MBW’s World Leaders is a regular series in which we turn the spotlight toward some of the most influential industry figures overseeing key international markets. In this feature, we speak to Taeho Park, who leads HYBE NEXT ENTERTAINMENT BUSINESS (NEB) and Data Strategy Center at Korean entertainment giant HYBE. World Leaders is supported by SoundExchange.
The expansion of ‘transmedia’ strategies in the global music business was one of the defining trends of 2025, according to Luminate’s 2025 Year-End Report.
The company noted that the “streaming-only era was officially left behind” as successful artists increasingly inhabit multiple media spaces simultaneously, from music and gaming to film, television, and more.
Few executives are as deeply embedded in music’s transmedia future as Taeho Park, who heads up the HYBE NEXT ENTERTAINMENT BUSINESS (NEB) division at South Korean entertainment giant HYBE, the home of BTS.
Prior to HYBE, Park spent years in brand marketing at Hyundai Motor Company, where he helped build the Genesis luxury division. He joined HYBE as Chief of Staff to the Chairman’s Office in 2023, then moved into a corporate strategy role overseeing global strategy, data initiatives, and corporate branding, before taking the helm of HYBE NEB in January of this year.
The unit overseen by Park at HYBE is tasked with constructing an interconnected web of story universes, woven around the company’s biggest artists, designed to pull new audiences into the K-pop ecosystem.
HYBE’s NEB unit started out by producing webtoons and web novels, but has since expanded into anime, soundtracks, audiobooks, and experiential programs, with the DARK MOON series, built around ENHYPEN, as its most prominent output to date.
MEMORABILIA, the DARK MOON soundtrack album, sold over 207,000 copies, a notable figure for a project that isn’t, strictly speaking, an artist album.
He says a significant portion of those purchases were driven by consumers’ desire to own merchandise connected to the story and its characters, “which reflects a fundamentally different motivation from what drives fans to purchase an artist’s album.”
“Even capturing just one percent of the global subculture market could translate into a 10% net increase in music industry terms,” Park tells MBW.
Other transmedia projects under the NEB umbrella include 7FATES: CHAKHO, inspired by K-pop superstars BTS, plus TOMORROW X TOGETHER’s THE STAR SEEKERS, and ILLIT’s SUMMER MOON.
Asked how HYBE NEB’s operations are positioned within the music industry’s ongoing discussion around superfans, Park explains that the unit operates within “entirely different frameworks”.
He explains: “Streaming tiers and D2C bundles are methods to increase each customer’s spending. However, HYBE NEB is designed to grow the total superfan population within the industry, with two engines running simultaneously: meaningfully expanding the customer base, and deepening the immersion of individual fans.”
Commenting on how HYBE NEB division is positioned alongside the company’s broader strategy across recorded music, artist management, concerts, and superfan platform Weverse, Park explains that the unit “plays an important role in maximizing the diversity of the customer spectrum HYBE can reach”.
“While HYBE’s company-wide ‘multi-home, multi-genre’ strategy targets the global mainstream music market, HYBE NEB is developing methodologies to connect adjacent markets with music, centered on subculture audiences,” he says.
Park adds: “If recorded music, live music, artist management, and Weverse represent innovation in the present tense, HYBE NEB is HYBE’s future business frontier.”
The ‘transmedia’ bet looks well-timed, not least because of what’s happening elsewhere within HYBE’s own walls.
Separate from NEB’s story-driven projects, BTS’ comeback album ARIRANG, released last month, demonstrated the power of transmedia at scale.
The album earned 739.1 million global on-demand audio streams in its first week, according to Luminate: the biggest album of 2026 so far and the highest Week 1 total since Taylor Swift’s The Life of a Showgirl in October. But the rollout was far more than an album drop. A free comeback concert in Seoul was livestreamed on Netflix the day after release, drawing 18.4 million global viewers.
The Netflix documentary BTS: THE RETURN, released the following week, saw 11.3 million minutes watched on its first day, per Luminate Streaming Viewership (M) data. Luminate noted that “BTS is one of an increasing number of top artists who are crafting transmedia extensions intended to reach as many global fans as possible and elevate album releases to inescapable cultural moments.”
Here, Park discusses the commercial case for ‘transmedia’ content in the music business, and why he believes storytelling will reshape how audiences discover music…
COULD YOU TELL OUR READERS ABOUT YOUR CAREER LEADING UP TO YOUR CURRENT ROLE?
