Big Hit Entertainment (Big Hit), the parent company of Grammy-nominated group BTS and Universal Music Group (UMG), today announced an expanded strategic partnership that will see the two companies working closely together to increase opportunities for them. artists through innovation and technology, while expanding the global reach of K-pop music and culture across the globe.
UMG artists will explore enhanced ‘direct to fan’ communications via Big Hit’s Weverse, a vibrant community platform that allows fans of loyal artists to engage, share and interact, see and hear new content and buy new products. Weverse is already used by UMG artists Gracie Abrams, New Hope Club and Alexander 23, with Yungblud being part of the next wave of talent joining Weverse in the coming months.
This follows the announcement last week that UMG has become an equity investor alongside Big Hit, YG Entertainment and Kiswe on KBYK’s premium live streaming platform VenewLive.
Making the joint announcement today through KBYK’s VenewLive platform, the two companies also announced the exciting details of a project to assemble and first launch a new global K-pop boy group in the States. -United.
The new artist project will be released under a new JV label which will be created between Big Hit, the team of global power behind the Grammy-nominated group’s phenomenal worldwide success BTS, in partnership with Geffen Records of UMG, a label history that has helped shape the world’s youth and music culture over the past 40 years, through iconic artists such as Nirvana, Guns N’Roses, Elton John and Avicii, alongside groundbreaking global pop artist from 2021, Olivia Rodrigo, to name a few.
The newly created label will operate out of Los Angeles and will work closely with teams from Big Hit America, Geffen Records and UMG to successfully launch this project.
The members of this new boy group will be selected as part of a global audition program, which is expected to start airing in 2022 and will be launched in conjunction with a major US media partner. The World’s First Act will operate on the basis of the K-pop system – A Complete Production that combines music, performance, fashion, music video and communications with fans.
Big Hit will use its global expertise to lead the discovery, training and development of new artists, the production processes of fan content, and the management of fan communications through the Weverse platform. In addition to working closely with an American media partner to produce the audition program, the Geffen Records team will draw on its extensive industry network and partners to oversee music production, marketing and distribution operations. global.
Making the announcement, Bang Si-Hyuk, CEO of Big Hit Entertainment, said, “Our two companies indeed share values and visions as we both pursue constant innovation and are committed to providing our fans authentic music and content. highest level of quality and without compromise. “
He added, “In that sense, I firmly believe that UMG and Big Hit will create a synergy that will rewrite the world’s music history.”
Lenzo Yoon, CEO Global & Business of Big Hit Entertainment, said, “We will strive to secure the leadership of the competitive platform and develop a premier group of artists through a close partnership between our two companies, enabling K-pop to transcend all borders and all languages.
He added, “This project is particularly important because it will apply the Big Hit ‘success formula’ established over the past 16 years in the United States, the center of the global music market.”
Sir Lucian Grainge, President and CEO of Universal Music Group, said: “With their innovative approach to artist development and the adoption of new technologies, Big Hit has become one of the fastest growing companies in entertainment. musical. We are excited to be working together as we launch a new joint venture between our companies that will further accelerate K-pop as a global cultural phenomenon.
John Janick, President and CEO of Interscope Geffen A&M said: “We are all extremely excited about this joint venture project between Geffen Records and Big Hit. This partnership gives us both an incredible opportunity to work together in helping to shape the future of music globally for the benefit of artists and fans.
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