Big Hit’s new corporate brand presentation. Provided by Big Hit Entertainment
Big Hit Entertainment (hereinafter referred to as Big Hit), which has turned BTS into a world-class star, changes its name to’Hive’ (HYBE) and starts anew.
On the 19th, Big Hit held a presentation to announce the new corporate brand through its official YouTube channel, and explained its new mission, corporate vision, and organizational structure change. This is the first time the company has changed its name since its founding in February 2005.
The new mission of leaving’Entertainment’ contains the purpose of becoming a comprehensive’entertainment lifestyle platform company’ that creates expanded contents and services based on music and delivers them to fans.
Bang Si-hyuk, chairman of Big Hit Entertainment, said, “The variation of music that we think is an infinite range, and to explain it all, I thought that there is a limit to the name of Big Hit Entertainment.” , I thought that a new mission was needed as a symbol of an expandable structure,” he explained.
According to Big Hit, the new mission’Hive’ symbolizes the association, expansion, and relationship between members with expertise in various fields, artists, and fans. Big Hit explained, “It is a new name for the company, and at the same time, the concept encompasses the organizational structure, working culture, and corporate direction.”
The new mission is officially applied after it is confirmed by a resolution at the shareholders’ meeting held on the 30th.
In line with the new identity, the organizational structure of the three axes of label, solution, and platform was also clearly established. Big Hit, as a music label to which BTS and Tomorrow by Together, belong, continues under the name of’Big Hit Music’. Chairman Bang said, “By focusing on music production, artist management, and fan communication, the essential area as a label will be further strengthened.” Affiliated labels such as Belip Lab, Source Music, Pledis Entertainment, KOZ Entertainment, and Hive Labels Japan are also focusing on music creation.
Solution subsidiaries such as Hive Three Sixty, Hive IP, Hive Edu, Superv, Hive Solutions Japan, and Hive TD Japan will start their second and third business such as performance and video content, IP (intellectual property), learning, and games. In addition, the platform that connects fans and content is operated by Weverse Company. Big Hit’s fan platform Weverse will be reborn as a new K-pop platform by integrating with Naver’s VLive in the future. Through this structure, the goal is to ultimately expand the area of music-based entertainment and innovate the industry without boundaries.
Based on the global success of BTS, Big Hit, which expanded its business areas such as acquisition of other agencies and platforms, intellectual property (IP), has established itself as a company with a market cap of 8 trillion won as of the 19th after entering KOSPI last year. Chairman Bang Si-hyuk said, “It is Hive’s job to prove how far music-based entertainment can relate to the individual’s daily life and life.” It is full of all experiences that enhance the happiness and convenience of everyday life.'”
Go Kyeong-seok reporter [email protected]
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