I began my career at Hyundai Motor Company in brand marketing, where my primary focus was on building and evolving a new brand identity. I then joined the founding team of Genesis, Hyundai’s luxury division, where I led brand premiumization strategy and global business strategy. My role involved planning its future vision and driving its global expansion.
From there, drawing on my combined experience in branding, marketing, and new businesses, I transitioned to HYBE as Chief of Staff to the Chairman’s Office, where I supported mid-to-long-term strategic planning and analyzed global music industry trends. I subsequently moved into a corporate strategy role at HYBE and served until January of this year, overseeing HYBE’s global strategy, data initiatives, and corporate branding.
Currently, I lead HYBE NEXT ENTERTAINMENT BUSINESS (NEB) and Data Strategy Center, focusing primarily on planning future business directions and building strategic assets.
WHAT WAS THE VISION BEHIND HYBE NEB’S CREATION, AND HOW HAS IT EVOLVED?
To speak on the founding vision of HYBE NEB, we need to go back about ten years. From that point, various content began emerging around the idea that combining music and story could open up new markets and extend the lifespan of an IP.
The vision behind HYBE ORIGINAL STORY BUSINESS (OSB) — HYBE NEB’s predecessor — was to identify the intersection between music fans and story fans, enable cross-consumption between those two audiences, and give music IPs an extended lifespan through narratives. Under that vision, we expanded across multiple formats including webtoons, web novels, and audiobooks, and further grew into experiential programs such as original soundtrack releases and theme park events.
“THE AXES OF FUTURE CHANGE ARE HIGHLY COMPLEX AND MULTI-LAYERED. CULTURAL DIVERSITY IS ASSERTING ITSELF MORE POWERFULLY THAN EVER IN GLOBAL MARKETS.”
In June of last year, we integrated a future market exploration initiative into HYBE OSB, expanding it into what is now HYBE NEB.
The axes of future change are highly complex and multi-layered. Cultural diversity is asserting itself more powerfully than ever in global markets, and the rise of Generation Alpha as the dominant consumer base is signaling a fundamental shift in the rules of content consumption. From an industry perspective, the media consumption environment is becoming hyper-fragmented and hyper-personalized. On a societal level, everyone is beginning to feel that transformative technologies such as AI will profoundly reshape the way consumers live in the near future.
The expanded vision of HYBE NEB is to create new super IPs through unprecedented imagination within this complex landscape. Rather than measuring success by the performance of any single piece of content, we are planning our business around a platform-centered model — factoring in how audiences flow into and out of, and ultimately remain within, the story world HYBE has built.
WHERE DOES HYBE NEB SIT WITHIN HYBE’S BROADER GROWTH STRATEGY ALONGSIDE RECORDED MUSIC, LIVE MUSIC, ARTIST MANAGEMENT, AND WEVERSE?
Rather than a business designed to generate immediate returns, HYBE NEB is more accurately characterized as a forward investment to secure future markets. Its role can be defined as a “multiplier,” targeting growth of ten times or more over a three-to-five-year horizon.
Because HYBE made a preemptive commitment to ORIGINAL STORY a decade ago, we are now at a point where we can sketch out a visible roadmap for future growth. Following the launch of our DARK MOON: THE BLOOD ALTAR animated series, our focus has been on expanding the global scale and impact of those IPs. This year, we plan to scale further while sequentially activating our commercialization plans.
BTS INSPIRED 7FATES: CHAKHO, ENHYPEN HAS DARK MOON, TOMORROW X TOGETHER HAS THE STAR SEEKERS, ILLIT NOW HAS SUMMER MOON. IS EVERY HYBE ARTIST EXPECTED TO HAVE A TRANSMEDIA UNIVERSE?
Because each artist has a different plan and approach to growth, we have no intention of applying transmedia strategies uniformly. The core of ORIGINAL STORY is market expansion through mutual synergy, and if the identity and message of an artist are not a natural fit, we simply don’t move forward.
I’d also like to emphasize that the vision HYBE NEB holds goes well beyond transmedia projects alone. By understanding how to cultivate powerful story IPs and having deep visibility into consumer communities, we are laying the groundwork to present entirely new forms of IP to the market — independent of any single transmedia framework. Our ultimate goal is to move beyond transmedia and offer the market new ways of experiencing and consuming music.
HOW DO YOU DECIDE WHICH ARTISTS GET TRANSMEDIA PROJECTS, AND HOW DOES THAT FIT INTO THEIR BROADER CAREER STRATEGY?
