HYBE Corp.

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HYBE Corp. transformed K-pop globally through boy band BTS and fan engagement.

© ANTHONY WALLACE —AFP/Getty Images

HYBE Corp. is a South Korean global entertainment company established in 2005 by Bang Si-hyuk, an entrepreneur, composer, and music executive. Founded as Big Hit Entertainment Co., Ltd., the company has grown to become a multinational corporation with subsidiaries specializing in music production and publishing, talent and event management, and concert production.

Upon its founding, HYBE entered the K-pop industry—a genre of popular music originating in South Korea that blends elements of pop, hip-hop, rhythm and blues, and electronic music. It competed directly with the big three K-pop producers at the time: SM Entertainment, YG Entertainment, and JYP Entertainment.

HYBE disrupted common management and production practices in the K-pop industry by engaging fans directly through social media and diversifying its content beyond music to include webtoons, games, and original stories. This differentiated strategy—most evident through its flagship act, BTS—helped transform the company into a global entertainment conglomerate.

HYBE has been a leader in popularizing K-pop in the U.S. and other Western countries. The company’s embrace of social media and fan-driven content has changed how music is made and shared, helping to bring fans and artists together worldwide.

HYBE Corp. operates from HYBE HQ, its headquarters in Seoul that houses its core creative and administrative teams, and owns three international subsidiaries:

HYBE’s operations have three pillars:

In South Korea, HYBE’s top acts include the company’s lead group BTS, Seventeen, Tomorrow X Together (TXT), Lee Hyun, and the boy band &Team. Among its popular female groups are NewJeans and Le Sserafim.

HYBE America’s top artists have included Ariana Grande, Justin Bieber, and Lil Baby through their association with Scooter Braun’s talent management. Braun became CEO of HYBE America in January 2023. Katseye, one of HYBE America’s earliest signings in collaboration with Geffen Records, marks a significant step in the company’s vision toward creating content that represents an array of cultures. 

Big Hit Entertainment (Big Hit), the company that evolved into the global music powerhouse known as HYBE Corp., was founded on February 1, 2005, by Bang Si-hyuk, a composer, producer, and hitmaker from record label and production company JYP Entertainment.

The first K-pop act the company signed to gain traction on the South Korean music charts was vocal trio 8Eight, which debuted in 2007. The group included singer Lee Hyun, whose solo career continued after 8Eight disbanded seven years later.

In 2010, Big Hit partnered with JYP Entertainment, Bang’s former employer, to comanage 2AM, its second South Korean boy group that would also see widespread success in the K-pop market.

That same year, Bang signed an independent South Korean rapper—Kim Nam-joon, aka Runch Randa (Rap Monster) but better known now as RM—who was part of the underground hip-hop scene. He went on to become the first member of BTS. In its early years, Big Hit faced several challenges, including a scandal in 2012 involving the girl group Glam. Group member Kim Da-hee was sentenced to one year in prison for blackmailing actor Lee Byung-hun. The fallout from the incident led to Glam’s disbandment three years later.

In 2013, Big Hit debuted BTS, its top-billed act and the driving force behind its global success. The group embodied Big Hit’s vision of a new kind of K-pop: Alongside rigorous training and multilingual education, Bang Si-hyuk adopted a less restrictive management style for his artists, especially in songwriting and fan interaction.

By adopting these practices, Big Hit overtook its big three competitors in market capitalization, sales, and global impact, writing the blueprint for modern K-pop success.

In 2014, Big Hit severed its partnership with JYP, losing artists 2AM and 8Eight. The split proved pivotal, allowing Big Hit to focus most of its resources on developing BTS, then still in its early stages of growth.

In 2017, Big Hit made its first foray aimed at international expansion by founding Big Hit Entertainment Japan, through which the company promoted BTS’ The Wings Tour in Japan and the Japanese versions of “Mic Drop,” which reached No. 1 on Billboard Japan’s Top 100, and singles “DNA,” and “Crystal Snow,” both of which made it to Billboard Japan’s Top 20. 

In 2019, BTS released its all-English single, “Dynamite,” which led to the group’s meteoric success in the U.S. and other Western nations. BTS’ triumph in generating international demand allowed Big Hit to expand and eventually diversify its portfolio of assets.

Also in 2019, Big Hit debuted TXT (Tomorrow X Together), its second boy group, further solidifying its position as a leading K-pop agency both domestically and internationally. That same year, it acquired Superb, a game developer specializing in music-based games, and Source Music, a South Korean record label and talent agency. The following year, Big Hit expanded further by acquiring another music label and talent agency, Pledis Entertainment, home to the group Seventeen.

