Hybe Co. announces its business strategy in an online press conference on Nov. 10, 2022, in this photo provided by the Korean entertainment agency behind supergroup BTS.
SEOUL, Nov. 10 (Korea Bizwire) – Hybe Co., the Korean entertainment agency behind supergroup BTS, said Thursday it will support collaborations between different record labels under its wing to introduce diverse content in what is seen as efforts to fill the hole left by the flagship band’s hiatus.
Hybe unveiled the diversification strategy in an online press conference as the company needs to reduce its excessive reliance on BTS, whose seven members are expected to fulfill their mandatory military service in the coming years, starting with its oldest member Jin.
Hybe founder and chairman Bang Si-hyuk said the company will venture into new territories to satisfy its fans with top-level content, saying an innovative spirit is in the “corporate DNA.”
Hybe has multiple subsidiaries, including Big Hit Music, which manages BTS, Source Music, Pledis Entertainment, Belift Lab and KOZ Entertainment, collectively known as Hybe Labels.
Before BTS announced plans to take a temporary break, Hybe’s record labels debuted new K-pop groups earlier this year, including Le Sserafim and NewJeans, and have been preparing new projects for next year.
Boy band Tomorrow X Together will drop its fifth mini album in January, and Seventeen and Fromis 9 plan to release new albums in the first half of next year, the company said.
ENHYPEN will continue its ongoing world tour through early 2023, and Le Sserafim will go on a world tour in Asia and North America next year, it added.
BTS will remain active, but its members will focus on their individual projects in the meantime, according to Hybe. Jin dropped a single album last month and RM plans to soon release his solo album, it noted.
“I hope you pay attention and provide support for their upcoming activities,” Hybe CEO Park Ji-won said during the conference. “We have (been preparing) some interesting projects.”
(Yonhap)
