SEOUL, Feb. 21 (Korea Bizwire) — Hybe, the K-pop company behind global superstar BTS, achieved its biggest sales ever last year, boosted by the expansion of the global fandom for its artists and successful debuts of rookie groups. The company said in a regulatory filing that it posted 1.77 trillion won (US$1.37 billion) in sales [...]
SEOUL, Feb. 18 (Korea Bizwire) — Hybe, the K-pop powerhouse that is trying to become the largest shareholder of its rival SM Entertainment, once again tried to dispel concerns over suspected offshore tax evasion by SM founder Lee Soo-man on Friday, calling it “a scenario that can never occur.” On Thursday, SM’s co-CEO Lee Sung-soo [...]
SEOUL, Feb. 14 (Korea Bizwire) — Park Ji-won, CEO of local K-pop powerhouse Hybe, has said his company will ensure the independence of its rival SM Entertainment even after becoming its top shareholder and that SM founder Lee Soo-man will stay away from management, according to sources in the music industry. Park made the remarks [...]
SEOUL, Feb. 10 (Korea Bizwire) – Hybe, the Korean entertainment agency behind supergroup BTS, said Friday it will acquire a 14.8 percent stake in its rival K-pop agency SM Entertainment to become its largest shareholder, a deal expected to have deep repercussions on the K-pop industry. Hybe said in a regulatory filing that it has [...]
SEOUL, Feb. 9 (Korea Bizwire) — Hybe said Thursday its American unit has agreed to acquire QC Media Holdings, the parent company of an influential U.S.-based hip-hop label, to expand its reach into the global market. Under the deal, Hybe America will acquire a 100-percent stake in QC Media Holdings at 314 billion won (US$248.8 [...]
SEOUL, Jan. 31 (Korea Bizwire) — Hybe Co., the Korean entertainment agency behind supergroup BTS, said Tuesday it has invested 45 billion won (US$36.5 million) to acquire 56.1 percent of stake in Supertone, an artificial intelligence (AI) sound startup. Hybe first acquired a 18.2 percent stake in Supertone in 2021 and made an additional investment [...]
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 [...]
SEOUL, Nov. 3 (Korea Bizwire) — Hybe, the entertainment company behind K-pop superstars BTS, on Thursday reported a revenue of 445.5 billion won (US$314 million) for the third quarter of the year, up 30.6 percent from a year ago. It marks the highest-ever third-quarter sales in the company’s history. The record gains were a result [...]
SEOUL, June 17 (Korea Bizwire) — In the aftermath of BTS’ recent announcement that they will suspend group activities, brokerage firms in South Korea are lowering their target price for Hybe, the management agency of K-pop supergroup, amid expectations of lower future revenues. Hybe shares dived almost 25 percent percent to 145,000 won after BTS’ [...]
SEOUL, April 28 (Korea Bizwire) — Bang Si-hyuk, founder and chairman of K-pop powerhouse Hybe that manages BTS, received an honorary doctorate on business administration from Seoul National University (SNU) on Thursday, saying he will work to improve the music industry for the future generation. “The pandemic was a global catastrophe that threatened the existence [...]