at last week by former HYBE CEO Park Ji Won, HYBE has launched a new mid-to-long-term growth strategy dubbed “HYBE 2.0.”HYBE’s three main business areas, previously consisting of labels, solutions, and platforms, will be restructured into music, platforms, and tech-based future growth businesses through HYBE 2.0. To secure mid-to-long-term business competitiveness, HYBE has been preparing the HYBE 2.0 strategy since the second half of last year.
In the tech-based future growth business sector, HYBE will expand its incubating game business and pursue advanced R&D for future entertainment.HYBE will establish HYBE MUSIC GROUP APAC to oversee the multi-label business in Korea and Japan. This new group will focus on strengthening strategies and processes, investing resources, and enhancing music service functions to accelerate global business expansion.
HYBE is pursuing a “Multi-home, Multi-genre” strategy to establish a leading position in local markets by reflecting local cultures and characteristics, particularly in the United States, Japan, and Latin America. In HYBE 2.0, business strategies are being concretized by integrating K-pop expertise tailored to each market environment.
Additionally, HYBE plans to continue producing localized new talent in the United States, starting with KATSEYE, which debuted this year. KATSEYE, HYBE’s first localized group in the United States, debuted in June through a project that introduced K-pop methodologies to the American pop genre in collaboration with Geffen Records. For KATSEYE’s debut, HYBE established various infrastructures in the United States for artist development, including training, marketing and promotion, and A&R.
In Latin America, HYBE Latin America is building dedicated studios in Mexico City and recruiting and nurturing producers and artists. The first HYBE Latin artist, produced using the K-pop system, is expected to debut next year.