According to the new, comprehensive business strategy report shared by HYBE recently, the company is looking at some major new steps to take during the remaining period of this year. This includes the introduction of a subscription-based model for the fan communication app, Weverse.
During the fourth quarter of this year, HYBE will launch a subscription service for Weverse, which will be separate from existing fan club membership and run simultaneously. This service will consist of a digital membership card, bonus jelly (digital goods) recharge, ad-free environment, and VOD offline viewing. Users can opt to add watching membership content and priority for even participation to their subscriptions.
Along with these, this year, Weverse DM will also be expanded to many more artists on the platform, including HYBE artists.
HYBE also revealed its intention to implement ads more comprehensively throughout the app, as compared to the limited parts of the platform that contain ads now.
From HYBE’s business standpoint, monetizing Weverse might be essential, given that the platform brought in a deficit of ₩4.40 billion KRW (about $ 3.24 million USD). Fans, however, are not very keen on these proposed changes.
I don’t even like using the platform for free, why would I pay to use it? Weverse is so badly designed and now they think it’s worth a subscription fee?? Get it together, HYBE https://t.co/hIWHVqXxKL
— Kate, PhD⁷ 💜 Committed to Play💜 (@liltove) August 1, 2024
the funniest part about this is that the platform is just genuinely BAD. like no moderation, report function is so easily abused, every other post is spam links to ”groupchats for girls only”, you can’t currate your own tl, insane level of censoring, the list goes on https://t.co/tvMOoOntma
— jane⁷ the yoongi boongi misser (@kooslibra) August 1, 2024
HYBE executives saw y’all cutting up about piracy and decided to see if y’all still stand on that business lol. This was the only natural escalation with how their stocks are in the toilet https://t.co/VUBgvpmqpG
— nalalala ❕❔ (@pinqbby) August 2, 2024
you want me to pay for a platform that doesn’t even have spam filters? lmaooo https://t.co/SoX6wlkgNx
— ജ⁷🐈⬛ (@jeonderqueer) August 1, 2024
Weverse is already a shit platform, that is grossly under moderated and is a legitimate danger to the minors on the site and they EXPECT PEOPLE TO PAY FOR A SUBSCRIPTION TO IT? And of course, so many of the fans will jump on this in a heartbeat. https://t.co/PzZYFUJQPj
— 𝕄𝕖𝕘𝕙𝕒𝕟 FREE 🇵🇸 (@MeghanWithAnX) August 1, 2024
i defended hybe and weverse for so fucking long only for them to keep getting worse im so fucking done https://t.co/ggTTLxWw8J
— anee⁷ 🍉🇮🇳 (@keyuphoria) August 2, 2024
Source: Hankyung
