HYBE continues to diversify its enterprise by shopping for a stake in South Korea-based video games developer Flint (report)

South Korea-based leisure large HYBE, the dad or mum firm of BTS’s administration crew 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 retailers, 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 scale 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, in keeping with its web site.

The Korea Occasions notes that HYBE acquired a stake in music recreation growth firm Excellent in 2019.

HYBE says it’ll add a recreation growth and distribution division along with its current function as a report label, expertise company, music manufacturing firm, occasion administration and live performance manufacturing agency, and music publishing home.

“We are going to 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 components of leisure,” HYBE Chairman Bang Si-hyuk was quoted by Korea Herald as saying, including: “We are going to obtain innovation within the recreation enterprise, simply as now we have within the music biz.”

“By the sport enterprise, HYBE will have the ability to present its clients with a more recent, extra enjoyable and extra numerous pass-time,” the chief added.

The video games to be developed below HYBE’s new gaming unit won’t essentially use artists’ IP, in keeping with the corporate’s executives.

“Though Hybe’s artist IPs are essential 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 in regards to 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, exhibits that HYBE, as a complete leisure company, is kicking off its gaming enterprise.”

Park hinted that HYBE’s gaming unit will likely be built-in with the corporate’s different tasks, saying the corporate is at the moment growing 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 by way of a partnership with HYBE IM and the developer. The video games embrace Challenge OZ (fantasy collectible RPG) and Challenge B (technique simulation RPG), which in keeping with MMO Tradition, will share a similar worldview with a long-term IP objective in thoughts.

The corporate has but to reveal whether or not it’ll use blockchain expertise in its video games, in keeping with Korea Herald.

“Now we have arrange an inside group to debate such (blockchain) points, however we’re nonetheless on the extent of tackling extra elementary considerations, because the market scenario is unfavorable,” Park mentioned.

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 up to now amassed 6.8 million registered customers and BTS members reportedly participated within the growth of the sport.

The information additionally comes as Park not too long ago reassured traders that the corporate has different income and development drivers after its largest earner, BTS, took a break from their profession to embark on necessary navy service of their house nation. 

HYBE’s plans embrace increasing in no less than 4 new markets in 2023 together with Japan and the US, the place it plans to deal with fostering artists the identical means that Okay-pop artists are created, in keeping with 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, not too long ago purchased a 4.2% stake in Okay-pop firm SM Leisure for an undisclosed quantity. The funding would help the sport writer’s metaverse efforts because the leisure company — which represents SUPER JUNIOR, Ladies’ Technology, SHINee, EXO, Pink Velvet, KANGTA, BoA, TVXQ!, NCT and aespa — owns an in depth mental property portfolio.Music Enterprise Worldwide