On their March 19 presentation Big Hit Entertainment announced their new name HYBE, which symbolizes “connection, expansion, and relationships.” The viewing was streamed on their official YouTube channel.

Bug Hit Entertainment is not disappearing as many fans feared, rather under the new name, HYBE will be a “bigger vessel for Big Hit to nestle in.” Made up of HYBE HQ and HYBE America, the company will consist of HYBE Labels, HYBE Solutions, and HYBE Platforms.

HYBE labels will consist of all the music brands including Big Hit Music, BELIFT LAB, Source Music, Pledis Entertainment, KOZ Entertainment, and HYBE Labels Japan. HYBE Solutions will include business units specialized in video content, IP, education, games, and more, while HYBE Platforms will include Weverse Company.

Chief Brand Officer, Min Hee Jin gave a preview of the company’s new building in Yongsan. “The HYBE space is one that is flexible and reflects the characteristics of an entertainment industry by realizing the values of horizontal communication, flexibility, and connectivity.” The new building will consist of a “HYPER Concept” that will accommodate the employees’ different needs but also allow them to easily come together and disperse on a project-by-project basis. Rather than excessive decoration, the building is focused on functionality.

The interior is made of three sections: entertainment production, office space and welfare space. It will also include Film Studios, Dance Studios, and Production Studios for each label which will allow artists to be creative without needing to share or schedule time in the studios

Bang Si Hyuk stated, “We are embarking on a new journey in HYBE with a new mission, space, and organization structure. But as always, our fundamentals will not change. We will continue to believe in the power of music innovate, the industry, spread positive influence, and bring changes to lifestyles.”

Watch the full presentation below.