Hybe

What Hybe does

Hybe Co., Ltd. (formerly Big Hit Entertainment) is a Seoul-headquartered, publicly-listed entertainment company that operates a multi-label music production system alongside an integrated fan platform and a technology arm, serving global K-pop, Latin pop, country, and global pop audiences. The company was founded by Bang Si-hyuk in 2005, rebranded from Big Hit Entertainment to Hybe in 2021, and completed its KOSPI IPO in 2020 at approximately $7.3 billion. As of Q1 2026, Hybe generated record revenue of 698.3 billion KRW (~$470 million), up 39.5% year-on-year, with the BTS ARIRANG album and world tour (34 cities, 88 shows, projected ~$2 billion in combined BTS and Hybe revenue through 2027) as the primary near-term catalyst.

Hybe's core operations are organized across three pillars: MUSIC, PLATFORM, and TECHNOLOGY. The MUSIC pillar implements a 'Multihome, Multigenre' production system spanning 15+ sub-labels (BigHit Music, Belift Lab, Source Music, Pledis, KOZ, ADOR, ABD, YX Labels, JCONIC, HYBE x Geffen, Blue Highway, Quality Control, ZARPAZO, DOCEMIL, S1ENTO) that produce K-pop (BTS, Seventeen, TXT, Enhypen, Le Sserafim, ILLIT, NewJeans, BoyNextDoor, CORTIS, TWS), global pop (Katseye, Saint Satine), Latin pop (Santos Bravos), and country (Blue Highway Records). The PLATFORM pillar is Weverse Company, the fan community platform powering presales, paid memberships, exclusive content, and live commerce. The TECHNOLOGY pillar comprises Supertone (AI voice synthesis), Drimage (digital imaging), and NEB (technology R&D), unified under the 'Hybe 2.0' strategy repositioning the company as a 'global entertainment lifestyle platform company based on music and technology.'

Hybe makes money through a diversified revenue mix spanning recorded music and album sales (BTS ARIRANG physical albums, CORTIS preorders at 2.4 million copies), concert and touring revenue (BTS Arirang World Tour, Katseye Wildworld Tour via Live Nation, cinema livestreams via Trafalgar Releasing), music streaming and licensing (Spotify, YouTube, YG Plus renewed 8-year domestic deal, K Wave Media global merch targeting $100M+ annually), brand partnerships (Gap 'Better in Denim' generating 8 billion impressions), Weverse paid memberships for fan club presale access and exclusive content, and NFT/digital asset initiatives through the Dunamu partnership. Distribution spans owned channels (Weverse, HYBE India, HYBE Latin America, Hybe America including acquired TAG PR) and partner channels (Universal Music's Geffen Records joint venture, Kia India, Snap India, Shoppers Stop, Arte Museum, Shinsegae Centum City, Airbnb). Despite record revenue, Hybe's share price declined from a 52-week peak of 405,500 won to 248,250 won, and the company faces single-artist concentration on BTS plus an ongoing legal cloud around founder Bang Si-hyuk related to the 2019 pre-IPO share manipulation allegations.

Name

Hybe

Legal name

주식회사 하이브 (HYBE Co., Ltd.)

Website

https://hybecorp.com

Company type

Public

Founded year

2005

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Hybe is a Seoul-based publicly-listed entertainment company operating a multi-label music production system (15+ sub-labels), the Weverse fan community platform, and technology subsidiaries (Supertone, Drimage, NEB), serving global K-pop, Latin pop, country, and global pop audiences under the Hybe 2.0 platform strategy.

