Wild Card
How HYBE is Changing the Music Industry
The company is a functioning record label, talent agency, music production company, event management, and concert production company.
The company has several subsections within its production: Big Hit Music, Source Music, Pledis Entertainment, Belift Lab, and KOZ Entertainment, also known as HYBE LABELS.
The company itself is separated into three subdivisions: Hybe Labels, Hybe Solutions, and Hybe Platforms. Through each of these divisions, the company manages several international and technological programs around the world to market its groups.
Hybe Corporation originally operated as a private company and nearly went bankrupt in 2007 but was able to keep the company afloat after the popularity of a local K-POP group and through the investment and work of Bang Si-hyuk. Since then, Hybe has represented some of the most famous K-POP groups in the world, including BTS. Hybe Corporation officially became a public company in May of 2021, and since then has substantially grown in terms of financial reports.
A lot of the company's success can be attributed to its management style and techniques, and because of this, Hybe has expanded its international reach and public relations strategies to attract a worldwide audience base to South Korean groups.
The production and techniques used by Hybe to represent Asian artists have completely changed the way of the music industry.
Hybe Labels
The largest subsidiary of Hybe Corporation is Hybe Labels. In layman terms, Hybe Labels is the umbrella that covers the individual labels that Hybe represents. Hybe Labels was previously known as Big Hit, prior to the rebranding of the company in 2021.
Big Hit Music is well-known for its representation of the most popular K-POP group in the world, BTS. Other well-known labels represented under Hybe include: ADOR, BeLift Lab, KOZ Entertainment, Pledis Entertainment, and Source Music. Under these groups, dozens of famous K-POP groups are represented through effective national and international outreach programs through Hybe.
Big Hit Music is the most successful sector within Hybe Labels. Like previously stated, they represent BTS, as well as Tomorrow x Together and Lee Hyun.
In an interview with TIME magazine, Bang Si-hyuk shared Hybe's vision regarding the future of the $9.5 billion company,
With this ambitious goal and the popularity of their leading group (BTS), the company and Bang Si-hyuk are determined to establish themselves as Number One within the music industry.
Hybe Solutions
Hybe Solutions came to be within the rebranding of the company in 2021, when Hybe 360 and Hybe IPX were dissolved to create the Hybe Solutions section of the company.
What do they do?
Hybe 360 "plans, produces and operates content and services such as global concerts, fan meetings, and other high quality in-person and online concerts and theme parks for expanding customer experience".
These sectors are responsible for creating fan experiences available to countries worldwide. This sector was responsible for producing interactive platforms and opportunities for fans and groups during the COVID-19 lockdown.
Hybe Solutions also works to create opportunities for fans and groups to communicate and understand each other through their language barriers. For example, because of the rising popularity of BTS in foreign countries, Solutions has established education programs that aid in the instruction of Korean, "to develop Korean-language textbooks for distribution to overseas elementary and secondary schools through the Ministry of Education beginning in 2022".
This program operates under Hybe EDU which dedicates their time and resources to "creating and distributing educational content that facilitates the most effective way to allow fans all over the world who devote much of their time learning the language and culture of the artists that they cheer on".
These programs that encourage fan/artist communication and the connection are a huge part of the success that Hybe has expanded upon. Eliminating language barriers between cultures, allows multicultural and international groups to create connections across the globe.
Hybe Platforms
Described as the "technology division" of the Hybe Corporation, Hybe Platforms functions as the social networking and entertainment section. Through this division, Hybe has established several social network sites for fans and artists to communicate with each other on a sociable and personal level that differs from other social media platforms.
Within this app, fans are encouraged to join their favorite group's page and engage in conversation with other fans, as well as the artists themselves.
BTS is the #1 artist featured within the app and holds the records for most views, likes, and comments on an individual live stream.
Each of these platforms give K-POP fans (specifically the groups who are represented by Hybe) unique opportunities to interact on a personal level with their favorite artists.
In each of Hybe Corporation's individual sectors, there is an obvious ambition toward the goal set by Bang Si-hyuk. What sets Hybe apart from other labels and companies representing the music industry, is Hybe's innovative approach to investing the company into the technology that will ultimately change the music industry as we know it. This approach has created a global change inside the music industry and will continue to mold itself after Hybe in years to come.
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