Big Hit announced the new name, organizational structure and a new HQ in a brand presentation on YouTube today (see below).
The company says that the rebrand will be finalized at its shareholders’ meeting on March 30.
Big Hit’s record label will maintain its identity as a label called Big Hit Music under HYBE.
Big Hit plans to change the company’s organizational structure to focus on three key areas: “labels, solutions, and platform”.
The label division will include Big Hit Music, BELIFT LAB, PLEDIS Entertainment, KOZ ENTERTAINMENT, Source Music and HYBE Labels Japan.
The ‘solution’ division includes HYBE Three Sixty, HYBE IP, HYBE Edu, Superb Corp., HYBE Solutions Japan, and HYBE T&D Japan, which are specialized business units for video content, IP, learning and games, creating secondary and tertiary businesses based on creative output of each label.
The Weverse Company will fall under the platform division and will serve as a hub for connecting and expanding all of HYBE’s contents and services.
Using its “three-pillar structure” of labels, solutions and platforms, Big Hit says that it plans to become the “world’s leading entertainment lifestyle platform company based on music”.
Big Hit also unveiled a new HQ in Yongsan, Seoul.
Chief Brand Officer Min Hee-jin has overseen the development of the new brand along with space branding and design of the new HQ.
“This is a fresh beginning with a new corporate name HYBE along with rebranded space and organizational structure, but the core of what we do remains the same.”
Bang Si-Hyuk
Min Hee-jin said: “We designed the space such that HQ contains the values of HYBE that aims for connection, expansion and relationships, and the change in space in line with the corporate rebranding can lead to changes in the ways of work and corporate culture.
“Good space branding has a purpose in creating attitudes. We hope to establish a more creative and efficient working culture in HYBE’s new office space.”
Chairman & CEO Bang Si-Hyuk, said: “We operate various businesses and understand the area of entertainment in a much wider sense than previously perceived.
“I felt the need for a change of our name as a symbol of the structure that could connect and expand the current businesses.”
Bang Si-Hyuk added: “We define the ‘entertainment lifestyle’ as ‘every experience that is full of infinite imagination and joy from music, increasing happiness and convenience in our everyday life. We will provide this experience to everyone and connect with the world through platforms to build positive relationships.”
“This is a fresh beginning with a new corporate name HYBE along with rebranded space and organizational structure, but the core of what we do remains the same.
“We will continue to believe in the power of music, innovate industries, share good influence, and change in life.”
