Every year, TIME selects the 100 most influential companies in the world. And in this yearŌĆÖs list, HYBE, best known as BTSŌĆÖ label, was named the leader of ŌĆ£The Pop PowerhouseŌĆØ category. The magazine added, ŌĆ£HYBE and Bang Si Hyuk Are Transforming the Music BusinessŌĆŌĆØWith a Little Help From BTS.ŌĆØ In an interview, Bang conveyed his passion for the industry. ŌĆ£Our vision is to become the worldŌĆÖs leading entertainment lifestyle platform, with music as our foundation,ŌĆØ he shared. TIME further introduced, ŌĆ£As HYBE has evolved, it has grown from a small artist incubatorŌĆŌĆØBang handpicked the seven performers of BTS from around KoreaŌĆŌĆØinto what he calls a ŌĆś360-degree business,ŌĆÖ in the mode of brands like Disney that own and operate a catalog of intellectual properties (IPs).ŌĆØ TIME also states that HYBE differentiated itself by ŌĆ£investing in technology that makes it possible to stream concerts virtually and own the artist-fan relationship, from ticketing to merchandise shops to live artist broadcasts, shows, and message boards.ŌĆØ The label currently plans on revealing Weverse 2.0, which will integrate V LIVE. According to Bang, HYBEŌĆÖs unique company structure is the basis for the success of the label and their artists in the global music market. ŌĆ£The music industry is losing quite a lot in the value chain. I feel the music industry should be making a lot more money and their value as a service should be recognized more,ŌĆØ he said. BTSŌĆÖ J-Hope added, ŌĆ£Mr. Bang and HYBE have always prioritized the essentialsŌĆŌĆØthe music.ŌĆØ Source (1, 2, 3) Translator Kim Hoyeun: If you are a fan of K-drama, K-movie, and K-pop, I am your guy. I will continue to provide you with up-to-date K-entertainment news.
