HYBE

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-HYBE Corporation, Official Website

**HYBE Corporation** (Hangul: 하이브), formerly **Big Hit Entertainment** (Hangul: 빅히트 엔터테인먼트), is home to some of the KPOP industry's biggest groups, including BTS, TXT, LE SSERAFIM, and NewJeans. It was founded on February 1, 2005 by Bang Si-hyuk.

## History

### **2005-2020: Big Hit Entertainment**

HYBE Corporation was founded on February 1, 2005 as Big Hit Entertainment, and signed the vocal trio 8Eight in 2007. In 2010, Big Hit Entertainment and JYP Entertainment signed a joint management contract over the boy group 2AM. That same year, Bang Si-hyuk signed RM as the first member of BTS and launched nationwide auditions to recruit the other members of the group. BTS made their debut under Big Hit on June 13, 2013.

In 2012, the company signed Lim Jeong-hee, and the girl group GLAM was formed as a collaboration with Source Music. They were active until 2014, when they disbanded due to a controversy over one of the members, Kim Da-hee, who was sentenced to prison following accusations of blackmailing actor Lee Byung-hun.

Following the end of the joint contract between Big Hit and JYP in April 2014, three of the 2AM members returned to JYP, while Lee Chang-min stayed with Big Hit in order to continue with his solo career and as part of the duo Homme. The year also saw the disbandment of 8Eight after Baek Chan and Joo Hee's contracts with Big Hit ended.

In May 2015, Lim Jeong-hee parted ways with the agency, following the expiration of her three-year contract, and Signal Entertainment Group, a KOSDAQ-listed company specializing in artist management and television production, acquired Big Hit through a KR₩6 billion convertible bond. In early 2017, Big Hit ended their stake relationship with Signal Entertainment Group, which made a full settlement of the bonds.

In February 2018, Homme disbanded after member Changmin's contract came to an end. He left the company to start his own agency, while Lee Hyun continued on as a solo artist. In August, Big Hit Entertainment and CJ E&M released information stating plans to create a joint company. Filed under the name Belift, the company will reportedly be split 52% to CJ E&M, and 48% to Big Hit. It is set to debut a group in 2020. Later that year in October, BTS renewed and extended their contract with the agency for seven more years. Big Hit was voted best investment company of the year at the 2018 Korea VC Awards.

In March 2019, male group Tomorrow X Together (TXT) made their debut under Big Hit. Former CBO Lenzo Yoon was also appointed co-CEO with Bang Si-hyuk, focusing on the business components of the company while Bang will focus on creative production. In July 2019, the agency acquired Source Music, and in August, the video game firm Superb. Thanks to two apps developed by its subsidiary benX, Weverse and Weverse Shop (known as Weply prior to March 9, 2020), *Fast Company* chose Big Hit as the fourth most innovative company of 2020 worldwide.

In May 2020, Big Hit became the majority shareholder of Pledis Entertainment. Big Hit announced that the record label would retain its independence, but its artists (which include boy groups NU'EST and Seventeen, and later on girl group fromis\_9) would be more widely promoted outside of South Korea.

### **2021-Present: HYBE Corporation**

In 2021, Big Hit announced that they would be officially changing their name from Big Hit Labels to HYBE Corporation, to "mark it's start as a comprehensive music company". Bang Si-hyuk had mentioned earlier that the current company label of “Entertainment” was no longer inclusive of everything the agency would be offering. In addition, real estate has also been added to the business purpose. HYBE will rent out practice rooms and auxiliary spaces to their subsidiary companies as well as other affiliates. HYBE already lists music production, performance, management, and internet business as its purposes.  On Friday, March 19, they released multiple videos on HYBE, titled "HYBE: NEW BRAND PRESENTATION", "HYBE: WE BELIEVE IN MUSIC", "HYBE: RESTART", "HYBE: HYPER NOMAD", and "HYBE: ABOVE AND BEYOND".

In April of 2021, HYBE officially merged with Scooter Braun's Ithaca Holdings, home to American stars such as Justin Bieber and Ariana Grande. Ithaca Holdings is now a subsidary of Big Hit America.

It was also announced that Warner Bros. Entertainment Inc was investing almost $450 million USD into HYBE.

## Subsidaries

* Big Hit Entertainment Japan Inc.
* Big Hit Entertainment America Inc.
* beNX Japan Inc.
* beNX America Inc.
* Bnx Co., Ltd.
* Superb Co., Ltd.
* Big Hit Three Sixty Co., Ltd.
* Big Hit IP Co., Ltd.
* TNDJ Inc.
* Borijin Co., Ltd.
* BE:LIFT LAB (co-managed by CJ ENM)
* Source Music
* Pledis Entertainment

1. ↑ Big Hit Entertainment Will Officially Change Their Company Name to HYBE Corporation