BigHit, a South Korean entertainment company that has made millions thanks to successful band BTS has been taking on contracts for mergers and new kpop groups. A new trademarked name and logo for HYBE has been discovered, under BigHit. Find out what its for by reading this article.
WHAT IS BIGHIT ?
Big Hit Entertainment Co., Ltd. is a South Korean entertainment company established in 2005 by Bang Si-hyuk. The company has multiple subsidiaries, including Source Music, Pledis Entertainment, Belift Lab, and KOZ Entertainment, collectively known as Big Hit Labels.
Its value rose over the years thanks to the global popularity of its first boy group BTS. The company reported revenue of ₩92.4 billion ($82 million) and operating profit of ₩32.5 billion ($29 million) for 2017. Initial estimates valued Big Hit at up to ₩700 billion ($624 million) if entered into an IPO that very month, making CEO Bang the richest in the South Korean entertainment business due to his large shareholding position, and leaving him with personal ownership value of roughly ₩350 billion ($314 million). By October 2018, the company was valued at more than ₩1 trillion. It’s profit and growth has reached even higher, impossible feats in 2019-2020.
Just like BTS, Bighit Entertainment is now known in and outside of Korea, and is very sought after for deals and mergers. Apart from BTS, they have also debuted successful another international successful group TXT.
What Does HYBE Have To Do With BIGHIT
Today some interesting news hit twitter which left armys confused and worried. The Logo for HYBE showed up and many were worried that Bighit were officially changing their original and iconic name. Turns out it was unconfirmed and in its place, came multiple other rumors. Some believe, after reading the description given for HYBE, it might just be a cafeteria for Bighit and its artits. Other news make it seem as if HYBE is the name for a new girl group BIGHIT might be debuting soon.
The trademark was applied for the purpose of advertising, canteen services. But since it also has ‘WE BELIEVE IN MUSIC’ under the logo, its speculated that it might as well be for a merger or a girl group. Another assumption is that it could be a third platform for streaming and live videos such as VLIVE.
There were already some rumors about BigHit Entertainment and Source Music announcing a new K-Pop girl group as well. Last year, the two agencies teamed up with each other and held a ‘Plus Global Audition,’ a worldwide search for members who will form a new K-Pop girl group that is expected to debut in 2021. Applications were open from September 10-28, 2019 for females who were born between 2001 and 2007. The audition took place from October 5-27 in 16 cities across three continents, specifically Los Angeles, New York City, Perth, Singapore, Melbourne, Busan, Gwangju, Osaka, Taipei, Seoul, Tokyo, Kaohsiung, Hanoi, Bangkok, and Ho Chi Minh.
Fans are still waiting for an offical statement on the matter.