K-Pop's Hybe, behind BTS, acquires Latin music label

Reuters

South Korea's largest music label Hybe Co, behind K-Pop supergroup BTS, said on Monday it acquired the music label of Spanish-language media company Exile Content in its first major foray into the Latin music market.

Hybe said it acquired Exile Music, is setting up a Latin America unit for artist management and talent discovery, and considering incorporating the K-pop business methodology typified by lengthy, competitive artist training and development to the Latin genre in the long-term.

A spokesperson for Hybe declined to give the financial terms of the acquisition.

Hybe is looking to tap into the rapid growth of the estimated $1.3 billion Latin music market, as it reported a year-on-year growth of 26.4 per cent in 2022 compared to a 9 per cent growth in the global music market according to its statement.

K-Pop's biggest global success, BTS, is on temporary break as a group while its members serve out mandatory military service in South Korea.

Despite BTS' absence, analysts said K-Pop artists' overall sales volume increased in 2023 compared to the previous year as more bands gained a broader international following.

More from Entertainment

Coming Up on Dubai Eye

  • The Music Mix

    11:00pm - 10:00am

    Enjoy your favourite music back to back commercial free, tune in to the Music Mix everyday from 1 until 2 for the music you love and the news updates you need

  • The Reboot

    10:00am - Noon

BUSINESS BREAKFAST LATEST

On Dubai Eye

  • Is There Sufficient House Supply In UAE

    Dubai’s current population is more than double compared to almost twenty years ago, which now stands at 3.7 million. Lots of families are also moving to the UAE now. So what does it mean for the property market?

  • Noon's First Female Delivery Driver

    Glory Ehirim Nkiruka is Noon’s first ever female delivery driver. In her first ever interview, she explained why she loves her job, despite the heat!