HYBE Signs 10-Year Partnership Deal With Universal Music Group — What Will Happen To Its Artists?
HYBE has officially entered a new deal with Universal Music Group, expanding its partnership for the future of its artists.
Read more to learn further details.
HYBE Expands Partnership Deal With Universal Music Group For Next 10 Years
On March 26, HYBE Labels expanded its partnership with Universal Music Group to acquire efficient distribution rights to the agency's artists for the next 10 years.
(Photo : Universal Music Group)
Outlets reported that Universal Music Group will also collaborate with HYBE's Weverse, which will place more UMG artists on the fan platform. While Weverse is included in the merge, the distribution deal will not include sites such as YouTube, Meta, and TikTok.
This only means that the artists under HYBE will still be able to remain on TikTok despite the ongoing licensing feud between Universal Music Group and the platform.
HYBE Chairman Bang Si Hyuk let out a brief statement and expressed his enthusiasm for the expansion.
(Photo : Bang Si Hyuk (News1))
"A partnership of this magnitude only happens when both sides are equally committed to continuous growth," Bang Si Hyuk shared. "UMG is an iconic music company and with HYBE, there is endless potential."
He continued, "We are certain that this (endeavor) will expand our global footprint while benefiting our fans, artists, and labels."
Meanwhile, CEO of Universal Music Group Sir Lucian Grainge, conveyed his thoughts regarding the expansion of the partnership.
"With the opportunities in engaging the superfan via their astounding Weverse model, we're excited to develop our platform business collaboration as we evolve in leading the music industry's evolution," the CEO stated.
In 2017, the deal between HYBE and Universal Music Group started when BTS signed for distribution inside Japan.
However, in October 2021, HYBE signed a new contract with UMG for BTS's exclusive distribution and marketing inside the United States and other countries. The signing was concluded after BTS left Sony Music's Columbia Records since joining in 2018.
The information was then confirmed by HYBE, which released a statement addressing BTS's departure from Columbia Records and their new endeavor with Universal Music Group.
"We truly appreciate the time we have spent with Sony, and we thank them for their efforts," HYBE stated. "We are looking forward to our new chapter with Universal."
HYBE's Newest Deal Expansion With UMG Receives Mixed Reactions
On social media platform X (Twitter), the reactions towards the new partnership were divided.
OMG IMAGINE TAYLOR ON WEVERSE DOING LIVES AND TALKING W US OMGOMGOMG https://t.co/EHRpfbFU9c pic.twitter.com/5BbBc3Jw6z
— swt♡ (@swtrobbie) March 26, 2024
we used to be a proper nation https://t.co/xPFxF20QqS pic.twitter.com/bJ5iD9LrlG
— mev (@txtoptier) March 26, 2024
oh camilla cabello was waiting for this moment pic.twitter.com/2uGAqyb3hz https://t.co/hnzK4NnKjH
— 🎀 (@jisooswar) March 26, 2024
i miss the days when weverse was just txt and bts https://t.co/0kfHB2xCMT
— jaykay 🎧 (@vmnkooker) March 26, 2024
im so tired of hybe like they really managed to single handedly ruin kpop https://t.co/tRs4dh8NoV
— mery simon eriksson #1 defender (@jonghyunstory) March 27, 2024
its naive to think justin, drake or taylor are gonna use weverse when they have hundreds of millions of followers on their personal insta accs
— sora 🌱 | 🪞🎧🌟 | HOTS (@sugarykm13) March 26, 2024
plus they don’t interact w fans much on internet
hybe gotta think about promoting bts, one of the biggest artists in the world better https://t.co/LsLhLUzHdg
What was your reaction to the expansion? Are you looking forward to more of HYBE's artists? Let us know in the comments below!
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