Also this week: HYBE's games division raises $80M, Believe acquires a Turkish indie label and more.
Album sales by SEVENTEEN and Tomorrow X Together boosted recorded music revenue as concert revenue slipped.
The Billboard Global Music Index fell 2.0% on Monday, though that was a lighter drop than those suffered by the S&P 500, the Dow Jones Industrial Average and the Nasdaq.
The new direction includes new leadership for HYBE's companies in Korea and Japan, updates to its Weverse platform and new global and tech initiatives, among others.
Formerly president of HYBE America and chief strategy officer, Lee replaces Jiwon Park to lead 'HYBE 2.0' strategy
Weverse Company president Joon Choi discusses the superstar's onboarding and what lies ahead for the influential platform as it continues expanding beyond K-pop.
The recently established division is opening offices in Mexico City, Miami and Los Angeles and launching a new label, among other endeavors.
The star and global company will pursue creative opportunities in Weverse and REM Beauty.
The K-pop giant vowed to pursue its case against Min Hee-jin after the executive won an injunction ahead of a HYBE shareholder meeting.
The Korean music company, home to BTS, still retains a 9.4% stake in SM Entertainment.
