company managing artists like Justin Bieber and Ariana Grande, which led to the formation of HYBE America. Further acquisitions have expanded its reach into the US hip-hop market with Quality Control and into the Latin music sector with Exile Music. This multi-genre, multi-market approach aims to export the K-pop business model globally, combining its artist development system with local cultures to create new acts. The company continues to invest in new technologies, including artificial intelligence and gaming, to enhance its content offerings and fan experiences.

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