Common Music Group (UMG) has expanded its relationship with HYBE to incorporate the unique digital and bodily distribution rights to the corporate’s artists for the subsequent 10 years. UMG will even proceed to collaborate with HYBE’s Weverse to onboard extra UMG signees to the superfan platform.
Scooter Braun, CEO of HYBE America, will tackle new tasks with the brand new settlement. The SB Tasks founder and former supervisor to Ariana Grande, Demi Lovato and J Balvin will now oversee all promotional and advertising collaborations between HYBE and UMG in North America.
Notably, this unique distribution deal doesn’t embody social media websites YouTube, Meta and TikTok, permitting HYBE artists to stay on the short-form video app regardless of UMG’s present licensing feud with TikTok.
The announcement builds upon the already established relationship between HYBE and UMG which began in 2017 with a partnership that gave UMG distribution rights to HYBE’s BTS in Japan. In late 2021, HYBE expanded the deal to grant UMG’s Geffen Information distribution rights for BTS in the US and different areas, transferring their U.S. distribution over from Sony Music’s Columbia Information.
Geffen and HYBE additionally labored collectively by way of a three way partnership to place collectively the Netflix and YouTube streaming documentary sequence The Debut: Dream Academy through which the 2 music corporations work collectively to kind an American woman group utilizing HYBE’s Okay-pop methodology.
Final 12 months, BMG additionally moved a few of its distribution to Common Music. In October, the corporate introduced that it will transfer its bodily distribution to UMG’s Industrial Providers divison, beginning within the second quarter of 2024. Will probably be totally transitioned by the tip of 2024.
“A partnership of this magnitude solely comes collectively when each side are equally dedicated to continued development,” says Bang Si-Hyuk, Chairman of HYBE. “UMG is an iconic music firm and along with HYBE, the potential is limitless. We’re sure that it will develop our world footprint, whereas benefiting our followers, artists, and labels.”
“Chairman Bang, Scooter Braun and Jiwon Park have introduced an modern and progressive imaginative and prescient to the trade that underscores music’s world energy,” provides Lucian Grainge, Chairman and CEO of Common Music Group. “With the alternatives in partaking the superfan by way of their groundbreaking Weverse mannequin, we’re thrilled to develop and develop our platform enterprise collaboration as we evolve collectively main the music trade’s evolution.”
“This unbelievable partnership between our corporations will guarantee mutual advantages and collaborations for the followers, groups, artists, and labels all over the world,” says Braun, CEO of HYBE America. “The chance created right here not solely permits us to assist our present roster, however develop alternatives for unbiased artists and labels globally. I’ve recognized and revered Sir Lucian Grainge for a few years, and alongside chairman Bang and HYBE CEO Jiwon Park, we sit up for the plain alternatives that can come from this partnership as we collectively develop the music trade’s future.”
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