According to HYBE, chaired by Bang Si-hyuk, the new entity was registered in Mumbai this month. Mumbai is recognized as a cultural and entertainment hub, home to Bollywood, contemporary art, and diverse performing arts, making it a strategic location for global music and content companies.
HYBE India's mission is to transform 'Where Voices of India Become Global Stories.' The company aims to discover and nurture talented artists in India, connecting them with the world through a local perspective.
To achieve this, HYBE India plans to conduct local auditions to select artists and establish a training system optimized for the Indian market. Additionally, it will actively support the local activities of existing HYBE music group artists.
With a population of 1.46 billion, India is the world's largest country by population and holds a significant market in the music industry. According to the Federation of Indian Chambers of Commerce & Industry (FICCI), India has 185 million streaming users, making it the second-largest market globally after the United States.
The popularity of K-pop is also rapidly growing in India. A study by the Korea Foundation for International Cultural Exchange revealed a 362% increase in K-pop music streaming in India from 2018 to 2023. This surge is attributed to the widespread adoption of the internet and smartphones, as well as improved access to streaming services.
The establishment of HYBE India is part of the 'Multi-home, Multi-genre' strategy led by HYBE Chairman Bang Si-hyuk. This strategy aims to lead local markets by developing businesses that align with the culture and characteristics of each region. It focuses on integrating the K-pop production system locally to discover and nurture world-class local artists.
HYBE India will leverage HYBE's comprehensive 360-degree capabilities in artist discovery and development, record production, management, marketing, and concert planning to introduce artists that connect the Indian local market with the global stage.