HYBE to Establish Label Management Organization... Unveils New Growth Strategy 'HYBE 2.0'

Business Restructuring Based on Music, Platform, and Tech
New Multi-Label Division 'HYBE Music Group APAC' Established

HYBE is establishing ‘HYBE MUSIC GROUP APAC’ to oversee its multi-label business domestically and internationally. Additionally, it will actively engage in producing local artists to target Japan, the world’s second-largest music market.

On the 1st, HYBE unveiled its new growth strategy, ‘HYBE 2.0,’ which includes these initiatives. Under this strategy, HYBE’s three main business areas?previously composed of labels, solutions, and platforms?will be reorganized into music, platform, and tech-based future growth businesses.

First, in the music business sector, HYBE will establish ‘HYBE MUSIC GROUP APAC’ to oversee multi-label operations in Korea and Japan. This organization will focus on strengthening strategies and processes necessary for label business growth and innovation, investing resources, and enhancing music service capabilities.

The inaugural CEO will be Shin Young-jae, CEO of Big Hit Music. Since joining Big Hit Entertainment, HYBE’s predecessor, in 2019, Shin has been responsible for various strategies, policies, and business model development. Since 2020, as CEO of Big Hit Music, he has successfully led the advancement of label organization and functions, playing a key role in BTS and TOMORROW X TOGETHER achieving remarkable success in the global market.

HYBE will also strengthen its global music business centered on the U.S., Japan, and Latin America by reflecting local cultures and characteristics. Under HYBE America, it will create a label service that combines traditional U.S. management business with HYBE’s 360 business model. This service will not only design artists’ career growth trajectories but also devise appropriate business models for each stage.

In particular, HYBE plans to expand localized artist production and solution businesses in Japan, the world’s second-largest music market. To this end, HYBE has newly appointed Kim Young-min, former SM Entertainment Chief Operating Officer, as Chairman of HYBE Japan. Chairman Kim is known as a leading ‘Japan expert’ in the entertainment industry. He aims to apply HYBE’s successful formula established in the K-pop industry to the Japanese market and elevate HYBE Japan to become the top entertainment company in Japan.

In the platform sector, HYBE will continue its business centered on its fan platform, Weverse. HYBE plans to launch a subscription-based membership service in the fourth quarter. This subscription membership will operate separately from the existing fan club membership and will be provided simultaneously, offering enhanced features for fans to use Weverse more conveniently, along with integration of some fan club services.

In the tech-based future growth business sector, strategic coordination and linkage of various new businesses prepared internally by HYBE will proceed. Currently, business model validation and testing are underway in areas including ▲game business, ▲audio and voice technology, ▲generative AI, ▲original story business, and ▲integrated online and offline experience design. New investments considering the company’s future direction and profitability in these areas are planned.

Lee Jae-sang, the appointed CEO of HYBE, stated, “Based on HYBE 2.0, we will continuously develop domestic and global music businesses and solidify our leading position in the superfans market. Additionally, we will focus on securing mid- to long-term growth engines through tech-based future growth businesses.”

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