HYBE named on TIME Magazine's list of 100 Most Influential Companies
HYBE, the Korean entertainment lifestyle company formerly known as Big Hit Entertainment, has been named on TIME Magazine's list of 100 Most Influential Companies, along with some of the most powerful names in the world such as Apple, Delta, Sony Music Group and Twitter.
TIME released the list Tuesday, mentioning HYBE as a pioneer for "Creating a BTS-fueled empire," likening it to entertainment conglomerate Disney. HYBE and Samsung were the only Korean companies that made it to the list.
"South Korea’s biggest public listing in three years came in October courtesy of the country’s most popular export: K-pop," said TIME.
"Founded in 2005, HYBE — formerly known as Big Hit Entertainment — was once an underdog talent agency in South Korea’s competitive music industry. But thanks to supergroup BTS — arguably the biggest band in the world — the company is in rarefied air."
TIME compared HYBE to Disney, which "looks at each of its acts as intellectual property to be developed into a universe of fan-friendly experiences and products," taking the examples of "everything from logos on Samsung smartphones to virtual Fortnite parties."
After going public last year, HYBE invested in YG Entertainment, a "former rival" as described by TIME, to establish a stronghold of entertainment companies centered around HYBE and its subsidiaries. It also purchased Ithaca Holdings this month, welcoming pop stars Justin Bieber and Ariana Grande to its family.
TIME's list of 100 Most Influential Companies kicked off for the first time this year, and started from the question, "Which companies are shaping our future?" It gathered nominations from all sectors of business around the world from its network of editors and correspondents.
BY YOON SO-YEON [email@example.com]