HYBE Establishes Fifth Overseas Headquarters in Mumbai, India...Accelerating the Global Expansion of K-POP

HYBE, one of the three major K-POP agencies, is accelerating its “multi-home, multi-genre” global strategy by setting up its fifth overseas headquarters in Mumbai, India. On the 23rd, HYBE announced the official establishment of “HYBE India Entertainment Private Ltd.” under the mission statement “Where voices of India become global stories.” This marks the fifth overseas headquarters following those in the United States, Japan, Latin America, and China, and it is part of founder and chairman Bang Si-hyuk’s strategy of operating across multiple regions and genres. HYBE explained that “HYBE India will discover local talent in India through nationwide auditions and train them using a system tailored to the Indian market.” It added that “the artists discovered will leverage HYBE’s capabilities across all areas of the music industry (such as album production, management, marketing, and concert planning) to connect with global markets.” The reason behind HYBE’s focus on the Indian market is clear. India is the world’s most populous country with 1.46 billion people, and its average age of 29 aligns with K-POP’s primary consumer demographic. Furthermore, India’s music streaming market is the second largest in the world. According to the Federation of Indian Chambers of Commerce & Industry, there are approximately 185 million music streaming users in India, making it the second-largest market after the United States. The growing demand for K-POP in India is also significant. Data from the Korea International Cultural Exchange Foundation shows that K-POP streaming in India increased by 362% between 2018 and 2023. This rise is attributed to the expansion of internet and smartphone usage and improved access to global streaming services. According to data released by the Korea International Trade Association in April, the revenue of India’s digital media industry is estimated at 13 trillion won (approximately $9.3 billion) in 2024, with projections showing it will rise to over 15 trillion won this year. HYBE’s entry into India represents a strategy to target a market that remains relatively untapped by Korean entertainment companies. Unlike North America and Southeast Asia, Indian markets have seen minimal penetration by Korean entertainment firms, offering abundant new growth opportunities. HYBE India will implement HYBE’s artist training and development systems, aiming to discover local talent and connect them with international audiences. In a previous statement, Chairman Bang Si-hyuk predicted that “the strategy of establishing bases in major global music markets and applying this methodology is yielding results, and if this trend continues, the landscape of the global music market, currently dominated by the three major global companies, will change significantly.”