BTS label Big Hit Entertainment is reportedly in the process of changing its name to HYBE Corporation, as Variety reports. The company, founded by CEO Bang Si-hyuk (aka Hitman Bang) in 2005, has become one of the most powerful players in the South Korean entertainment industry off the success of the seven-piece boy band. It went public on the Korean stock exchange last year.
BTS currently makes up the majority of Big Hit’s revenue. The change to HYBE Corporation precedes alleged planned expansions into industries outside of music, such as communications, travel, and real estate. The change will reportedly be addressed at a shareholders meeting at the end of March.
BTS are set to perform at the 2021 Grammy Awards this Sunday, March 14. Other artists set to perform include Bruno Mars and Anderson .Paak, Cardi B, Taylor Swift, Harry Styles, and many more.