Ownership category

akta.pro rank

Product category

Music Entertainment

NAICS

Music Publishers (512230)

akta.pro primary industry

Music Aggregators & DIY Distribution Platforms (MPAIAAAD)

akta.pro secondary industries

Influencer/Creator Marketplaces & Brand Deal Platforms (MPACABAI), Enterprise/B2B Music Streaming (Business Background Music) (MPAIACAJ)

Keywords

• Music entertainment
• K-pop artist management
• Concert touring
• Fan platform services
• Recorded music production

Headquarters

HQ city

Seoul

HQ country

South Korea

HQ region

Asia

Offices6 records

Markets served

GTM type

B2C

Offering type

Digital Commerce or Content

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. Recorded Music & Album Sales: Physical album sales and recorded music revenue; Q1 2026 recorded music revenue doubled to 271.5 billion won driven by BTS album 'Arirang' debut. CORTIS preorders reached 2.4 million copies; BoyNextDoor's debut LP surpassed 970,000 copies sold.
2. Concert & Touring Revenue: Live performance and world tour revenue; BTS Arirang World Tour spans 34 cities and 88 shows, projected to generate nearly $2 billion in revenue for BTS and Hybe. Mexico City three shows projected $107.5M economic impact.
3. Music Streaming & Licensing: Music streaming revenue and licensing; BTS 'Arirang' recorded 739.1 million first-week streams worldwide; distribution through YG Plus (renewed 8-year domestic deal) and K Wave Media (global merchandise distribution targeting $100M+ annual revenue).
4. Concert Video & Merchandise Distribution: Concert video, printed merchandise, and digital codes distribution through Weverse platform; KWM global distribution deal effective April 3, 2026 targeting $100M+ annual revenue.
5. Brand Partnerships & Advertising: Brand collaboration and advertising revenue including Gap x Katseye 'Better in Denim' campaign (~$8 billion impressions, 400M+ views), Spotify Podcast Awards, BTS ARIH food brand expansion, Kia India partnership.
6. Fan Platform Subscriptions (Weverse): Paid Weverse memberships for fan club benefits, presale ticket access, and exclusive content; Weverse ran Katseye World Tour presale for paid members starting May 20.
7. NFT & Digital Asset Revenue: Fandom-based NFT platform developed through strategic partnership with Dunamu; initial 10 billion won investment from Brand X Corporation through convertible bonds.

Pricing tiers

Go-to-market motion1 record

Distribution channels10 records

Core offering

Hybe is a global entertainment lifestyle platform company that produces, distributes, and markets music through a multi-label system managing K-pop and global pop artists such as BTS, LE SSERAFIM, TXT, Seventeen, KATSEYE, and NewJeans. The company operates the Weverse fan community platform, runs technology subsidiaries (Supertone AI voice, Drimage, NEB), produces worldwide concert tours, sells recorded music and merchandise, and executes brand partnership campaigns for global brands.

Product overview

Hybe operates a platform-plus-modules architecture built on three pillars: a multi-label MUSIC ecosystem (BigHit Music, Belift Lab, Source Music, PLEDIS, KOZ, ADOR, ABD, YX LABELS, JCONIC, HYBE X Geffen Records, Blue Highway Records, Quality Control Media Holdings, ZARPAZO, DOCEMIL MUSIC, S1ENTO Records) implementing a 'multi-home, multi-genre' strategy across K-pop, country, hip-hop, Latin, and global pop; a PLATFORM layer centered on Weverse Company, the official fan community platform; and a TECHNOLOGY arm of NEB, DRIMAGE, and AI-focused SUPERTONE that converge content and technology under the 'Hybe 2.0' vision of becoming a 'global entertainment lifestyle platform company based on music and technology.' Artist groups managed under these labels include BTS, LE SSERAFIM, ILLIT, KATSEYE, BOYNEXTDOOR, CORTIS, TWS, TXT, &TEAM, NewJeans, Santos Bravos, Saint Satine, and the unnamed first girl group under ABD.

Differentiator

Problem solved

Functional benefit

Brands

• BIGHIT MUSIC: K-pop label managing BTS, TXT, and CORTIS
• BELIFT LAB
• SOURCE MUSIC
• PLEDIS ENTERTAINMENT
• KOZ ENTERTAINMENT
• ADOR
• ABD (A Bold Dream)
• HYBE X Geffen Records
• WEVERSE

Products and services

• Weverse Platform

Quantifiable outcome

• $470.2 million Q1 2026 revenue, up 39.5% YoY (record)
• +7 more outcomes

Named customers9 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability1 record

Feature5 records

Partnerships

19 partnerships are on record, tiered core, minor and flagship.

