South Korean entertainment conglomerate Hybe Corp. will establish an Indian subsidiary by October as the BTS management company looks to replicate its K-pop success formula in new markets.
The unit, set to launch between September and October, represents Chairman Bang Si-hyuk’s “multi-home, multi-genre” strategy designed to export K-pop methodologies to the massive Indian market of 1.4 billion people. The subsidiary will market Hybe’s existing roster including BTS and Seventeen while developing local talent.
India ranks as the world’s 15th largest recorded music market by annual revenues, making it an attractive target as Hybe seeks growth beyond traditional strongholds. The expansion follows the company’s recent establishment of subsidiaries in China and Latin America.
However, Hybe faces financial headwinds despite the global push. The company recorded record revenue of $1.65 billion in 2024 but swung to a net loss of $2.48 million, compared to a $135 million profit in 2023. Operating profit dropped 37.5% year-over-year to $136 million, attributed to BTS members’ military service and increased investment costs.
The Indian venture tests whether Hybe’s data-driven artist development model can translate across vastly different cultural landscapes while addressing investor concerns about the company’s ability to maintain profitability during its aggressive international expansion phase.
