Universal Music Group (UMG) has entered a 10-year “global alliance” with Korean entertainment company, HYBE, the home of K-pop groups BTS, SEVENTEEN, and NewJeans. The deal expands the agreement between the two companies to give UMG “exclusive distribution rights” to HYBE releases and access for HYBE’s artists to the former’s “global network”. UMG will also collaborate with HYBE’s fan platform Weverse, delivering a “direct connection between UMG artists and their fandom[s]”. In addition, the two companies will work on artist promotions and marketing activities in North America, led by HYBE America’s CEO Scooter Braun. Bang Si-hyuk, HYBE’s founder, said that the new agreement would expand the company’s global footprint.
UMG previously worked with HYBE on a Japanese distribution agreement for BTS in 2017. The boy band signed to the label in 2021, following the end of their contract with Sony Music’s Columbia Records. HYBE and UMG subsidiary Geffen Records also launched the girl group KATSEYE through the audition programme, The Debut: Dream Academy. Lucian Grainge, Chairman and CEO of UMG, said: “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.”
Bang Si-hyuk said that a deal of this scale was only possible when both sides were equally committed to growth, while benefiting fans, artists, and labels. He added: “We are certain that this will expand our global footprint, while benefiting our fans, artists and labels”. The latest agreement between the two companies includes much deeper collaboration and expanded opportunities for HYBE and its artists, thanks to UMG’s extensive global reach
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