K-pop Powerhouse Acquires Exile Music to Establish Foothold in Growing Latin Music Industry

Captured from HYBE's official website

Hybe, the influential K-pop company behind global sensations BTS and NewJeans, has announced the creation of Hybe Latin America, a strategic move to tap into the thriving Latin music market. Positioned as a bridgehead, this new unit will facilitate the entry of Hybe's artists into the Latin American music scene and function as a hub for artist management and talent development.

Hybe Latin America is set to engage in comprehensive endeavors, encompassing artist management and the identification and cultivation of emerging talents. To solidify its presence, Hybe has acquired Exile Music, the music division of Spanish-language studio Exile Content. The financial details of the acquisition have not been disclosed. 

▲ Captured from HYBE's official website

The acquisition is framed as a strategic acceleration of Hybe's footprint in the Latin music market, leveraging Exile Music's extensive involvement in recording, music publishing, artist management, and concert planning.

Isaac Lee, the founder of Exile Content, will assume the role of Chairman of the Board at Hybe Latin America. Lee, known for his role as Chief Content Officer at TelevisaUnivision, brings a wealth of experience, having contributed to major Spanish-language content TV channels and produced films and documentaries for platforms like Netflix and Amazon Prime Video.

According to Hybe, the Latin American music market demonstrated robust growth, reaching $1.3 billion in 2022, a notable 26.4 percent increase from the previous year. This surge stands in stark contrast to the global music market, which experienced approximately 9 percent growth during the same period.

The popularity of Latin music extends beyond Latin America, resonating strongly in the United States, where approximately 20 percent of the population speaks Spanish. Spanish-language songs have claimed more than half of the 35 non-English tracks that have secured a spot in the top 10 of the Billboard Hot 100 main singles chart.

Sayart.net 

Blue YIM, yimyoungseo1010@naver.com