HYBE, the South Korea-headquartered entertainment powerhouse behind K-Pop superstars BTS, took its first steps in establishing itself in the Latin music market with the acquisition of record label Exile Music last fall.
By acquiring the Exile Music label, HYBE launched a Mexico-based Latin Music arm called HYBE Latin America.
The company has now announced that industry veteran Fernando Grediaga has been appointed as General Manager of the newly formed HYBE Latin America.
Former YG Entertainment executive Kah Jong-hyun is CEO of the new division.
Grediaga boasts over two decades of experience in the music industry, having collaborated with iconic Latin American artists like Alejandro Fernández, Molotov, Luis Fonsi, Café Tacvba, Belanova, Zoé, RBD, and Mon Laferte, to name a few.
Prior to joining HYBE, Grediaga held leadership positions at Universal Music Groupand EMI Music. He previously led Universal Music Mexico’s marketing team as Director of Marketing, after serving as Director of Marketing Latino & Anglo at EMI Music Mexico.
His expertise spans various areas of the entertainment industry, including intellectual property, legal matters, and venture investments, across diverse cultures and markets worldwide, HYBE said.
“Fernando is a great addition to HYBE LATIN AMERICA, and we are very excited to work with him and look forward to expanding the business even further based on his vast experience in the industry,” said JH Kah, CEO of HYBE Latin America.
“Fernando is a great addition to HYBE LATIN AMERICA, and we are very excited to work with him and look forward to expanding the business even further based on his vast experience in the industry.”
JH Kah, HYBE Latin America
Grediaga also commented on his appointment, saying, “I am thrilled to join HYBE LATIN AMERICA, and hope to contribute towards establishing a company that fosters talent and a transnational vision, providing equal opportunities for emerging and established artists in the region.”
HYBE Latin America is set to introduce new “promising artists” to its roster, the company said.
Formerly known as Big Hit Entertainment, HYBE rebranded in March 2021, reflecting its evolution into a global entertainment lifestyle platform. HYBE boasts a comprehensive multi-label system encompassing BIGHIT MUSIC, BELIFT LAB, SOURCE MUSIC, PLEDIS Entertainment, KOZ ENTERTAINMENT, ADOR, HYBE LABELS JAPAN, NAECO, and HYBE AMERICA, which manages affiliates including Big Machine Label Group and QC Music.
“I am thrilled to join HYBE LATIN AMERICA, and hope to contribute towards establishing a company that fosters talent and a transnational vision, providing equal opportunities for emerging and established artists in the region.”
Fernando Grediaga, HYBE Latin America
Beyond labels, HYBE has established a solutions business encompassing concert production, video content creation, gaming, original story development, and retail ventures. Further bolstering its ecosystem is Weverse, the company’s global platform dedicated to fostering fan communities. HYBE has offices strategically located in Korea, Japan, the US, and now Mexico.
The expansion to Mexico comes as HYBE has been raising capital to expand its portfolio including in Latin America. Last year, Bloombergreported that HYBE was raising around USD $380 million “to fund acquisitions in the US and expand its business beyond K-pop”.
At the time, many speculated that HYBE would target M&A opportunities in Latin Music as that category continues to grow. Latin Music topped $1 billion in US recorded music revenue in 2022, claiming an 8% market share of streaming revenues in that market.
True enough, HYBE in November confirmed its acquisition of Latin Music company Exile Music, an affiliate label of Spanish language entertainment studio Exile Content, which in turn is a division of Candle Media, led by prominent entertainment executivesKevin Mayer and Tom Staggs.
The acquisition paved the way for HYBE to launch HYBE Latin America, led by JH Kah, a former YG Entertainment executive.
HYBE recently reported a 22.6% YoY jump in annual revenues in 2023, to 2.178 trillion South Korea Won ($1.66 billion), partly driven by strong sales from K-Pop stars including Jungkook and Seventeen.
