HYBE has been named to TIME magazine’s list of the 100 Most Influential Companies in the World for the second year in a row. The list features 100 companies from a wide range of industries that are reshaping the future. The 100 organizations on the list were picked based on “relevance, influence, innovation, leadership, ambition, and success,” according to the magazine. BTS and Bang Si Hyuk decorated the cover of TIME magazine in recognition of their inclusion on this year’s list.
TIME states that HYBE and Bang Si Hyuk are “transforming the music business.” Bang Si Hyuk shared, “[HYBE’s] vision is to become the world’s leading entertainment lifestyle platform with music as our foundation.” He talked about starting out as a small business and growing into a “‘360-degree business’ in the mode of brands like Disney that own and operate a catalog of intellectual properties (IPs).”
Bang Si Hyuk also mentioned that the company was able to succeed even during the pandemic due to HYBE’s business structure, noting that the value chain should be expanded and that their business prioritized the music. According to TIME magazine, HYBE set itself apart by “spending in technology that allows it to virtually stream concerts and own the artist-fan relationship, from ticketing to product shops to live artist broadcasts, shows, and discussion boards.”
In the first half of this year, HYBE plans to release Weverse 2.0, which will integrate the app V LIVE. HYBE is also expanding their “Original Story Business” by releasing their own webtoons and web novels.
“The essence of our firm is IP—we are a music company,” Bang Si Hyuk emphasizes, placing significance on the music as the foundation.