Starting From A Small Agency, Bang Si Hyuk Shares HYBE’s Vision In A Photoshoot With BTS
BTS And Bang Si Hyuk Recently Appeared On The Cover Of TIME Magazine Which Is Famous For Having HYBE Selected As One Of The ‘100 Most Influential Companies’.
On March 30, TIME magazine released an article which included interviews with Bangtan Boys and Bang Si Hyuk , the founders of Big Hit Music and the company HYBE. The two were featured on the cover of TIME magazine which is famous because HYBE was selected as one of the “100 Most Influential Companies” and on the occasion, Bang Si Hyuk shared his vision of HYBE and shared details of the company structure.
According to Bang Si Hyuk in TIME magazine, “HYBE’s vision has always been ambitious to the point of overbearing. Our vision is to become the world’s leading entertainment lifestyle platform, with music as our foundation.” As previously mentioned, HYBE had humble beginnings when Bang Si Hyuk started by selecting seven talented young individuals from Korea to form BTS. Although the company, formerly known as Big Hit Entertainment, started out as a small entertainment company managing a single group, it has grown to become one of the largest entertainment companies in South Korea, expanding its business into areas other than management.
According to TIME, “HYBE acquired US-based media company Ithaca Holdings that manages the likes of Justin Bieber, J Balvin, and Ariana Grande for over $1 billion, invested more than $420 million in crypto ventures, and scaled up business in Japan. and the US It also runs Weverse, a fan-to-art social media app with nearly 7 million monthly users.”
In his interview with TIME, Bang Si Hyuk also dissected the company and explained the structure in which HYBE operates. “HYBE is made up of three sectors: IP artist, technology and world-building. BTS is leaning on all that infrastructure to find new paths to global domination even in lockdown,” wrote TIME.
Meanwhile, BTS’ leader Rap Monster explained, “The idea is to release new music to entertain people and heal their minds through our music during these difficult times when it’s difficult to meet and interact physically. The result is ‘Dynamite’, ‘Butter’ and ‘Permission to Dance’.”
In addition, HYBE also dived into the technology business when it launched Weverse, an interactive app for fans to connect with their favorite artists. Now Weverse is one of the biggest fan interactive apps. HYBE has expanded its business to differentiate itself from other existing entertainment companies. Thanks to HYBE’s expansion in the technology business, BTS and other HYBE artists can continue to keep their fans engaged through various content provided through fan communities such as Weverse and VLIVE. “During the pandemic, the company held online concerts and has built a fan community (around the world),” concluded Suga .