HYBE established a local subsidiary in India called "HYBE India." This is the fifth overseas headquarters (HQ) HYBE has established, following HYBE Japan, HYBE America, HYBE Latin America and HYBE China.
On the 23rd, HYBE (chairman Bang Si-hyuk) said that this month HYBE India (HYBE INDIA ENTERTAINMENT PRIVATE LIMITED) completed its registration of establishment in Mumbai. Mumbai is a cultural and entertainment hub that concentrates the Bollywood film industry, contemporary art and a variety of performing arts, and is drawing attention as a strategic base for global music and content companies.
HYBE India's mission is "WHERE VOICES OF INDIA BECOME GLOBAL STORIES." It expresses the ambition to discover and train talented artists in India and connect artists born with local sensibilities to the world.
To this end, HYBE India plans to select artists through local auditions and build a training system optimized for India. It will also actively support the local activities in India of existing HYBE Music Group artists.
India, the world's most populous country with 1.46 billion people, also has a large market in the music sector. According to the Federation of Indian Chambers of Commerce and Industry (FICCI), the number of streaming users is 185 million, making it the world's second-largest market after the United States.
K-pop's popularity is also rapidly growing. According to a survey by the Korea Foundation for International Cultural Exchange (KOFICE), K-pop music streaming in India increased by 362% in 2023 compared with 2018. It is analyzed that K-pop demand is rapidly increasing thanks to the expansion of internet and smartphone penetration and improved access to streaming services.
The establishment of HYBE India is part of the "multi-home, multi-genre" strategy to lead local markets by conducting businesses tailored to each region's culture and characteristics. The multi-home, multi-genre strategy led by HYBE chairman Bang Si-hyuk focuses on discovering and cultivating the world's top local artists by applying the K-pop production system locally. HYBE India plans to introduce artists who will connect the local Indian and global markets based on HYBE's 360-degree capabilities across the music industry, including artist discovery and development, record production, management, marketing and concert planning.
[Photo] HYBE
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