SEOUL, South Korea (CelebrityAccess) — South Korean entertainment company Hybe announced the singing of an expanded agreement with Universal Music Group that gives the label giant exclusive distribution rights for Hybe music for the next decade.
The deal covers Hybe’s roster of artists and labels, including groups such as BTS, Le Sserafim, Tomorrow X Together, and Hybe’s newest girl group quintet, Illit.
The new agreement will also see Hybe and UMG collaborate on artist promotions and marketing activities in North America under the oversight of the noted music executive Scooter Braun, who currently oversees Hybe America.
Under the terms of the agreement, UMG will also help to bolster Hybe’s mobile and web fan platform Weverse, which allows Hybe’s artists to communicate with fans and provides a channel for those fans to access merch and subscription-based content.
“A partnership of this magnitude only comes together when both sides are equally committed to continued growth. 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,” stated Bang Si-Hyuk, Chairman of HYBE.
“Chairman Bang, Scooter Braun and Jiwon Park have brought an innovative and progressive vision to the industry that underscores music’s global power. 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,” added Sir Lucian Grainge, Chairman and CEO of Universal Music Group.
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