Hybe

Lore & Background

Hybe was founded as Big Hit Entertainment on February 1, 2005. It signed the vocal trio 8Eight in 2007 and in 2010 entered a joint management contract with JYP Entertainment for the boy group 2AM. That year, Bang Si-hyuk signed RM as the first member of BTS, which debuted under Big Hit on June 13, 2013. The company also signed Lim Jeong-hee in 2012 and formed the girl group Glam with Source Music, which disbanded in 2014 after member Kim Da-hee was sentenced to prison for blackmailing actor Lee Byung-hun. Following the end of the joint contract with JYP in April 2014, three members of 2AM returned to JYP, while Lee Chang-min remained with Big Hit. 8Eight disbanded later that year. In May 2015, Lim parted ways with the agency, and Signal Entertainment Group acquired stakes in Big Hit through a convertible bond, though the stake relationship ended in early 2016. In February 2018, Homme disbanded after Changmin's contract ended. In August 2018, Big Hit and CJ ENM formed Belift Lab, which debuted Enhypen in November 2020. BTS renewed their contract for seven more years in October 2018. Big Hit debuted TXT in March 2019, appointed Lenzo Yoon as co-CEO, acquired Source Music in July 2019, and acquired the video game firm Superb in August 2019. In May 2020, Big Hit became majority shareholder of Pledis Entertainment, and acquired KOZ Entertainment in November 2020. In January 2021, Big Hit and beNX invested in YG Plus, and Naver Corporation invested in beNX, which was renamed Weverse Company. In February 2021, Big Hit announced a strategic partnership with Universal Music Group and invested in AI company Supertone.

Reader's Guide

Hybe's significance lies in its transformation from a single-label music company into a multinational conglomerate with a tech-driven lifestyle platform. Its rebranding in March 2021 marked a strategic shift, accompanied by acquisitions such as Ithaca Holdings (including Big Machine Label Group) and investments in fintech and AI. The company's Weverse platform became a central hub for fan communities, integrating with V Live after Naver's investment. Hybe's organizational restructuring, including the spin-off of BigHit Music as an independent label under its Labels division, allowed it to manage multiple artists and labels while expanding into content partnerships with Disney and Webtoon. Its inclusion in Time's '100 Most Influential Companies' in 2021 and 2022, and recognition by Fast Company as the 11th most innovative company globally in 2022, underscore its impact on the music industry and digital entertainment. The company's joint venture with Geffen Records to debut a global boy group and its NFT partnership with Dunamu illustrate its ongoing expansion into new markets.

Did You Know?

• The company acquired Ithaca Holdings, including Big Machine Label Group, for $950 million in April 2021.
• Hybe's Weverse platform was developed by its subsidiary beNX, later renamed Weverse Company.
• In 2021, Hybe won a Red Dot Design Award for its new corporate identity design.