BTS, HYBE’s iconic boy group. Photo: Big Hit Music, courtesy of Weverse
Hybe, the South Korean multinational entertainment company and the name behind K-pop superstars BTS, Seventeen, Tomorrow X Together, Enhypen, Le Sserafim, and other notable artists, has recently announced plans to expand into the Indian market with the opening of an Indian unit.
A significant and strategic move to strengthen its global presence, Hybe—encompassing record labels, talent management, music production, event management, and music publishing—and a slew of subsidiaries, namely Big Hit Music, Belift Lab, Source Music, Pledis Entertainment, and more—is prepping to tap into India, driven by Chairman Bang Si Hyuk’s ambition to bring the K-pop model to the country’s massive market.
The decision is driven by Hybe’s “Multi-home, Multi-genre” strategy, an approach that’s all about tailoring its offerings to local tastes, preferences, and cultural sensibilities in an attempt to carve out a niche and cement its position in the music scene. This initiative is being personally helmed by Chairman Bang, according to media reports.
An already thriving music industry that it is, the Indian music market is further predicted to rake in a whopping 1 trillion won this year, according to a report from the Korea International Trade Association, cited by Maeil Business Newspaper, and the sector’s expected continued growth has essentially made it a prime target for Hybe’s expansion plans.
With subsidiaries already established in the United States, South America, China, and Japan, Hybe’s next stop is India. And the company is expected to launch its Indian branch as early as September or October this year. “We’re currently conducting local market research and handling the necessary procedures to establish the corporate entity,” Hybe said, courtesy of Yonhap News Agency.
It’s a two-way street—for Hybe, it’s another step to grow its business and stay on top of the music industry, while for India, it’s an opportunity for a fresh wave of growth, both culturally and economically.
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