20th Anniversary Marks New Era of Regional Multi-Label Expansion': Hybe CEO

연합뉴스 / 2025-01-06 12:46:22

▲ This image, provided by Hybe, shows the firm's new CEO, Lee Jae-sang, who succeeds his predecessor Park Ji-won officially from Sept. 12, 2024. (PHOTO NOT FOR SALE) (Yonhap)

SEOUL, Jan. 6 (Yonhap) -- HYBE CEO Lee Jae-sang has unveiled plans to strengthen the company’s localized business strategies as it celebrates its 20th anniversary this year.

In a New Year’s address on Saturday, Lee stated, "2025 is a very special year for HYBE as it marks our 20th anniversary. If the past 20 years represented our foundation and growth phase, the next decade will be a time of major leaps forward."

He emphasized, "The coming decade will witness the rapid expansion of HYBE’s sophisticated production and solutions system, developed through K-pop, into other genres. This era will also bring systematic diversification of IP-based (intellectual property) businesses, solidifying our status as a top-tier global entertainment and lifestyle company."

Founded in 2005 by Chairman Bang Si-hyuk as Big Hit Entertainment, HYBE gained global recognition with the meteoric rise of BTS, which debuted in 2013. The company expanded its influence by acquiring Pledis Entertainment (home to SEVENTEEN), Source Music (formerly home to GFRIEND), and Ithaca Holdings, which manages global stars like Justin Bieber and Ariana Grande.

▲ The headquarters of K-pop entertainment behemoth Hybe, located in Yongsan, central Seoul. (Yonhap)

Lee highlighted the importance of securing influential artists and IP across regions, matching the global impact of HYBE’s Korean artists. "This year will be the inaugural year for establishing regional multi-label and solution systems, focusing on creating ‘multi-home markets,’" he said.

Through this framework, HYBE aims to develop localized rookie artists and apply diversified business models to expand its music-based solution services. In the latter half of 2024, the company plans to debut Latin American artists through its HYBE Latin America division, facilitated by an audition program.

Beyond its music ventures, Lee stressed the importance of investment in future-oriented entertainment platforms, blending core businesses in music and technology. He underscored the criticality of adaptability in the face of increasing uncertainty in global political and economic conditions.

"The next few years will bring unprecedented levels of industrial and market uncertainty. Flexible responses will be critical to our success," Lee noted.

He also hinted at organizational and business restructuring to facilitate quicker decision-making. "To meet numerous challenges, I will pursue more agile decision-making starting this year. This may involve continuous adjustments to our organizational and financial structures, including rebalancing investments," he concluded.

HYBE’s ambitious plans underscore its vision to remain at the forefront of the global entertainment industry by fostering regional talent and diversifying its business portfolio.