The overall shareholder letter reflects the confidence that the music industry can continue to innovate through the advancement of multi-label strategy and the convergence between the music industry and technology.
HYBE announced that BTS military service will be done sequentially. As a result, the individual activities of some members will continue until the first half of 2023, and it is expected that the group will resume activities around 2025.
HYBE distributed a shareholder letter containing growth strategies during BTS’ military service immediately after announcing the ‘Bulletproof Boy Scouts Activity Guide.’ HYBE decided to produce music and artists through a multi-label strategy continuously. In addition, it plans to introduce more diverse experiences by incorporating new technologies into the platform and solution business.
For the past three years, the sales of HYBE Label’s artists, excluding BTS, have grown more than three times a year on average. In addition, in the company’s consolidated sales this year, HYBE label artists, excluding BTS, are expected to account for 35-40%.
Moreover, as the uncertainty caused by COVID-19 is lifted, the performance sector is expected to achieve more significant growth. In 2023, more than four new teams will debut in Korea, Japan, and the United States to strengthen their influence in the global music market.
The launch of Weverse Live, a live-streaming platform for the BTS band, has secured the ability to broadcast large-scale events such as concerts. HYBE is also preparing a subscription service that allows fans and artists to communicate in a new way and pushing to expand Weverse stores for overseas artists, such as in the US and Japan.
In the game business, ‘In the Island with BTS,’ successfully launched in the second quarter, will be continuously updated and expanded simultaneously. In addition, Superton, which was recently acquired, has established itself as a major axis in the technology field, introducing new types of content and services.
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