Seoul, South Korea - HYBE, the South Korean entertainment company behind global sensation BTS, has entered into a new long-term agreement with Universal Music Group (UMG), granting UMG exclusive distribution rights to HYBE's roster of artists and labels for the next ten years.
The deal, announced on March 26, is designed to leverage UMG's global network to expand the reach of HYBE's talent.
As part of the partnership, UMG will work with HYBE's fan platform, Weverse, to foster deeper connections between UMG artists and their fans.
The two companies previously collaborated on distributing BTS albums in Japan and a global strategic agreement in 2021.
HYBE Chairman Bang Si-Hyuk, UMG CEO Sir Lucian Grainge, and HYBE America CEO Scooter Braun spearheaded the deal, recognizing the music industry's potential for growth and innovation.
The partnership is expected to expand HYBE's global footprint and create opportunities for independent artists and labels.
The companies plan to collaborate on artist promotions and marketing in North America.
