HYBE Establishes Big Hit Music As New Subsidiary Company
HYBE will be reorganizing their business structure.
On April 1, HYBE announced through their board of directors’ meeting that they would be dividing from Big Hit Entertainment. This business divide will be simple and physical, merging HYBE IP and HYBE 360 into a newly established subsidiary Big Hit Music. HYBE will hold 100 percent of shares in Big Hit Music.
Last month, HYBE held a New Brand Presentation where they revealed their company name, organization, and mission. They shared that they were the best entertainment lifestyle platform enterprise in the world of music through which they will innovate the industry without any boundaries.
This business structure reorganization is a part of a change to increase the efficiency of core business units. Using a triangular foundation of the label, solution, and platform, they will also expand the synergy between business divisions.
The newly established Big Hit Music subsidiary label will primarily focus on music production, artist management, and fan communication. They will provide their artists with the optimal working environment and share the best content with fans.
Through the merger of HYBE IP and HYBE 350, HYBE has established a faster decision-making process to increase operational efficiency. Additionally, using the IP of the label’s artists, they are expected to be able to reinforce business solutions that create secondary and tertiary business.
Representatives of HYBE shared, “With the launch of HYBE, we reorganized the business structure in order to increase its corporate competitiveness. We are also not considering the sale or IPO reveal of the newly divided Big Hit Music.”