HYBE has announced "HYBE 2.0," a strategic plan aimed at securing a dominant position in the future entertainment industry. The company intends to expand its global fandom business model and innovate in response to the evolving market.
The key components of its strategy include strengthening global strategies, investing resources, enhancing music services, expanding the spectrum of its audience through a global label system including HYBE AMERICA, HYBE LATIN AMERICA, and HYBE JAPAN, and more.
One of the key strategies noticed by Korean netizens was HYBE's decision to hire Kim Young Min, the former president of SM Entertainment, to become the chairman of HYBE JAPAN.
Many Korean netizens gathered in an online community to share their thought on HYBE's latest move and pointed out that Kim Young Min shares similar ideologies with Yoon Seok Joon, the CEO of HYBE AMERICA and the founding contributor of BTS.
Netizens compared the past interviews of both Chairman Kim Young Min and CEO Yoon Seok Joon and highlighted that they both believe there is a perfect equation to creating the perfect idol group.
CEO Yoon Seok Joon's past interview:
Translation: "Recently, we began to feel that we have finally found the right formula and the correct language," said CEO Yoon. "We now believe we understand the optimal way to communicate with fans and build a fandom. We think this formula could potentially be applied to TXT and other artists who will debut later."
Is Big Hit truly onto a successful formula? Can this method really be applied to other groups? If so, what implications does this discovery have for how other companies in the music industry manage their relationships with artists?
Former SM Entertainment President Kim Young Min's past interview:
Translation: "Girls' Generation may eventually disband, but another group will take their place. Because of this, we used to see BoA or TVXQ as individual artists, but now we start to view them as SM's artists. In this sense, the SM brand itself has become a valuable asset."
One Korean netizen shared, "I think they can create another group like BTS or Girls' Generation by applying their successful formula... It seems like HYBE's hiring standards and the traits they seek in talent are quite similar."
Other Korean netizens commented:
"Wow, they even picked up Kim Young Min. They really have no eye for talent, I must admit."
"Fighting to both of them."
"It's truly arrogant to think they can create another group like Girls' Generation or BTS."
"He fits the company well. lol."
"The height of arrogance is thinking they can recreate BTS or Girls' Generation."
"Is there really a formula for success? Creating a moderately successful group might have a formula, but groups like BTS and Girls' Generation... it seems like they tried everything, and everything just happened to work perfectly."
"What is HYBE's formula for success? Know-how? Popularity?"
"If they're so confident in their company system, why haven't they created another group like Girls' Generation or BTS?"
"And yet, they haven't created another group like Girls' Generation yet."
"This is legendary how they picked up Kim Young Min lol."
"They are perfect for each other."
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