HYBE outlines multi-label strategy plans for BTS’ absence
BTS’ agency HYBE has issued a letter to its shareholders discussing its strategy ahead of BTS’ upcoming break due to compulsory national service.
On October 17, HYBE label Big Hit Music announced that all seven members of BTS intend to serve their compulsory military terms without special exemptions, beginning with eldest member Jin later this year. In their statement, the label shared that the group and agency had planned to reconvene some time in 2025.
In the wake of the news, HYBE CEO Park Ji-won reportedly issued a letter to its shareholders outlining how it has planned for the hit boyband’s absence in the coming years. “HYBE is confident in the structure that’s been put in place over the past 10 years,” it said, according to Variety.
Park also reportedly assured investors that the agency had long been preparing for BTS’ eventual military enlistment, promising that HYBE’s multi-label strategy and massive roster of artists will be further developed in the boyband’s absence.
“By giving autonomy to each label, we ensure that a wide variety of music and content are created [and] even healthy competition,” Park said, sharing that HYBE’s artists’ revenue (excluding BTS) had increased by nearly three-fold since 2020.
HYBE currently oversees several independent labels, including Scooter Braun’s Ithaca Holdings, which it merged with through its American subsidiary HYBE America last year. Within South Korea, HYBE also houses Pledis Entertainment, Belift Lab, Source Music and more.
Its roster of K-pop artists include popular boybands like SEVENTEEN, Tomorrow X Together and ENHYPEN, as well as rising rookie girl groups LE SSERAFIM and NewJeans.