In April 2019, Big Hit established its U.S. headquarters in Santa Monica, California, forming Big Hit America, with chief executive officer Yoon Suk-joon and American record executive Scott Samuel “Scooter” Braun leading the new subsidiary.

In addition to expanding its influence in the K-pop market, Big Hit’s acquisition highlighted the company’s strategic decision to focus on technologies geared toward interactive fan engagement. This vision was exemplified with the 2019 release of Weverse, an innovative app designed to connect artists with their fans.

In March 2020, Fast Company named Big Hit one of its most innovative companies of the year. Seven months later, the company issued its IPO on South Korea’s KOSPI, the country’s main stock exchange, achieving a market capitalization of 8.7 trillion South Korean won ($7.6 billion) by the close of its first trading day.

In 2021, Big Hit renamed itself HYBE Corp. to better reflect its expansion beyond music and toward a wider range of services. HYBE positioned itself as a global entertainment and media company focused on music, fan engagement, and multimedia content. The name change coincided with a reorganization of the company’s operations into three segments: labels, solutions, and platforms.

Shortly after restructuring, HYBE acquired Ithaca Holdings, a Los Angeles–based media holding company whose roster included Justin Bieber and Ariana Grande. The acquisition marked HYBE’s entry into the U.S. market.

In 2022, HYBE inked a deal with Walt Disney Company Asia Pacific to stream original programming on Disney+. The lineup included a BTS concert film from Los Angeles, a travel reality show featuring K-pop stars and media celebrities, and a BTS documentary.

HYBE also ventured into blockchain technology by launching a non-fungible token (NFT) project with financial technology (fintech) company Dunamu. The project faced significant challenges, mainly environmental concerns raised by fans and the general public.

In 2023, HYBE kicked off its expansion into Latin American music by acquiring the label Exile. The move led to the founding of its Mexico-based subsidiary HYBE Latin America, which plans to begin major operations in 2025. 

In August 2024, HYBE began a major restructuring to improve its ability to compete globally. Known as HYBE 2.0, the plan aims to broaden its product offerings, tailor its operations to different regions, and pursue other key initiatives.

Under the leadership of CEO Jason Jaesang Lee, HYBE reorganized its operations into three pillars: labels, solutions, and platforms. The labels pillar focuses on the company’s music production and artist management operations, while the solutions and platforms pillars drive the company’s growth in technology and various supporting operations like IP management and merchandising that complement the company’s music business.

HYBE Music Group APAC was formed to manage all music labels in South Korea and Japan. It is also working to establish operations in multiple countries and explore and produce various music styles (beyond K-pop) in local and international markets.

HYBE America, led by Scooter Braun, was given responsibility for developing a management division focused on signing new artists in partnership with Geffen Records. Meanwhile, HYBE Latin America plans to build production studios in Mexico, with operations set to start in 2025.

HYBE America’s signing of Katseye embodies the company’s vision of hybrid cultural production. Based in Los Angeles, Katseye is a “global” K-pop group with six female singers from diverse countries and cultural backgrounds:

On the tech front, HYBE’s Weverse is launching a subscription tier in December 2024 featuring several new fan club benefits such as ad-free video streaming, offline storage for on-demand content, and digital currency. HYBE is also continuing investments in artificial intelligence (AI) and gaming.

As HYBE has grown into a global entertainment powerhouse, it has faced its share of disputes and criticisms.

One prominent controversy involving HYBE was its clash with its subsidiary Ador, led by CEO Min Hee-jin, the creative force behind Ador’s flagship girl group NewJeans. The dispute revolved around creative and management control, with Ador accusing HYBE of copying the NewJeans concept. The conflict escalated into a bitter, highly publicized legal battle over HYBE’s alleged overreach and Ador’s autonomy as a sub-label.

South Korea’s Fair Trade Commission launched an investigation into HYBE alleging the company falsified documents and omitted information in its mandatory filings. Despite the probe, HYBE was the first K-pop company listed as a major conglomerate by the antitrust regulator.

In 2024, three HYBE employees faced charges for insider trading. Prosecutors accused the employees of selling HYBE shares in 2022 shortly before BTS publicly announced its hiatus due to mandatory military service. The news caused HYBE shares to plunge 25%. 

Despite these controversies, HYBE has evolved from a regional music production company into a global entertainment leader. By leveraging its K-pop roots, innovative technology, and cross-cultural approach to entertainment, HYBE has redefined how music is created, distributed, and consumed globally.