HYBE's Innovation Strategy to Solve the Complexity of Business Challenges
Updated: Nov 25, 2021
HYBE is a public company in the entertainment industry, started its business as an idol agency that successfully debuted BTS, the global KPop Boyband group.
In this globalization era, everything in the world is now connected which resulted to "Boundless" - removing barriers between one another. HYBE managed to capture opportunities from the complexity of global challenges, and grew becoming a company that disrupted the entertainment industry in the world.
HYBE understood that the growing challenge complexity requires good collaboration with various stakeholders from different industries, both national and international.
HYBE and its collaborators -- HYBE America, Ithaca holdings -- has just announced its partnership plans that will be implemented in 2022. One of them is launching stories that is delivered in new forms. Through this collaboration, HYBE can involve its artist in the stories and expands their business reach to keep growing in responding to the global challenges.
HYBE's collaboration concept is boundless across industries. The stories will soon to be released not only in the music format, but also in web cartoon, web novel and games.
Not only that, HYBE is also expanding its wings in forming new music group bands. HYBE America in partnership with Universal Music Group will form the global girl group. HYBE Japan will form global boy group that will collaborate with various stakeholders.
To enhance its artists intellectual property, HYBE is exploring the opportunities in NFT (Non-Fungible Token). The company plans to partner with Dunamu, a company that focuses on the digital assets exchange, to transform its intellectual property into digital assets that can be enjoyed by the fans.
The lesson that we can learned from HYBE is that we can respond to the complexity of the challenges in this digital era through collaboration that is boundless, without limitation of countries or industries. By doing this, the business system that we're in will keep improving in order to achieve its target and goals more sustainably.
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