South Korean giant and BTS backer Hybe Corp eyes US

South Korean entertainment giant HYBE Corporation (best known as the home of K-Pop superstar BTS) has reacted boldly to market trends and is more optimistic than ever, moving its core label, talent management and concert production The business expanded into several other areas and now bills itself as a global entertainment lifestyle platform.

The company’s innovative strength lies in reimagining its artists – which also includes Tomorrow X Together, ENHYPEN, Lee Hyun and Nana – as knowledge that can be monetized across a range of platforms including social media, live streaming, gaming, education, webcomics and more Property rights and film and television content.Its businesses span fan-driven social media and e-commerce platform Weverse Company, which recently acquired Naver Corp’s live-streaming app V Live; a partnership with cloud streaming platform Kiswe for a virtual BTS tour; and a deal with Disney, which can see The company’s documentation and reality shows, such as BTS Monuments: Beyond the Star and In Soap: Making Friendsreleased on Disney+ worldwide.

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In 2021, HYBE’s $1 billion merger with an equally tech-minded music giant — Scooter Braun’s Ithaca Holdings — puts BTS in the same stable position as heavyweights Justin Bieber and Ariana Grande.Ithaca subsidiary SB Projects, a beauty business built around Grande and the TV series, has released a concert film featuring Bieber scorpion on CBS. HYBE also recently acquired Quality Control, the hip-hop powerhouse behind Lil Baby, Lil Yachty, City Girls and Migos.

HYBE chairman Bang Si-Hyuk said the company had set its sights on further U.S. acquisitions in response to what he called a “very pronounced slowdown in growth” in global K-Pop. Among other headwinds, seven members of BTS are currently on leave, some of whom have completed their military service, plus the company recently lost South Korean rival SM in a corporate battle that was ultimately won by South Korean internet giant Kakao. A controlling stake in Entertainment. But HYBE has weathered a plunge in live concert revenue during the pandemic by expanding across multiple platforms, and it may sit on the sidelines as it continues its global expansion.

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