HYBE, the company behind BTS, NewJeans, and other K-pop groups, has now reached a 10-year deal with Universal Music Group, according to Variety. This partnership will provide HYBE’s artists with resources through the label’s “leading global network.”
Meanwhile, UMG will utilize HYBE’s Weverse social media platform to further promote their own artists. In North America, per the outlet, Scooter Braun will continue to be in charge as the CEO of HYBE America, helping to “collaborate on artist promotions and marketing activities.”
“A partnership of this magnitude only comes together when both sides are equally committed to continued growth,” Bang Si-Hyuk, HYBE’s chairman, shared. “UMG is an iconic music company and together with HYBE, the potential is endless. We are certain that this will expand our global footprint while benefiting our fans, artists, and labels.”
“Chairman Bang, Scooter Braun, and Park Jiwon have brought an innovative and progressive vision to the industry that underscores music’s global power,” Lucian Grainge, UMG’s CEO and chairman, added. “With the opportunities in engaging the superfan via their groundbreaking Weverse model, we’re thrilled to grow and expand our platform business collaboration as we evolve together leading the music industry’s evolution.”
This deal serves as a continuation of the two companies working together, as HYBE and UMG connected in 2017 for a “distribution agreement in Japan.” Yesterday, Hybe revealed their new K-pop girl group Illit, with a forthcoming debut album titled Super Real Me. Another new band called KATSEYE also will be debuting later this year.
Source: https://uproxx.com/pop/hybe-universal-music-group-deal/
