HYBE LOOKS AHEAD WITH "HYBE 2.0" STRATEGY

Following a CEO switch-up last week, Korean music giant HYBE has revealed the components of its "HYBE 2.0" strategy under new leader Jason Jaesang Lee.

Underway since early 2024, HYBE 2.0 will reorganize the company into music, platform and tech-driven growth silos. Many of the new initiatives will involve Weverse, HYBE's super-fan platform.

Beyond that, the company has formed HYBE Music Group APAC to boost its labels in South Korea and Japan and export their products worldwide. BIGHIT MUSIC President Young Jae Shin, who's helped BTS (pictured) and TOMORROW X TOGETHER become global stars, will serve as president.

As part of a "multi-home, multi-genre" strategy already in place in Japan, the U.S. and Latin America, the Scooter Braun-led HYBE America will launch a management arm based on "a growing demand for change in the traditional business structure in the U.S. market due to its fragmentation, complex contractual relationships and simplified care for individual artists at larger labels."

HYBE America has also signed American group KATSEYE through its JV with Geffen, while HYBE Japan is signing acts under new chairman Youngmin Kim. The Latin American division is expected to roll out next year.

In addition, Weverse will create a subscription tier by Q4 for all artists on the platform, offering fan-club features, digital currency, ad-free video and offline storage for on-demand content.

The company's investments in AI, gaming and other technologies were dubbed "a necessary direction," but HYBE cautioned that "they will be made cautiously, considering financial impacts and profitability, to ensure stable growth."