HYBE, BTS's Agency, Establishes New Label 'BigHit Music'

[Asia Economy Reporter Dongwoo Lee] HYBE, the agency of the group BTS, is restructuring its business to enhance the efficiency of its core business divisions.

On the 1st, HYBE announced that it will spin off the label business division of the existing Big Hit Entertainment to establish a new company called 'Big Hit Music.'

HYBE will hold 100% of the shares of Big Hit Music and stated that it is not considering sales or an initial public offering (IPO).

Additionally, the subsidiary 'HYBE IP,' which handles artist intellectual property (IP) related businesses, and 'HYBE 360,' which produces performances, will be merged.

HYBE explained that it restructured its business to establish an organizational structure based on three pillars?label, solution, and platform?to improve the efficiency of its core business divisions and expand synergy among business units.

Earlier, at the corporate brand presentation held last month, HYBE announced its vision to expand its business into various fields as the "world's best entertainment lifestyle platform company based on music."

This content was produced with the assistance of AI translation services.