Major entertainment agencies are venturing into the K-pop market without Korean members
On November 16th, SM Entertainment announced a collaboration with the UK entertainment firm MOON&BACK (hereafter M&B), aiming to produce a new boy group in the UK.
M&B, based in London, is known for creating globally popular boy groups like One Direction as well as renowned TV shows such as ‘Britain’s Got Talent.’
The debut of this collaborative boy group, the first between Korea and the UK, the birthplace of pop music, is expected to attract global attention.
Jang Yoon-jung, SM’s Chief Business Officer, emphasized the significance of this project as it marks the first step into Europe, playing a crucial role in accelerating the global growth of the K-pop industry.
SM Entertainment has previously launched WayV, a group composed of Chinese members.
HYBE, chaired by Bang Si-hyuk, is preparing to enter the Latin music market. On November 13th, HYBE established HYBE Latin America in Mexico, announcing its entry into the Latin music market.
HYBE stated that HYBE Latin America will serve as a hub for entering the Latin market with both established artists and developing new talents and content.
Isaac Lee, founder of Exile Content and former Chairman of Univision Communication and Chief Content Officer of Televisa, was appointed as the Chairman of the Latin America Board for HYBE.
Bang Si-hyuk is expected to focus on expanding the outreach of K-pop through pioneering the Latin music market.
JYP Entertainment has previously succeeded in localizing its strategy. In 2020, JYP Entertainment debuted the girl group NiZiU, with all members being Japanese.
NiZiU, formed through the survival audition program ‘Nizi Project’ co-planned with Sony Music Japan, achieved significant success with their debut album ‘U’ and second album ‘Coconut.’
Continuing to widen its reach, the K-pop market’s ongoing expansion raises anticipation for what it will present in the future.
Source: daum
