K-pop company Hybe has acquired Spanish-language studio Exile Content’s music division to mark its first step venturing into Latin music, according to media reports.
The company, otherwise known as the agency managing well-loved K-pop groups such as BTS and SEVENTEEN, will reportedly be led by Isaac Lee, founder of Exile Content, as chairman of the board at Hybe’s Latin unit. He will also be supporting Kah Jong-Hyun, former executive at YG Entertainment, as chief executive of Hybe Latin America.
The two will be in-charge of implementing the culture and practice of scouting and developing artists in Korea to Latin musicians, according to The Business Times (BT).
HYBE Latin America reportedly aims to become a bridgehead for HYBE artists to set foot into the region, as well as a base for the development of rookie stars and new content through Latin music. The agency said to The Korea Times that Latin America, is a promising market where the revenue growth rate of recorded music stood at 25.9 percent in 2022, according to the International Federation of the Phonographic Industry (IFPI).
Exile Music, subsidiary of Exile Content, has been involved in businesses, such as recording, music publishing, artist management and concert planning, areas which Hybe itself has also been functioning and operating in.
MARKETING-INTERACTIVE has reached out for more information.
This acquisition is only a part of Hype’s plan to integrate and accelerate its international presence. Hype has also joined forces with Ithaca Holdings, a fully integrated media company two years ago. According to Ithaca Holdings, HYBE acquired the company through its wholly owned subsidiary HYBE America, a 100% stake in Ithaca Holdings and its properties such as SB Projects and Big Machine Label Group.
"The two companies will work closely together leveraging our proven track records of success, know-how, and expertise to create synergy, transcend borders and break down cultural barriers,” said HYBE Chairman & CEO Bang Si-Hyuk. “Please look forward to the endless possibilities of HYBE and Ithaca Holdings, and the new paradigm the partnership will establish in the music industry,” he added.
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