HYBE operates a multi-label system that places the highest value on respecting each artist’s unique identity and independent decision-making, so the final decision rests with the label. Our conversations are shaped by a holistic consideration of each artist’s musical direction, brand identity, and growth plans.
We apply ORIGINAL STORY as a way to most vividly express the identity and message an artist is pursuing.
In the case of DARK MOON, the overarching theme is “connections created by those who exist on the periphery.” Vampires and werewolves were chosen as the story’s central figures because they intuitively represent that sense of existing on the margins. This narrative was designed to resonate with ENHYPEN’s own story as a group that debuted through an audition program, defined by that same “in-betweenness” as artists who were once competitors.
“THE MOST IMPORTANT PRINCIPLE IS THAT NEITHER SIDE CONSTRAINS THE GROWTH OF THE OTHER.”
When it comes to integrating a story with an artist’s long-term career strategy, the most important principle is that neither side constrains the growth of the other. From the very beginning, we have described this approach as “casting the artist in the story” — the narrative can be fully intertwined with an album, but it can also operate completely separately when needed, with each side pursuing its own independent arc.
THE INDUSTRY HAS SPENT THE PAST TWO YEARS TALKING ABOUT ‘SUPERFANS.’ IS TRANSMEDIA PRIMARILY A SUPERFAN MONETIZATION STRATEGY, OR A FAN ACQUISITION STRATEGY?
If I had to choose, I’d say it is more accurately defined as a fan acquisition strategy. HYBE has always pursued growing the industry and market as a whole rather than competing for market share, and HYBE NEB operates under that same philosophy.
In terms of market size alone, the global subculture market — which broadly includes anime, gaming, and adjacent fields — is approximately ten times the size of the music industry. Through the story business, we are building a bridge between these two markets.
“OUR CONTENT IS HELD TO A RIGOROUS STANDARD IN BOTH PLANNING AND QUALITY, DESIGNED TO FUNCTION AS INDEPENDENT IPS RATHER THAN DERIVATIVE PRODUCTS OF AN ARTIST.”
For that reason, our content is held to a rigorous standard in both planning and quality, designed to function as independent IPs rather than derivative products of an artist. This year, our entry into the mainstream anime market is validating the competitiveness of our content.
HOW DOES TRANSMEDIA FIT INTO THE INDUSTRY’S SUPERFAN CONVERSATION AROUND STREAMING TIERS AND D2C BUNDLES?
The current conversation around superfans is about driving growth by focusing on customers who are willing to pay more. But the underlying question everyone is wrestling with is: what customer value do we actually offer to unlock that willingness?
ORIGINAL STORY has a strategic advantage here: through its broader story world and characters, we can design the value and products we offer customers with far greater variety and clarity, while bringing fresh initiatives for market development.
MEMORABILIA SOLD OVER 207,000 COPIES — A NOTABLE FIGURE FOR A SOUNDTRACK. HOW DO YOU MEASURE TRANSMEDIA’S IMPACT ON MUSIC SALES AND STREAMING?
While the impact is not purely quantitative, strong performance from story content generates significant renewed interest in an artist’s back catalog — both older songs and music videos. The DARK MOON: THE BLOOD ALTAR animated series is a good example: an ENHYPEN song from three years ago was adapted and released in Japanese, offering fans a new experience.
“Because the consumer motivation is different and the nature of the album format is distinct, this trend has real potential to bring people who were not previously active music spenders into the music market.”
Beyond the strong sales performance of the MEMORABILIA album, the fact that soundtracks from last year’s breakout film “KPop Demon Hunters” [have been] asserting [their] presence across charts and award shows, and that we’re seeing Japanese artists expand their global tours thanks to the popularity of their anime soundtracks — I think these are telling signs of [a] shift.
Because the consumer motivation is different and the nature of the album format is distinct, this trend has real potential to bring people who were not previously active music spenders into the music market.
ARE YOU SEEING FANS WHO ENTER THROUGH WEBTOONS OR ANIME CONVERT TO HIGH-VALUE MUSIC PURCHASES LIKE ALBUMS AND CONCERT TICKETS?
Given the mutual cross-flow between story fandoms and K-pop fandoms, conversion to high-value music consumption is a natural outcome. Because the two markets share a clear and meaningful overlap, drawing a hard line between “story fandom” and “music fandom” as separate identities is largely irrelevant.
In terms of commercial value, what deserves more attention is the potential to create entirely new markets. We are also aware that many fan communities are vocal about wanting a concert centered on [the DARK MOON] IP, which confirms that consumers of story content are clearly willing to invest in specialized, dedicated experiences.
