HYBE and Bang Si-hyuk Are Transforming the Music Business—With a Little Help From BTS

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Korean supergroup BTS_twt on the power of management company hybeofficialtwt TIME100Companies

—for over $1 billion, invested over $420 million in a crypto venture, and scaled up business in Japan and the U.S. It also runs Weverse, a fan-to-artist social media app with nearly 7 million monthly users. “We are in a stage where we have expanded the boundaries of our industry itself,” Bang says.Get a print of the 2022 TIME100 Companies cover featuring BTS here

Where HYBE has differentiated itself is in investing in technology that makes it possible to stream concerts virtually and own the artist-fan relationship, from ticketing to merchandise shops to live artist broadcasts, shows, and message boards. Weverse, where fans can go for all things related to HYBE artists, is what Bang calls a “great innovation.” HYBE also recently acquired VLIVE, a tech platform that allows for live video streaming to audiences.

Mr. Bang Si-Hyuk, chairperson of HYBE, with BTS photographed at the HYBE Corp. building in Seoul, Korea on March 6.The NFT question is just one piece in Bang’s vision of a new, better-functioning business model for artists. One of the primary challenges in the global music industry is the tension between artists, labels, and streaming platforms for fractional payouts. Bang’s method of evading that minefield is to diversify HYBE artists’ income streams.

“Our company structure is so unique,” Bang says; it’s able to capture revenue from multiple points. That’s a contrast to many other labels. “The music industry is losing quite a lot in the value chain. I feel the music industry should be making a lot more money and their value as a service should be recognized more,” he says, referring to the artists’ work. “Mr. Bang and HYBE have always prioritized the essentials—the music,” says BTS member J-Hope.

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BTS_twt HYBEOFFICIALtwt that's right! 'Korean Supergroup'✅ not Kp0p🥴 The power they holds as they freakin' should! KINGS!!👑🔥 BTS WORLD DOMINATION BTS PAVED THE WAY BTS THE PRINCES OF POP BTS THE PRINCES OF GLOBAL POP Listen to the multi-awarded song BTS_Butter by BTS BTS_twt 2021 SOTY.

PRINCES OF GLOBAL POP

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ZER0XBLACK BTS_twt HYBEOFFICIALtwt the power they hold♡

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HYBE's Bang Si-Hyuk Explains His Vision For the Company Behind BTSAs Chairman of HYBE, the South-Korea-based talent agency and technology company behind supergroup BTS, Bang Si-Hyuk is known for his canny strategies and vision. BTS_twt The most handsome charming PRINCE JIMIN🤴👼 DESNEY PRINCE🤴,DREAM BOY 🥰 FAIRYTALE PRINCE 🤴👼JIMIN 🤴👼💜❤️💛 ParkJimin BTSJIMIN JIMINOSTisComing BTS_twt BTS 💜💜 BTS_twt Also, i didnt think that BangPD would address the nft debacle since that received a LOT of backlash from fans,,, im glad that he and the company are taking things seriously to understand those concerns and hopefully they proceed in a smart fashion 😌
Source: TIME - 🏆 93. / 53 Read more »

HYBE's Bang Si-Hyuk Explains His Vision For the Company Behind BTSAs Chairman of HYBE, the South-Korea-based talent agency and technology company behind supergroup BTS, Bang Si-Hyuk is known for his canny strategies and vision. BTS_twt The most handsome charming PRINCE JIMIN🤴👼 DESNEY PRINCE🤴,DREAM BOY 🥰 FAIRYTALE PRINCE 🤴👼JIMIN 🤴👼💜❤️💛 ParkJimin BTSJIMIN JIMINOSTisComing BTS_twt BTS 💜💜 BTS_twt Also, i didnt think that BangPD would address the nft debacle since that received a LOT of backlash from fans,,, im glad that he and the company are taking things seriously to understand those concerns and hopefully they proceed in a smart fashion 😌
Source: TIME - 🏆 93. / 53 Read more »