Big Hit Entertainment will be changing their official company name to HYBE Corporation. The news was announced on the morning of March 10 through a report with Korea’s Financial Supervisory Service.
The name change marks Big Hit Entertainment’s transformation from a management label for Kpop groups like BTS and TXT to a comprehensive content company. This is coming a long way from 2913 when Big Hit was saved from bankruptcy by the massive success of rookie group, BTS. Both of which have become a powerhouse 7 years later.
As of today, the company has multiple subsidiaries, including Source Music, Pledis Entertainment, Belift Lab, and KOZ Entertainment, collectively known as Big Hit Labels. Big Hit Entertainment is home to BTS, TXT and soloist, Lee Hyun.
HYBE Corporation will not only focus in music production and performance, artist management, and digital media, but will also oversee real estate by renting out practice rooms and other spaces for their subsidiary companies and affiliates.
The general shareholder’s meeting covering the name change from Big Hit Entertainment to HYBE Corporation will be held on March 30 KST. Meanwhile, BTS have shared their support for the chance by releasing individual selfies with the hashtag “What do you believe in.” This connects to HYBE’s motto “We Believe In Music,” and change from Big Hit’s “Music for healing.”
— BTS_official (@bts_bighit) March 10, 2021
Fans have had a mixed reaction to the news as Big Ht has been connected to the rise of BTS since 2013. What are your thoughts? Let us know isn’t he comments.