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Why is Big Hit Entertainment changing name to HYBE? Inside future of labels as BTS Army roots for ‘JinHit’

Fans are curious to find out what exactly the Big Hit name change would mean for BTS or other acts like TXT and Lee Hyun

In startling news for BTS fans, Big Hit Entertainment recently announced that they would be changing their name to HYBE Corporation. On March 10, 2021, several reports surfaced online about the name change and how the transformation paves the path for the management agency to become a comprehensive content company. All KPop reported that the label announced it through a report with Korea's Financial Supervisory Service.

Teasing the change, Bang Si Hyuk had earlier said, "We'll become the world's leading entertainment and lifestyle platform company. By removing 'entertainment,' we'll have a new, comprehensive image as a general content group, which is our mission." 

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Fans are curious to find out what exactly this would mean for BTS or other acts like TXT and Lee Hyun. Meanwhile, the ARMY is rooting for JinHit Entertainment to be the official new name in a humorous take on BTS member Jin who once joked that he owns BigHit. "I believe in Jin Hit supremacy #WhatDoYouBelieveIn" wrote a fan.

Why is BigHit changing its name to HYBE?

According to AllKPop, BigHit reportedly opted for the name change since they are planning to transform into a comprehensive content company from being a management agency. Back in 2013, the company got BTS under its umbrella. Also home to TXT and soloist Lee Hyun, it now has multiple subsidiaries, including Source Music, Pledis Entertainment, Belift Lab, and KOZ Entertainment.

Alongside music production and management of the superhit boy band, HYBE Corporation is believed to oversee real estate now as well, by renting out practice rooms for subsidiary and affiliate companies. On March 30, the name change from BigHit Entertainment to HYBE Corporation will be addressed in the general shareholder's meeting of the firm.

What will happen to BTS, TXT and other labels?

It can be safely assumed that there will not be any major change for BTS, TXT or other labels managed by the BigHit Entertainment as earlier today, BTS members promoted the HYBE tagline — We Believe In Music — by releasing individual selcas (selfie) with the hashtag #WhatDoYouBelieveIn. The hashtag was trending at the top on Twitter as millions of fans retweeted the same. 

The Twitter reactions about the name change are miscellaneous, ranging from hilarious memes to sincere appeals to BigHit for not changing their iconic intro video. One fan joined in on the fun by sharing this meme. 

"This intro is ICONIC, they better not change it. I'm gonna choose 'Bighit, music and artist for healing over 'hybe, we believe in music' ANYDAY," one nostalgic fan tweeted. Another said, "I will only allow bighit to change their name if it's gonna be jinhit. thank u." Another clarified, "Bighit or Bang Shi Hyuk aka PD-nim aka Hitman bang is changing their name from Bighit Labels and any other bighit sources with the name BigHit to HYBE Corporation because they now have so many companies under their name that they feel like their more of a corporation not label."

And a fourth added, "Finally got it .... BigHit Ltd co. Is a parent company who owns all the BigHit labels nd business so the parent company will name the whole as HYBE (we believe in music) which will consist now the label nd business."

Meanwhile, fans are showing their support for the name change with the hashtag #WhatDoYouBelieveIn in the most creative ways. "Now I understand the question #WhatDoYouBelieveIn. It is a question answerable by, 'We believe in Music' connected to the new company name, Hybe," a user said, clarifying the confusion for many. Another fan posted, "I believe in Park Jimin and his body rolls #WhatDoYouBelieveIn."

A third wrote, "I believe that @BTS_twt have changed the music scene forever. Their impact and global reach are unprecedented, yet they remain humble and down to earth. Their talent and skill speak volumes. Every day, they somehow make me even prouder to be ARMY..."

According to 2020 reports, Big Hit was valued nearly at 6 trillion won ($5.36B) which is even more than the total sum of the Big 3. After going public in the Korean stock exchange, their value nearly doubled as a report suggested that the company’s net worth is at a projected $8.38 billion. According to latest reports, Big Hit’s net value stands at KRW 4.8 trillion ($4.36 billion at January 2021 exchange rates). 

To further dominate the K-pop industry, Big Hit along with its subsidiary Benx Corporation, owner of the app Weverse, have started a string of investments where Big Hit will be investing $63M in YG plus, a subsidiary of YG Entertainment, the house of popular groups such as Blackpink, iKon and Treasure.