BTS Decorated as One of the Most Influential Companies for Music Business Innovation
'Hybe' was selected as one of the '100 Most Influential Companies' announced by TIME, an American weekly magazine, for the second year in a row. At the same time, the group's 'BTS' and Hybe's board chairperson Bang Si-hyuk decorated the cover.
Time selected Hybe as the leader in THE POP POWERHOUSE category on its list of the 100 Most Influential Companies of 2022.
Time reported, "Korea's Hybe is innovating its music business with the help of BTS. A small entertainment company is developing a 360-degree business based on artists and music intellectual property rights (IP), It has grown into an IP holder company,” he said.
Among the factors that contributed to the success of Hybe and BTS in the global music market amid the COVID-19 pandemic, the value chain of the music market, such as the operation of the global fan community 'Weverse', the NFT (non-fungible token) business, and the original story business, was an expanding business structure.
In an interview with Time, Chairman Bang said, "We will continue to grow the influence of music and artist IP, which are the core of Hybe. Our vision is to become the world's best entertainment lifestyle platform based on music."
Source: Moon Soo-kyung from No Cut News (March 31,2022)