K-Pop’s Hybe Acquires Latin Music Label

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By Marco Echevarria

South Korean music label Hybe Co, known for managing K-Pop group BTS, has acquired Exile Music, marking its entry into the Latin music market. Hybe plans to integrate K-pop’s rigorous artist training and development methods into Latin music.

This move aims to capitalize on the growing Latin music market, which reported significant growth in 2022. The acquisition comes as BTS takes a break due to military service, but the popularity of K-Pop continues to rise globally.

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% in 2022 compared to a 9% growth in the global music market according to its statement.