HYBE signs exclusive 10-year distribution deal with Universal Music Group

K-pop

Published: 27 Mar. 2024, 14:36 Updated: 27 Mar. 2024, 17:11

HYBE signs exclusive 10-year distribution deal with Universal Music Group

From left, HYBE Founder and Chair Bang Si-hyuk, Universal Music Group (UMG) Chair and CEO Lucian Grainge and HYBE America CEO Scooter Braun pose for a photo. HYBE and UMG closed a deal that will give UMG exclusive digital and physical distribution rights to HYBE artists' music for the next 10 years. [HYBE]

HYBE, the K-pop powerhouse behind BTS and NewJeans, expanded its deal with Universal Music Group (UMG), granting the latter exclusive digital and physical distribution rights to its artists’ music in much of the world for the next 10 years.

UMG has previously handled the distribution of many artists signed to HYBE's multi-label system in North America and other regions. The new deal — inked by HYBE Founder and Chair Bang Si-hyuk, HYBE America CEO Scooter Braun and UMG Chair and CEO Lucian Grainge — grants the conglomerate the exclusive distribution of all of HYBE's current artists, as well as those who join the company in the future.

The two companies are also in discussions to bring more UMG artists to HYBE's fan platform Weverse.

The distribution deal does not include social media sites such as YouTube, Meta and TikTok, allowing HYBE artists to remain on TikTok despite UMG’s ongoing music licensing battle with the platform, as reported by Billboard.

Braun will now oversee promotional and marketing collaborations between HYBE and UMG in North America.

The two conglomerates struck their first deal, enabling UMG to distribute BTS's music in Japan, in 2017. An expanded deal, signed in 2021, granted UMG subsidiary Geffen Records the distribution rights for BTS in the United States and other regions and also launched collaborative projects including girl group audition show “The Debut: Dream Academy” (2023).

“UMG is an iconic music company, and together with Hybe, the potential for growth is endless. We are certain that this partnership, made with both companies’ commitment, will benefit our fans, artists and the whole music industry,” Bang said.

“We are pleased to collaborate with HYBE Chairman Bang Si-hyuk, who has presented an innovative and progressive vision for the music industry,” Grainge said. “Under this partnership, we will look for ways for mutual growth in the platform sector, starting with HYBE’s superfan platform Weverse.”

BY KIM JU-YEON [kim.juyeon2@joongang.co.kr]