'Bang Si-hyuk Reshaping the Music Business' Featured on Billboard Cover

Bang Si-hyuk, chairman of HYBE, graced the cover of the April issue of the American music media Billboard magazine. Billboard selects individuals who have shown significant progress in the global music industry each month to feature on its magazine cover. Notable entrepreneurs who have been featured on past covers include Lucian Grainge, CEO of Universal Music Group, and Daniel Ek, founder and CEO of Spotify.

원본보기 아이콘

The theme of the April issue is ‘The Future of K-pop,’ and Chairman Bang was chosen as the cover star as a key figure driving the rapid growth of K-pop. In addition to the cover, the magazine’s interior pages feature photos of Chairman Bang alongside Scooter Braun, CEO of HYBE America, Pierre ‘P’ Thomas of QC Media Holdings, and Kevin ‘Coach K’ Lee. QC Media Holdings is a company acquired in February as part of the strategy to enhance the ‘multi-label system.’

Billboard introduced Chairman Bang as ‘a figure reshaping the music business through multiple mega deals’ and ‘an entrepreneur who is still a creator composing and producing music.’ In an in-depth interview with Billboard, Chairman Bang diagnosed the stagnation in K-pop’s growth and suggested global partnerships and technological convergence as breakthrough strategies.

Along with this, Chairman Bang presented a strategy to increase global influence by enhancing synergy effects among HYBE’s multi-label system. Following the acquisitions of Ithaca Holdings and QC Media Holdings, HYBE is seeking business partners to expand into the Latin music genre. Chairman Bang also revealed plans to hold a global audition in collaboration with Universal Music Group’s Geffen Records.

Furthermore, Chairman Bang identified ‘technological convergence’ as another key growth strategy for HYBE. The company plans to continue acquisitions and investments in strong technology firms such as Superton, Innerbuz, and Giantstep, aiming to deliver advanced music experiences to fans and the public. He also hinted at unveiling a new concept project that fuses music and technology next month.

© The Asia Business Daily(www.asiae.co.kr). All rights reserved.