HYBE America’s CEO Lenzo Yoon, who currently oversees the American branch of HYBE, participated in an online lecture on the “Entertainment, Media, and Sports Business” at Harvard Business School.
This lecture was a part of Professor Anita Elberse’s class, who is regarded as a top authority in industrial research. Professor Elberse is also known for the writing the case report titled Big Hit Entertainment and Blockbuster Band BTS: K-Pop Goes Global.
At the suggestion of Professor Elberse, CEO Yoon held a lecture twice, each with about 160 students, as he explained the success factors and business strategies based on the experience and expertise of Big Hit.
In response to a question regarding Big Hit and HYBE’s long-running sustainability of success, Yoon commented, “There cannot be a second BTS because their authenticity and identity cannot be duplicated.”
He added, “Big Hit is focusing more on researching the communication method that the current generation needs. Ten years from now, we plan to continue to show content and services that only we can provide.”
Professor Elberse and the students also took time to exchange various opinions and thoughts on the success factors of BTS and Big Hit’s artist development system. Students chose the company’s artist-friendly contract terms, artist autonomy, and core contents as some of the factors that made them different from others.
When asked about BTS’s fandom ARMY, he stated, “They take BTS’s storyline and create content in order to spread the story of BTS to those that do not know them. They cannot be found in any other entertainer or athlete.”
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