HYBE's founder and chairman, Bang Si Hyuk, and Global CEO, Yoon Seok Jun, are included in this year's list of "Indie Power Players" by Billboard.
Keep on reading to know more.
HYBE's Bang Si Hyuk and Yoon Seok Jun Selected by Billboard as "2021 Indie Power Players"
On June 7 local time, Billboard released the list of "Indie Power Players" for this year on their official website. "Indie Power Players" is a list in which Billboard selects and announces the leaders and executives of labels and distributors, and associations that have achieved independent success in the global music market
IN CASE YOU MISSED IT: Bang Si Hyuk Enters Forbes' 'Korea's 50 Richest People'
The industry leaders in the list are nominated by their companies and peers and are selected by Billboard's editors, regardless of their company size, or by their ownership through entities other than the three major American music labels such as Universal Music Group, Sony Music Entertainment, and Warner Music Group.
Billboard also analyzed that the independent music sector has been thriving despite the challenges the past year has brought, such as tour cancellations, shutdown of offices, surge in social music platforms, and vinyl supply backlog, with the market share of individual labels and artists increasing from 29.7 percent to 31.1 percent in 2020.
IN CASE YOU MISSED IT: HYBE Selected as the Most Influential Company in the World by TIME Magazine
Included in the list of "Indie Power Players" are HYBE's founder and chairman, Bang Si Hyuk, and Global CEO, Yoon Seok Jun. Billboard adds the fact that HYBE, formerly Big Hit Entertainment, has acquired Scooter Braun's Ithaca Holdings, which provides artist management, label services, and publishing functions for world-renowned artists such as Ariana Grande and Justin Bieber. In addition, HYBE's Weverse has acquired Naver's V-Live, and the company established a partnership with Universal Music Group.
The marks the second time that Bang Si Hyuk has been included in the list of "Indie Power Players" following last year in 2020. In addition, Bang Si Hyuk and Yoon Seok Jun were also selected in Billboard's "2021 International Power Players" back in April, continuing to prove their influence as innovation leaders in the global music market.
IN CASE YOU MISSED IT: HYBE Reveals Sales and Profit for First Quarter of 2021 and Plans for Ithaca Holdings
HYBE, which is currently being led by chairman Bang Si Hyuk and Global CEO Yoon Seok Jun, is rapidly growing as an entertainment and lifestyle company. HYBE has built a business structure based on its artist lineups such as BTS, SEVENTEEN, TXT, and ENHYPEN, along with their competitive global platform, Weverse.
Meanwhile, HYBE had acquired Ithaca Holdings and its subsidiaries earlier this year with a 1.7 trillion won ($1.5 billion USD) stake, in the hopes that the integration of both companies transcends boundaries in the global music market.
For more K-Pop news and updates, always keep your tabs open here on KpopStarz.
KpopStarz owns this article.
Written by Robyn Joan
