South Korea-based leisure large HYBE, the dad or mum firm of BTS’s administration workforce BIGHIT MUSIC, is increasing within the video games business, having acquired a stake in developer Flint, maker of the favored Dragon Blaze recreation.
The information was picked up by a number of media shops, together with The Korea Occasions citing a press convention held on the sideline of the G-STAR gaming present on the BEXCO conference middle in Busan on Saturday (November 19).
Monetary phrases of the transaction, together with the dimensions of the stake weren’t disclosed.
The funding comes as HYBE bets on the gaming enterprise amid its push into the metaverse and visible leisure. HYBE has a unit referred to as HYBE IM (Interactive Media), which carries out “preemptive technological analysis” in video games, the metaverse, AI and different fields, based on its web site.
The Korea Occasions notes that HYBE acquired a stake in music recreation improvement firm Very good in 2019.
HYBE says it’s going to add a recreation improvement and distribution division along with its current position as a file label, expertise company, music manufacturing firm, occasion administration and live performance manufacturing agency, and music publishing home.
“We’ll obtain innovation within the recreation enterprise, simply as now we have within the music biz.”
Bang Si-hyuk, HYBE
“Gaming is a really enticing type of content material which compactly holds the entire elements of leisure,” HYBE Chairman Bang Si-hyuk was quoted by Korea Herald as saying, including: “We’ll obtain innovation within the recreation enterprise, simply as now we have within the music biz.”
“By the sport enterprise, HYBE will be capable to present its clients with a more recent, extra enjoyable and extra numerous pass-time,” the manager added.
The video games to be developed below HYBE’s new gaming unit won’t essentially use artists’ IP, based on the corporate’s executives.
“Though Hybe’s artist IPs are necessary properties (of the corporate), we’ll attempt to showcase video games that don’t use them,” HYBE IM CEO Jeong Woo-young was quoted by Korea Herald as saying.
In the meantime, HYBE CEO Park Ji-won additionally expressed his optimism concerning the firm’s new enterprise, saying: “The profitable servicing of a self-developed recreation, and the truth that HYBE has forayed into the publishing enterprise, reveals that HYBE, as a complete leisure company, is kicking off its gaming enterprise.”
Park hinted that HYBE’s gaming unit might be built-in with the corporate’s different tasks, saying the corporate is at present creating a brand new recreation that’s primarily based on artists and music, and reiterated the corporate’s plan to launch two new video games with native recreation developer Macovill in 2023.
HYBE first revealed its deliberate launch of two Macovill video games in September through a partnership with HYBE IM and the developer. The video games embody Challenge OZ (fantasy collectible RPG) and Challenge B (technique simulation RPG), which based on MMO Tradition, will share a similar worldview with a long-term IP aim in thoughts.
The corporate has but to reveal whether or not it’s going to use blockchain know-how in its video games, based on Korea Herald.
“We’ve arrange an inner group to debate such (blockchain) points, however we’re nonetheless on the extent of tackling extra elementary considerations, because the market state of affairs is unfavorable,” Park stated.
The plan marks HYBE’s newest transfer within the gaming business after beforehand launching two video games below its HYBE IM unit: “Rhythm HYBE,” and “BTS Island: Within the SEOM.”
BTS Island has so far amassed 6.8 million registered customers and BTS members reportedly participated within the improvement of the sport.
The information additionally comes as Park lately reassured buyers that the corporate has different income and development drivers after its greatest earner, BTS, took a break from their profession to embark on necessary army service of their dwelling nation.
HYBE’s plans embody increasing in no less than 4 new markets in 2023 together with Japan and the US, the place it plans to concentrate on fostering artists the identical means that Okay-pop artists are created, based on an earlier memo to shareholders.
Todaty’s information marks additional collaboration between the Okay-Pop and video games industries.
Com2uS, a South Korean recreation writer, lately purchased a 4.2% stake in Okay-pop firm SM Leisure for an undisclosed quantity. The funding would assist the sport writer’s metaverse efforts because the leisure company — which represents SUPER JUNIOR, Women’ Era, SHINee, EXO, Pink Velvet, KANGTA, BoA, TVXQ!, NCT and aespa — owns an in depth mental property portfolio.Music Enterprise Worldwide