HYBE unveils ambitious 'HYBE 2.0' strategy with executive shake-up and global expansion plans

HYBE unveils ambitious 'HYBE 2.0' strategy with executive shake-up and global expansion plans

HYBE, the multinational entertainment giant, is gearing up to implement an innovative business strategy aimed at expanding its global reach and enhancing artist-fan connections. This new initiative, termed HYBE 2.0, includes significant internal restructuring and several forward-thinking business strategies.

A pivotal part of this transition is the appointment of Lee Jae Sang as the new CEO, replacing Park Ji Won. Lee Jae Sang, the current CSO, is set to lead the HYBE 2.0 initiative, bringing fresh leadership to the company's strategic direction. Additionally, Kim Young Min, a former co-CEO of SM Entertainment, has been appointed as the chairperson of HYBE's Japanese subsidiary. His impressive resume and leadership experience are expected to drive significant growth in this region.

Key Business Strategies

1. Formation of HYBE MUSIC GROUP APAC
HYBE will launch a new division, HYBE MUSIC GROUP APAC, to oversee its music labels in Korea and Japan. This initiative aims to enhance the company’s music business by focusing on strategic investments, refining strategies, and bolstering music service capabilities. Young Jae Shin, currently the CEO of BIGHIT Music, will lead this division.

2. Multi-home, Multi-genre approach
HYBE plans to expand its Multi-home, Multi-genre strategy in the US, Japan, and Latin America. In the US, HYBE AMERICA will introduce a new label service starting with the debut of KATSEYE, in collaboration with Geffen Records. HYBE LATIN AMERICA will commence full-scale operations in 2025, focusing on infrastructure and talent scouting. HYBE JAPAN will debut a new artist, with Kim Young Min at the helm.

3. Weverse Platform Enhancements
The Weverse platform will see significant upgrades starting in the fourth quarter of 2024. These include a subscription-based membership offering digital cards, bonus content, and an ad-free experience. Weverse DM will also expand to include more artists and ads.

4. Integration of Content and Technology
HYBE aims to merge content with technology to drive sustainable growth. The company is exploring investments in gaming, audio/voice technology, generative AI, and integrated online and offline experiences to stay ahead of market trends.

Under the new leadership of Lee Jae Sang, HYBE 2.0 focuses on fostering future growth centered on music, platforms, and technology. The company aims to solidify its position as a leader in the superfan business while securing long-term growth through tech-driven initiatives.