• NexcoreStrategic or Co-development Partner · 22 June 2026Partnership to bring a BTS-branded music experience to Nex Playground, Nex's first-ever co-branded Starri edition. Uses controller-free motion-tracking technology for full-body BTS gameplay.
• Shinsegae Centum City / GoraesaminorGTM or Marketing Partner · 11 June 2026Local brand partnerships for 'BTS THE CITY ARIRANG BUSAN' urban cultural project; Shinsegae Centum City hosting BTS POP-UP merchandise exhibition; Goraesa as official food and beverage partner.
• Arte Museum / D'strictcoreGTM or Marketing Partner · 22 May 2026Official partner hosting 'BTS The City Arirang' immersive exhibition translating BTS's fifth studio album into visual installations in Las Vegas, traveling to Busan and New York.
• YG PlusflagshipChannel Partner/ Reseller/ Distributor · 19 May 2026Renewed 8-year domestic distribution partnership for HYBE Music Group's albums and music content in South Korea. Strategic partnership to enhance distribution competitiveness, fan engagement, and marketing activities.
• Live NationcoreChannel Partner/ Reseller/ Distributor · 14 May 2026Producing KATSEYE 27-city arena world tour across Europe and North America from September 1 to November 27.
• Snap Inc. (Snapchat)coreGTM or Marketing Partner · 11 May 2026AR-powered audition process on Snapchat targeting India and diaspora for new global girl group; dedicated Audition Lens and educational content on HYBE India's Snapchat profile.
• AirbnbminorGTM or Marketing Partner · 10 May 2026Discounted accommodation promotion for Seventeen Carat fan club during 10th anniversary fan meeting (June 20-21); up to 7% off bookings capped at 20,000 won.
• Hana SecuritiesminorOthers · 29 April 2026Analyst Lee Ki-Hoon released report on June 10 predicting NewJeans comeback by October 2026 as potential catalyst for HYBE's performance.
• Kia IndiacoreGTM or Marketing Partner · 28 April 2026Automotive partner for HYBE India's nationwide music auditions; Kia India 2026 Syros vehicle featured at pop-up events across six cities.
• SM Entertainment, JYP Entertainment, YG EntertainmentflagshipStrategic or Co-development Partner · 16 April 2026Joint venture to launch global K-pop festival 'Fanomenon' (Korean Coachella). Plans to launch in South Korea December 2027, expand globally from May 2028. Submitted required report to South Korea's Fair Trade Commission. Supported by Presidential Committee on Popular Culture Exchange.
• Shoppers StopminorGTM or Marketing Partner · 11 April 2026Collaboration with HYBE India for 'Get Spotlight Ready' campaign at Mumbai Juhu store; promoting global girl group auditions.
• Trafalgar ReleasingcoreChannel Partner/ Reseller/ Distributor · 10 April 2026Partnership with HYBE and BigHit Music to livestream BTS ARIRANG world tour concerts in cinemas across 34 cities, starting Korea April 9, 2026.
• K Wave Media (KWM)coreChannel Partner/ Reseller/ Distributor · 3 April 2026Global exclusive distribution agreement for concert videos and printed merchandise covering BTS, SEVENTEEN, LE SSERAFIM and others. Targets $100M+ annual revenue; capitalizes on BTS 2026 world tour projected at $1.45 billion revenue.
• Gap Inc.coreGTM or Marketing Partner · 1 August 2025Katseye x Gap 'Better in Denim' campaign released August 2025, generated ~8 billion impressions and 400M+ views. Won Webby Awards. CEO Richard Dickson described as 'cultural domination'.
• The Agency Group PR LLC (TAG PR)coreStrategic or Co-development Partner · 21 September 2024Hybe acquired 51% stake in Santa Monica-based US PR agency for $25 million through Hybe America. TAG PR consolidated as subsidiary to enhance US PR capabilities.
• EggiscomingminorStrategic or Co-development Partner · 1 January 2024Co-production partnership for 'Nana Tour with Seventeen' (2024); show became global hit sold to 146 countries with highest VOD sales in SEVENTEEN's history on Weverse.
• CJ ENMcoreStrategic or Co-development Partner · 10 August 2023Original co-owner of Belift Lab; HYBE acquired CJ ENM's 51.5% share for approximately $114 million to make Belift Lab a wholly-owned subsidiary. Continued cooperation for global promotion of K-culture.
• Geffen Records (Universal Music Group)flagshipStrategic or Co-development Partner · 1 January 2023Joint venture to form and promote global girl groups through audition-based programs. HYBE x Geffen Records launched Katseye in 2024 and Saint Satine in 2026. Strategic 'multihome, multigenre' partnership for globalizing K-pop training system.
• DunamucoreStrategic or Co-development Partner · 9 November 2021Strategic partnership to develop a fandom-based NFT platform; both companies involved significant capital investments. Hybe entered NFT business with 10 billion won investment from Brand X Corporation.

