My Celebrity Life

BTS’ agency HYBE named one of the most influential companies of 2021 by ‘TIME’

BTS tops IFPI’s Global Album All Format Chart

HYBE, the South Korean entertainment company behind K-pop megastars BTS, has been included on TIME Magazine‘s ‘100 Most Influential Companies of 2021’ list.

Formerly known as Big Hit Entertainment, HYBE is one of only two South Korean companies to make it onto the TIME Magazine list, the other being Samsung. The publication noted that the once “underdog” entertainment company had “South Korea’s biggest public listing in three years”, attributing the organisation’s success to its creation of a “BTS-fueled empire”.

TIME also likened HYBE to global entertainment conglomerate Disney, stating that it “looks at each of its acts as intellectual property to be developed into a universe of fan-friendly experiences and products”. Such experiences include tie-ins with smartphone brands, such as Samsung, as well as virtual events with popular video games like Fortnite.

In recent months, HYBE has also purchased American-based media group Ithaca Holdings for US$1billion, adding A-list pop stars such as Justin Bieber and Ariana Grande to its ranks. The company has also invested over US$60 million in fellow K-pop agency YG Entertainment, home to BLACKPINK and BIG BANG.

Big Hit Entertainment officially rebranded itself as HYBE on March 31, 2020. Earlier that month, the company had introduced its new name, saying that it symbolises connection, expansion and relationships, and represents its drive to become a “music-based entertainment lifestyle company”.

Despite having shown remarkable progress, HYBE and BTS continue to make waves in the entertainment industry with various partnerships with various popular brands. Earlier this month, BTS announced collaborations with Louis Vuitton and McDonald’s. The seven-member group have also announced details of their upcoming single titled ‘Butter’.

 


Credit: Original article published here.

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