HYBE held its first large-scale networking event in the United States, the center of the global music market, in collaboration with local major cultural industry organizations, sharing the influence of K-Pop in the current music scene and its future vision.
On the 12th, HYBE announced that it successfully hosted a special discussion and networking event on the theme of 'Reconfiguring the Global Music Industry: The Entertainment Blueprint of K-Pop' in collaboration with Gold House and the Gold Music Alliance under the Recording Academy at The West Hollywood Edition in Los Angeles on the afternoon of the 9th (local time).
The event was designed to shed deeper light on the value of K-Pop as a global cultural phenomenon for leaders and experts driving the global music market, and to form discourse on the impact of K-Pop on the market and its future. Over 100 key executives and members from Gold House and the Gold Music Alliance, as well as global music industry experts, attended the event.
Gold House, a co-host of the event, is a non-profit organization in the United States that supports business people and cultural artists from the Asia-Pacific region, contributing to strengthening networks in Asia and shaping culture. The Gold Music Alliance is an organization under the Recording Academy, which hosts the Grammy Awards, established as part of the D.R.E.A.M. (Diversity Reimagined by Engaging All Musicmakers) initiative. It helps Asian members expand their influence across the global music industry and highlights their contributions to cultural heritage and the music industry.
The event opened with remarks from Isaac Lee, Chairman and CEO of HYBE America, Bing Chen, Co-Founder and Chairman of Gold House, and Qiana Conley Akinro, Senior Executive of the Recording Academy Los Angeles branch.
Bing Chen, Chairman of Gold House, stated, "K-Pop started in one region but shows the power to unite the world," adding, "(Asian culture, including K-Pop) is growing the fastest in the U.S. and has already achieved successes like BTS and KATSEYE."
Qiana Conley Akinro, Executive of the Recording Academy Los Angeles branch, said, "In recent years, the influence of K-Pop has greatly expanded within the Recording Academy," and expressed hope that through the Gold Music Alliance, the voices of music professionals from the Asia-Pacific region would help shape the future of the global music scene.
Isaac Lee, CEO of HYBE America, remarked, "K-Pop currently accounts for only 4% of the global music market, but it has already dominated major global charts and will continue to grow explosively," adding, "HYBE's vision is not just to increase the size of the K-Pop market, but to create successful strategies demonstrated by K-Pop together with artists and fans from around the world."
The subsequent panel session featured Choi Jun-won, CEO of Weverse Company, Mitra Darab, CEO of HYBE X Geffen Records, Grammy Award-winning producer Jonathan Yip, and Rick Choi, Live Nation Global Tour Promoter. They discussed how fandom culture and fandom platforms are unique characteristics and success strategies of K-Pop, noting that they are already influencing the Western music market.
CEO Choi stated, "K-Pop fandom is not just passive listeners; they are very active, passionate, and want to participate directly in the artist's journey," adding, "I believe that the combination of these fandom characteristics and the attractive elements of K-Pop has led to its innovation."
The panelists agreed that K-Pop's fandom culture is already influencing Western culture. CEO Darab emphasized, "In K-Pop, fans are always prioritized, and it is important to communicate directly with fans using platforms like Weverse," stating, "This is something that Western labels in the U.S. can learn from K-Pop, and many Western artists already want to join Weverse."
Darab also evaluated that the strategy of utilizing Korean music broadcasts has contributed to the success of KATSEYE. He mentioned that KATSEYE chose Korean music broadcasts for their first activities with the single 'Gnarly' released in April this year, explaining, "Korea's top four music broadcasts, known for their high production standards, are stages that fans expect and are part of understanding fandom culture. Since it was a performance-driven song, this was a very strategic choice."
[Ji Seung-hoon, Star Today Reporter]
