The Key Learning of BTS' Extraordinary Achievements
Updated: Oct 11, 2022
Starting from HYBE's awareness on the essence of music, HYBE established an ecosystem where artists could really love music and express issues around them through music. HYBE, which used to be a music label company that almost went bankrupt, is optimistic about expanding its business to be a part of the industry.
BTS’ Achievements in 2021
“Dynamite” hits 1 billion streamed on Spotify
Top 5 artists with the most streams globally on Spotify for the first time in #SpotifyWrapped
4 music videos hit 1 billion views on Youtube: "Dynamite", "FAKE LOVE", "MIC Drop" & "IDOL“
3 Billboard Hot 100 number one hits: “Butter”, “Permission to Dance”, “My Universe”
Best-selling artist in Gaon reached 7.2 million physical copies
Best-selling artists by revenue on Oricon.
#1 best selling album in Japan this year: "BTS, THE BEST"
4 sold-out shows at SoFi Stadium and the sixth highest-grossing show in Billboard Boxscore history.
The first Asian Artist of The Year at the American Music Awards
Released "Butter" remix with Megan Thee Stallion, which got the biggest first-day record on Spotify with 6.7 million streams
"Dynamite" topped Apple's "Top Songs Of 2021: Global" Music
Behind these achievements, there are strategies and the mutual collaboration between HYBE and BTS. The following are the key success strategies:
Business in the music industry is very competitive. The required quality that artist must reflect in order to stand out is pretty complex - ranging from singing, songwriting, dancing, performing shows, and many more. HYBE established and implemented a system that regulated the connection between artists, producers, choreographers, dancers, and other staff involved.
“A person is born with a talent but nurtured to a certain extent by environment, effort, and system” - Lenzo Yoon, HYBE Coorporation's Global CEO
Unique Content Strategy that Prioritizes Empathy
For the marketing effort, HYBE implemented creative strategies that tells touching stories highlighting on the idol characteristics. HYBE delivered various promotional contents that are unique in the form of variety shows (RUN! BTS, Bon Voyage), publications (WeVerse Magazine), and a collaborative webtoon with Naver. HYBE is very experimental in exploring new platforms to deliver its promotional contents.
HYBE saw the need for a platform where fans from around the world can gather and communicate with their idols across languages and time zones. WeVerse, a social media platform that functioned as the official “interaction playground” between fans, idols, and companies for growing together in the music industry. Fans can enjoy all services such as watching content, live streaming and buying merchandise through the platform. This platform is more than just a communication platform.
Collaboration without boundaries
HYBE collaborates with international companies such as Universal Music Group and the acquisition of Ithaca Holdings to expand their business globally. Not only from companies that are engaged in the music industry, HYBE also has many partners in technology companies, marketplaces, F&B, cosmetics, and many more.
Combining music and technology
“I believe that solving the inconveniences of fans is the way to innovate the industry, and this includes the issue of access to technology as well” - Lenzo Yoon, HYBE Coorporation's Global CEO
Increasing sophisticated technology come together with challenges. HYBE sees this as an opportunity to blend technology and music. Adoption technology has been implemented in various online concerts, ARMY Bomb, and collaborating with tech companies like Samsung and Hyundai.
In your opinion, what kind of system can support the successful achievement of a business in 2022? Contact OiHub to help you build a system that can improve your organization's achievements. You can reach us at firstname.lastname@example.org