Big Hit Entertainment Officially Introduces New Company Name “HYBE”, New Structure, Building, And More
Big Hit Entertainment has officially announced the change of their brand to HYBE, shared their updated company goals, and more in their latest presentation.
Bang Si Hyuk first announced there will be a big change for the company, and alongside Global CEO Lenzo Yoon and HQ CEO Park Jiwon, the executive trio shared how throughout their time with the company, they have been striving to innovate within the industry, and one of their proudest achievements was eliminating the barriers that fans traditionally had to go through, such as extremely long lines for merchandise.
Bang Si Hyuk then stated that as time went on, Big Hit Entertainment started diving into areas that traditionally were not covered by entertainment companies, such as 360 business, IP business, and the education sector. Due to this, the name of Big Hit Entertainment did not fit the agency anymore, and they needed a new name.
Big Hit Entertainment’s new company name was officially revealed as HYBE.
Lenzo Yoon stated that Big Hit Entertainment as a name will not disappear entirely, as a new label called BIGHIT Music will be created to be the home to the company’s artists. BIGHIT Music will cover music production, artist management, and fan communication.
Park Jiwon shared that HYBE will be comprised of two headquarters: HYBE HQ in Seoul, South Korea, and HYBE America. HYBE as a company will be split into three sections: HYBE Labels, HYBE Solutions, and HYBE Platforms.
HYBE Labels will be comprised of the aforementioned BIGHIT Music, BELIFT LAB, Source Music, Pledis Entertainment, KOZ Entertainment, and HYBE Labels Japan. Each agency will maintain their own independence and management, with support from HYBE’s overall management system.
HYBE Solutions is the business unit of the company, where all of the production companies lie, including HYBE EDU and Superb. They will be tasked with creating business using the creative output from the HYBE Labels’ artists.
HYBE Platforms currently is only home to Weverse Company, but may be one of the most important divisions, as it is the center that will connect and help expand all of HYBE’s content and services.
HYBE’s ultimate goal is to complete a system that allows their Labels, Solutions, and Platforms divisions to continuously innovate their business models and grow.
The executive trio then introduced their new campaign titled “What do you believe in?”. Bang Si Hyuk shared that their answer was music, and that is also HYBE’s core philosophy as they move on in the future.
Park Jiwon and Bang Si Hyuk shared how HYBE declared their vision to be “the world’s top music-based entertainment lifestyle platform company”, and Bang Si Hyuk shared what he meant by entertainment lifestyle.
All experiences that are filled with infinite imagination and joy that stem from music, that increase happiness and convenience in life.
— Bang Si Hyuk
They then introduced Min Heejin, CBO of HYBE, and she shared that her first project at HYBE was actually reshaping the entire brand system and HYBE’s new office, not Big Hit’s new girl group.
Min Heejin also shared what the interior and exterior of the HYBE office looks like, emphasizing flexibility, horizontal communication, and connectivity. She believed that a place that is convenient to work and communicate in will naturally attract people, and office work culture will flourish.
The HYBE building will be divided into three parts: the entertainment production section, office section, and employee’s welfare section.
Floors 1-6 will house the music production facilities, such as dance studios, film studios, the wardrobe, and a lounge.
The seventh floor was designed as a storage floor, housing supplies to maintain a pleasant work environment, with the inclusion of rolling racks to make transport and sorting much easier.
Floors 8-16 will be the office space, complete with many special features such as the mobile racks, which will allow workers to adjust the physical size of the office to better fit their needs. Modular walls can be installed to create private office spaces or meeting rooms. Each floor has an identical structure, but the modular walls allow customization. The company introduced the idea of free seating, where employees can sit anywhere, all they need to do is reserve a seat on the company’s new mobile app.
In addition, there are libraries on floors 8-10 and 14-16, and a fitness zone on floors 11-13 for employees to get some rest when they need it.
The 19th floor houses the forum, a lounge for employees and it also can be used as an auditorium for large meetings. Included in the forum will be a coffee shop, as HYBE is partnering with coffee brand Fritz to create a brand unique to HYBE.
Earlier, it was revealed through documents presented to the Financial Suppository Service that Big Hit Entertainment would be changing their company name to HYBE.
Watch the broadcast below: