HYBE is one of the most influential companies in the world, according to TIME Magazine.
Keep on reading to know more.
HYBE Selected as the Most Influential Company in the World by TIME Magazine
TIME Magazine, an American news magazine, released on April 28 KST a new list for their iconic TIME100 franchise called "TIME100 Most Influential Companies." The list shares with us the 100 companies who are shaping the future and have made a remarkable impact around the world.
According to TIME Magazine, they chose the companies based on nominations in different sectors from their network of industry experts, editors and correspondents. TIME Magazine also took into consideration a company's relevance, innovation, impact, leadership, ambition and success.
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HYBE was introduced in the list as one of the pioneers, who created a "BTS-fueled empire."
According to TIME Magazine, HYBE is South Korea's biggest public listing within the last three years - thanks to the country's biggest export and economic drivers: K-Pop. Formerly Big Hit Entertainment, the company was founded in 2005 by Bang Si Hyuk and was considered an underdog talent agency within South Korea's competitive music industry.
But with BTS's continuous rise and global popularity in the global music industry, HYBE rose to prominence as well. The company looks at its artists as intellectual property to be developed into experiences and products that are fan-friendly, said TIME Magazine.
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Check out the complete list in TIME's "TIME100 Most Influential Companies" here.
HYBE on the Rise with Mergers and Partnerships
In January 2021, YG Entertainment announced that the company will be joining forces with HYBE to expand their distribution in various areas such as content and media. This came after reports that HYBE invested 70 billion won (approximately $63 million) in YG Plus.
According to a joint statement release by HYBE and YG Entertainment, the two companies will be utilizing each other's platforms to grow as the best in their respective fields. YG Entertainment's artists and content will be added to HYBE's Weverse, a global fan platform. While YG Entertainment aim to create an innovative model for fans and will distribute HYBE's artists' products.
In April, HYBE announced its acquisition of U.S-based Ithaca Holdings and its subsidiaries with a 100 percent stake, investing 1.7 trillion won ($1.5 billion) worth of shares. Ithaca Holdings houses world-renowned artists such as Justin Bieber, Demi Lovato, Ariana Grande, J Balvin and more, adding them to HYBE's artist lineup.
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What are your thoughts on HYBE being selected as one of the most influential companies by TIME Magazine?
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Written by Robyn Joan
