Big Hit Entertainment, entertainment production company behind BTS, to be renamed HYBE Corporation

The name Big Hit Entertainment will soon cease to exist as the South Korea based entertainment production company is changing its name. As reported by Variety (), Big Hit Entertainment which launched the K-pop boy band BTS will soon become HYBE Corporation. Although the name change is waiting for an approval from the shareholders, HYBE Corporation has already been registered with the Korean company regulatory authorities. Representatives from the company have confirmed the name change but have refused to provide further information, reported Variety. It is expected that the company authorities will be discussing this development with the shareholders on Tuesday, 30 March in the annual general meeting. The company which manages groups like BTS, TXT and singer Lee Hyun is possibly aiming to position itself as a lifestyle platform company, breaking away from the image of being only an artist-management firm. The founder and Chief Executive Officer of Big Hit Entertainment, Bang Si-Hyuk, has said that the word ‘entertainment’ in the company’s name was not inclusive of all the things that they are offering. He further added that, by dropping the word entertainment, they will have an image of a general content group, which is what they aim to achieve, reported Koreaboo.  Big Hit Entertainment has multiple subsidiaries under the Big Hit Label including music production company Source Music, Pledis Entertainment and KOZ Entertainment. Apart from music production, performance management and internet business, HYBE production will reportedly be adding real estate to its list of businesses. The corporation will be renting out practice spaces to its subsidiaries. Apart from the name change, the annual general shareholders meeting will also be addressing the appointment of Bang Si-Hyuk as the company’s internal director. The boy band BTS, managed by Big Hit, is one of the most famous K-pop bands. The group has been nominated at the 63rd Grammy Awards for its song Dynamite in the Best Pop Duo/Group Performance category.