Did a netizen predict what would happen to HYBE back in 2021?

AKP STAFF

Following the latest controversies surrounding HYBE, Korean netizens have revisited an old online community post from 2021 that talked about the future outlook of HYBE.

One netizen wrote a post on Nate Pann titled, "Why HYBE Seems Destined to Fail" on August 21, 2021. The post received over 100,000 views and explained the problems that were evident in HYBE's management system. The netizen explained, "If HYBE wanted to maintain its status as a major entertainment company even after BTS's peak, they never should have randomly acquired smaller companies just to expand in size like they’re doing now."

The netizen further explained, "That approach works in IT sectors like Kakao, but in entertainment, there’s only one way to survive—by recruiting the right ‘people.’ The key to growth from a mid-tier to a large company is to discover 'stars' who will resonate with the public and hire staff members with the creative planning skills to turn these stars into major celebrities."

They also pointed out that SM and YG did not acquire other smaller entertainment companies after a few of the successes of their artists, such as TVXQ and Big Bang. The netizen explained, "Did SM or YG randomly acquire smaller companies after the success of TVXQ and Big Bang, just for the sake of growth? No. Instead, they were extremely cautious about debuting new acts, focusing on better-quality music, improving concepts, and more rigorous training. They only debuted acts that were well-prepared."

The netizen criticized that HYBE has, instead, acquired other companies to absorb the other popular K-pop artists under them. The netizen explained, "So, what is HYBE doing now? Their dependence on BTS is so strong that they’ve merged with companies like Pledis and Source Music, then completely changed the concepts to suit their own preferences. They claim these companies still operate independently, but fans can tell that all the staff, concept directors, and managers handling the groups have changed."

They continued, "Seventeen has mostly remained unchanged because the members are heavily involved in their own music and choreography, but there are still moments where you can feel a lack of understanding, like suddenly introducing retro themes with 'Home; Run.' It’s clear the company doesn’t fully understand the group.

For GFRIEND, they didn’t understand the group at all and just forced them to fit into HYBE’s vision. When the results didn’t meet their expectations, they unilaterally disbanded them. Right now, Le Sserafim is the only girl group under HYBE, and if they don’t achieve the expected level of success, there’s a strong possibility they could face disbandment, just like their predecessors..."

The netizen also harshly criticized HYBE for treating girl groups as expendable projects and not knowing the proper way to nurture a new group. They shared, "They have a ton of money, but no talent, and they don't know how to use it properly. They’re spending billions to acquire this company and that company, but they’re just expanding their size without actually utilizing the artists that they’ve brought in. In other words, they’re wasting a huge amount of money. Even major companies face criticism and losses when debuting new acts in the beginning, but HYBE seems to avoid this by choosing a more 'cost-effective' method of bringing in already well-known artists with established fanbases. I'm certain that by the time BTS goes to the military and their contracts end, HYBE will have only expanded in size without really establishing a solid foundation and this will ultimately lead them to fail."

Korean netizens agreed with the post and were impressed with the accuracy of the post from 2021.

They commented:

"Back then, HYBE kept boasting that their rivals weren't SM or JYP, but rather Naver and Kakao, and they went around saying it so much that even some clueless people were brainwashed into believing it. But now, instead of becoming an IT platform giant, they’re just heading for failure."

"While claiming to reduce their dependence on BTS, they’ve been focusing on things like BTS pop-up exhibitions, merch, and games. During BTS's successful period, they let go of the good people, damaged successful idols and caused internal conflicts between labels. If they can’t handle this, failure is inevitable. I hope everyone leaves HYBE safely."

"Big Hit has been focused on BTS for over 10 years, and who knows if they’ll even have a good follow-up after BTS? The only girl group album I considered buying was NewJeans, but... sigh."

"Wow, it’s really chilling... Bang Si Hyuk seems even more incompetent than the person who wrote this. Even though the current HYBE idols are making money like crazy, the management is just wasting it all with their stupid decisions, leaving the artists to suffer."

"Is this really the company that wanted to reduce its reliance on BTS? It seems like now all they’re doing is desperately waiting for BTS to return after they complete their military service."

"You have great insight. Even after successfully discovering and debuting (Stars) NewJeans, they’re still making things difficult for them, with a mindset worse than a small company."

"When HYBE was acquiring companies and causing a stir, there were a lot of fans who were upset about it."

"It feels like this post was written by someone who used to work at HYBE."

"This post was from 3 years ago. Their observation is so accurate."

"Insight aside, what's more surprising is the boldness for the netizen to write this publicly at that time. Honestly, they could have been heavily criticized by the fandom, yet they were able to honestly express what they felt."