SEOUL – Hybe, the South Korean music company behind pop groups BTS and NewJeans, has acquired the music division of Spanish-language studio Exile Content, its first step into the burgeoning market for Latin music.

Billionaire Bang Si-hyuk, founder of Hybe and creator of BTS, is expanding outside South Korea to diversify beyond K-pop, which has had slower growth in some regions recently.

BTS, the company’s most successful group, are on hiatus for a couple of years while the members serve in the South Korean army.

The group have plans for a reunion in 2025, with an album and a project celebrating the 10th anniversary of their album The Most Beautiful Moment In Life Part 1, Mr Bang said at the Bloomberg Screentime event in October.

Hybe acquired music executive Scooter Braun’s Ithaca Holdings, a management company and record label, in 2021, and bought Quality Control, an Atlanta-based record label, earlier in 2023. Both are based in the United States, the world’s largest music market, and specialise in English-language music.

Recorded music sales climbed 26 per cent in Latin America in 2022, according to the International Federation of the Phonographic Industry. Latin music sales have also spiked in the US, where acts such as Shakira, Karol G and Bad Bunny have topped the charts.

“In the long term, Hybe aims to graft K-pop’s proven methodology to the Latin genre,” Hybe said in a statement.

“Hybe Latin America will unveil various businesses in the near future, such as the Latin global group project that will be based on K-pop’s training and development system.” BLOOMBERG