HYBE and Kakao Entertainment Aim to Dominate India’s 46 Trillion Won Entertainment Market

Leading companies in South Korea’s entertainment industry are turning their attention to the immense potential of the Indian market. HYBE and Kakao Entertainment are implementing aggressive strategies to seize control of India’s massive entertainment sector, which boasts a population of 140 million people. The Indian media and entertainment industry is projected to reach a value of 46 trillion won (approximately 3.3 billion dollars) by the end of 2025. As a powerhouse in entertainment that has produced BTS, HYBE has made concrete plans to enter the Indian market. HYBE Chairman Bang Si-hyuk stated that survival requires applying K-pop’s business model to other music genres and exporting it, proposing a strategy centered on “multi-home” and “multi-genre” approaches. This strategy involves adapting to local cultures and characteristics to establish a dominant position in the regional music market. HYBE is currently working toward establishing a subsidiary in India, aiming to complete the setup between September and October this year. It is conducting market research and finalizing corporate setup procedures based in Mumbai, a strategic location with a vibrant music scene and a rapidly growing K-pop fanbase. HYBE has already solidified its presence in the U.S. market through the success of groups such as BTS, TOMORROW X TOGETHER, and SEVENTEEN, and has built a global network through HYBE Japan and HYBE Latin America. Entering India is seen as an effort to explore new music markets leveraging these previous successes. Kakao Entertainment has already secured a proactive foothold in the Indian market. Since operating in India since 2015 following the acquisition of Kross Pictures in 2020, Kakao demonstrated its strength by having its Indian remake of the Korean film “Miss Granny,” titled “Oh! Baby,” top the box office in 2019. The company has also launched webtoon platforms such as Kross Komics and Tapas targeting urban youth in India, offering Korean webtoons in English and local languages. The reason behind the aggressive push by these two companies into the Indian market is clear growth potential. On trends in India’s media and entertainment industry released by the Korea Trade Association, revenue from the digital media sector surged from 1.3 trillion won in 2024 to 15 trillion won this year. The music sector is expected to generate over 1 trillion won in revenue this year, with further increases anticipated next year. When combining all sectors—including digital media, films, music, TV, and online games—revenue is estimated at 46 trillion won this year and 52 trillion won next year. India also possesses outstanding potential for digital content consumption. Indians rank third in the world with an average of 5 hours of daily phone usage, and the number of smartphone users reached 562 million last year. This indicates enormous potential for consumption on digital platforms. However, these two companies face significant challenges. India’s complex cultural and linguistic landscape, with 140 million people and over 20 official languages, religious sensitivities, and the lack of an integrated media distribution network could all hinder success. Industry experts emphasize that careful adaptation through local partnerships, while respecting regional preferences and cultural specifics in India, is essential. Nevertheless, given K-pop’s global influence and the competitiveness of Korean content, the entry of Korean companies into India is expected to serve as a new model for exploring emerging markets.