Scale indicators17 records

Recent moves10 records

Expansion highlights9 records

Direct peers

• SM Entertainment: One of the original 'Big 4' K-pop agencies managing EXO, aespa, NCT, Red Velvet, and others; a Fanomenon JV partner with HYBE. Direct competitor in K-pop label operations, artist development, concert touring, and global expansion, with publicly disclosed financials and similar multi-label growth ambitions.
• JYP Entertainment: Big 4 K-pop agency managing TWICE, Stray Kids, ITZY, NMIXX; a Fanomenon JV partner. Direct competitor in multi-label artist development, K-pop production, and global touring, and a co-signatory to the inter-agency festival initiative.
• YG Entertainment: Big 4 K-pop agency managing BLACKPINK, BABYMONSTER, TREASURE; a Fanomenon JV partner. Competes directly in K-pop label operations, idol training pipelines, and global touring economics; also a partner via YG Plus's 8-year domestic distribution renewal with HYBE.
• Kakao Entertainment: Korean entertainment platform combining music (Melon streaming), K-drama production, and talent management (e.g., IVE via Starship). Direct competitor in the integrated entertainment platform layer that HYBE 2.0 is targeting, and operates the largest domestic music streaming platform.
• CJ ENM: Korean entertainment conglomerate that previously co-owned Belift Lab with HYBE before selling its 51.5% stake for ~$114M in 2023. Competes in K-content production, idol training (via Wake One/Stone Music), and broader entertainment platform economics with overlapping artist rosters.
• Tencent Music Entertainment: China's largest music streaming platform (QQ Music, Kugou, Kuwo); competes with HYBE in Asian music distribution, fan monetization, and K-pop catalog access for the Chinese market — and represents both a partner opportunity and a structural gating risk for HYBE's China exposure.

Broad incumbents

• Universal Music Group: Global major label home to Taylor Swift, Drake, and others; HYBE's JV partner via Geffen Records for KATSEYE and Saint Satine. Competes broadly in global pop and recorded music distribution, but not in K-pop label specialization; a partner in cross-border artist development.
• Warner Music Group: Global major label with broad recorded-music and publishing portfolio; competes with HYBE for global pop share and for Western artist-manager talent, though it does not specialize in K-pop production.
• Sony Music Entertainment: Global major label and home to Columbia/Epic/RCA; competes with HYBE in recorded music distribution and global pop artist development, with strong J-pop and anime-adjacent crossover assets that overlap with K-pop's Asian music ambitions.

Others

• Live Nation Entertainment: Global concert promotion and ticketing giant; currently partnering with HYBE on the 27-city KATSEYE Wildworld Tour. Functions as both a critical infrastructure enabler for HYBE's touring economics and an industry-wide competitor for live-event capture, with significant platform power over ticket distribution and fan data.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat8 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/HYBEOFFICIALtwt
• Facebookfacebook.com/HYBEOFFICIALfb
• LinkedInlinkedin.com/company/hybe-edu

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Subsidiaries22 records

Funding overview

Funding rounds3 records

Investors4 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A3 records

Investments17 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Hybe