HYBE Is Raising $380M To Fund More Music Acquisitions In The US (music business worldwide)
HYBE, the music company behind K-pop superstars BTS and rising stars New Jeans, is looking to raise around 500 billion Korean won (approx USD $380m) to fund acquisitions in the US.
That's according to Bloomberg, which, citing people familiar with the matter, reports that the South Korean entertainment giant "is in talks with investors to secure equity financing".
The report adds, citing those same people, that HYBE "is open to having both strategic and financial partners".
HYBE chairman Bang Si-Hyuk has been vocal this year about his company's ambitions to expand its global presence via M&A and diversify its sphere of influence beyond K-Pop in the global music business.
In March, he explained his company's US M&A strategy in an interview with CNN, noting that "globally, [K-pop] is not occupying much of the market".
He added: "On the other hand, Latin music and afrobeats is very rapidly growing. So being where we are, it is more urgent to increase the exposure. For that purpose, I'm taking over labels and management companies in America to be able to build the infrastructure."
#MEX23: Keynote speakers named for Music Exchange 2023 (BizCommunity)
Meng Ru Kuok (US), Marc Marot (UK) and Dr Trevor Jones (UK) have been announced as speakers at this year's Music Exchange (#MEX23) Conference, taking place from 22-24 June 2023 at the Market Hall at GrandWest Casino and Entertainment World in Cape Town.
Meng Ru Kuok is the group CEO and founder of Caldecott Music Group, a global music industry investor and innovator spanning multiple sectors, including digital (BandLab Technologies), media (NME Networks), and manufacturing and retail (Vista Musical Instruments).
Caldecott Music Group's mission
By integrating the physical, digital, and social supply chain around music, CMG brings together brands and people passionate about music, allowing them to deliver authentic content, products, and experiences for all music lovers. CMG portfolio brands include BandLab, Cakewalk, MONO, Harmony, Heritage Guitars, Teisco, Swee Lee, NME, Guitar.com, MusicTech and Uncut.
The Music Exchange 2023 intent
At the core, Music Exchange (#MEX23) is a veritable teacher, delivering critically needed skills to the entertainment economy. It exists to serve the greater good of all stakeholders by promoting and fostering prosperity and sustainability within the arts sector and beyond.
A vibrant world-class South African music industry is premised on successful homegrown talent intent on attaining global reach and international acclaim.
MEX ensures the successful sharing of experiences and knowledge of keynote speakers with creatives participating in panel discussions, workshops, and showcases. After all, we can all do with inspiration and global best practices to apply immediately in our professional lives.
MEX brings together the finest local and international thought leaders to address a range of topical and relevant issues the industry faces today. Think Sampa, Samro, radio, the Copyright Amendment Bill, podcasts, PR, marketing, and monetising the entertainment economy – now and into the future
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