WHAT DOES A TRANSMEDIA-ENGAGED FAN LOOK LIKE COMMERCIALLY VERSUS A MUSIC-ONLY FAN?
Fans who actively consume transmedia content show higher levels of immersion and loyalty compared to those who consume music alone. They engage across a broader range of categories and respond quickly to the latest news about the IP.
Consuming music alone delivers only the auditory dimension of content. K-pop goes beyond that by adding a visual dimension, making it a holistic experience.
When a narrative layer is introduced, it goes further by engaging the listener’s intuition and active interpretation. This moves the consumer beyond passive reception, empowering them to take the most active and engaged role possible in how they consume content.
“THIS DYNAMIC CONTINUALLY SUPPORTS DEEPER FAN IMMERSION IN BOTH THE ARTIST AND THE STORY, DRAMATICALLY INCREASING THE AMOUNT OF LEISURE TIME DEVOTED TO A SINGLE IP.”
This dynamic continually supports deeper fan immersion in both the artist and the story, dramatically increasing the amount of leisure time devoted to a single IP, and gradually building relationships that enable fans to ultimately evolve into superfans.
WHAT HAVE YOU LEARNED ABOUT FAN BEHAVIOR THAT YOU DIDN’T UNDERSTAND BEFORE LAUNCHING ORIGINAL STORY?
One pattern that has become increasingly clear is the intensity of fans’ desire to decode and engage with the messages an artist is trying to convey. Fans apply the settings and lore of the story IP to their interpretations of an artist’s albums, or use previously released story content as clues to speculate on the composition of a new album. Within the story content itself, debates emerge surrounding interpretations of characters’ personalities and visual elements, and fans organically raise the bar for the integrity of the message the IP should represent.
This tells us that while capturing customer attention is important, sustaining long-term relationships requires meaningful and responsive interaction with their expectations above all else. It is also precisely why, in building out HYBE NEB, we invest heavily not only in story content but also in a rich array of online and offline customer experience programs.
WHAT’S BEEN THE BIGGEST LESSON FROM BUILDING ORIGINAL STORY — AND WHAT WOULD YOU DO DIFFERENTLY?
The biggest lesson is that combining music and story requires a much faster pace of content production, and that we need a structure capable of interacting with our audience in real time. Producing a single story IP can take anywhere from one year at the shortest to well over three years. This is completely different from the fast-paced music industry, where chart rankings often shift multiple times within a single month. Finding the right balance between those two dynamics was the central challenge.
For music and story to be combined more effectively, we believe a new structure is needed — one that preserves the overarching story framework and character settings while allowing content to expand infinitely and be produced precisely when needed. We are working to establish a “post-transmedia storytelling” model centered on two pillars: improved content production speed and active consumer participation.
WHAT FORMATS ARE YOU MOST EXCITED ABOUT EXPLORING NEXT?
When an artist and a story IP are connected, one of the most compelling advantages is that the narrative can connect the overarching story throughout multiple albums. I’m eager to try creating musicals or live stage productions — formats that combine iconic tracks from each album with key scenes from the story — as they most effectively showcase the narrative’s completeness and its connection to the music.
“When an artist and a story IP are connected, one of the most compelling advantages is that the narrative can connect the overarching story throughout multiple albums.”
I’m also very interested in the intersection of technology and content. Given that we already possess a richly developed story world and cast of characters, if we can leverage technologies like XR and AI in thoughtful and transparent ways, I believe we can design entirely new customer experiences. I’m also closely following the format of short-form serialized web animation — which has been gaining strong traction recently — as well as VR content.
IF YOU COULD CHANGE ONE THING ABOUT THE GLOBAL MUSIC BUSINESS, WHAT WOULD IT BE AND WHY?
What I want to create is an environment where good music can be discovered easily. The fragmentation of the media landscape and the sheer flood of content are significantly undermining market predictability, but I believe the industry’s vitality is strengthened when good music, made with genuine craft and care, gains traction and circulates dynamically.
That is where I see HYBE NEB’s role as well. We define our work as using the expansive framework of stories and characters as a pathway for the discovery and consumption of both new and existing music, and giving enduring life to music IPs that might otherwise be easily forgotten once their moment has passed.
SoundExchange was independently formed in 2003 to build a fairer, simpler, and more efficient music industry through technology, data, and advocacy. The only organization designated by the U.S. government to administer the Section 114 sound recording license, SoundExchange collects and distributes digital performance royalties on behalf of 700,000 music creators and growing.
Music Business Worldwide
