HYBE Announces Major Changes to Weverse Amid Financial Deficit
HYBE, the company behind popular fan communication app Weverse, has announced a comprehensive new business strategy for the rest of the year. A significant change includes the introduction of a subscription-based model for Weverse, aimed at addressing the platform’s financial deficits.
| HYBE Corp
Subscription Service and New Features
During the fourth quarter of this year, HYBE will launch a subscription service for Weverse. This service will be separate from the existing fan club membership and will include:
Digital membership card
Bonus jelly (digital goods) recharge
Ad-free environment
VOD offline viewing
Users will also have the option to add watching membership content and priority for event participation to their subscriptions.
Expansion of Weverse DM
This year, Weverse DM will be expanded to include many more artists on the platform, including those from HYBE. This expansion aims to enhance fan engagement and provide more personalized communication options.
Comprehensive Ad Implementation
HYBE also plans to implement ads more comprehensively throughout the app. Currently, ads are limited to certain parts of the platform, but this will change as part of the new strategy.
Financial Necessity and Fan Reactions
From a business perspective, monetizing Weverse is seen as essential by HYBE. The platform has reported a deficit of ₩4.40 billion KRW (about $3.24 million USD).
However, fans are not very enthusiastic about 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
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
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