HYBE has established a local subsidiary in India called ‘HYBE India’. This marks the fifth overseas headquarters (HQ) established by HYBE, following HYBE Japan, HYBE America, HYBE Latin America, and HYBE China.
According to HYBE on the 23rd, HYBE India (HYBE INDIA ENTERTAINMENT PRIVATE LIMITED) completed its registration in Mumbai this month. Mumbai, India, is a cultural and entertainment hub known for its Bollywood film industry, contemporary art, and various performing arts, and is gaining attention as a strategic base for global music and content companies.
The mission of HYBE India is ‘WHERE VOICES OF INDIA BECOME GLOBAL STORIES’. It aims to discover and nurture talented artists in India and connect artists born with a local sensibility to the world.
To achieve this, HYBE India plans to select artists through local auditions and establish a training system optimized for India. Additionally, it will actively support the local activities of existing HYBE music group artists in India.
With a population of 1.46 billion, India is the largest country in the world by population and also has a significant 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 second-largest market in the world after the United States.
The popularity of K-pop is rapidly growing. A survey by the Korea International Cultural Exchange Agency found that K-pop music streaming in India has surged by 362% from 2018 to 2023. This increase is attributed to the expansion of internet and smartphone penetration and improved access to streaming services, leading to a rapid rise in K-pop demand.
The establishment of HYBE India is part of a ‘Multi-home, Multi-genre’ strategy aimed at leading the local market by developing businesses tailored to the culture and characteristics of each region. The multi-home, multi-genre strategy led by Bang Si-hyuk focuses on integrating the K-pop production system locally to discover and nurture world-class local artists.
HYBE India plans to showcase artists that connect the local Indian market and the global market based on HYBE's 360-degree capabilities across the music industry, including artist discovery and nurturing, record production, management, marketing, and concert planning.
[Lee Da-gyeom, Star Today Reporter]
