HYBE, led by Chairman Bang Si-hyuk, is expanding its influence in the Latin American music market by establishing the new local subsidiary “HYBE Latin America”. This move aims to enhance its presence in one of the world’s fastest-growing music markets
HYBE Latin America will serve as a hub for entering the Latin American market, focusing on the entry of HYBE Labels artists as well as developing new talents and content. The subsidiary plans to concurrently engage in artist management and fostering new talents. To achieve this, it will recruit top-tier producers, establish a localized Training & Development (T&D) and Artist & Repertoire (A&R) system, and explore integrating proven business methodologies from K-pop into the Latin genre.
Isaac Lee, a figure known for his authority in the Latin content market, will join as the Chairman of the board of HYBE Latin America. Isaac Lee, the founder of Exile Content, has experience as Chief Content Officer for Univision Communications, one of the world’s largest Spanish-language content television channels, and as a producer for Netflix, Antena 3, Amazon, HBC, National Geographic and Disney.
With Isaac Lee’s inclusion, HYBE Latin America and Exile Content will build a comprehensive partnership, where Isaac Lee will play a bridging role. This collaboration will contribute to producing content optimized for the Latin market and forming partnerships with global media companies.
Before its official launch, HYBE Latin America acquired Exile Music, a label under Exile Content, to expedite its presence in the Latin market. The Latin American music market was estimated to be around $1.3 billion as of last year, exhibiting a growth rate of 26.4% compared to the previous year. HYBE highlighted the Latin market’s steep growth trajectory compared to the 9% increase in the global music market during the same period.
The move aligns with Chairman Bang Si-hyuk’s recent discussion on the concepts of “Super Fans” and “Light Fans” on tvN’s “You Quiz on the Block”. While K-pop fandoms center around Super Fans (emphasize deep immersion and intense consumption), genres like Latin and Afrobeat attract both Super and Light Fans. HYBE’s venture into the Latin music market aims to apply the advantages of Latin music to K-pop, considering its potential for diverse consumer bases.
The strategic move reflects HYBE’s efforts to diversify its portfolio and leverage the strengths of Latin music to address potential limitations in the expansion of K-pop.
Source: Daum
