BTS: Hybe strikes 10-year-deal with Universal Music Group, 'This will expand our global footprint,' says Bang Si-Hyuk

Bang Si-Hyuk, Lucian Grainge, Scooter Braun Pic/Instagram

K-pop superband BTS' firm Hybe chairman Bang Si-Hyuk has struck a 10-year deal with Universal Music Group (UMG). As per Variety, it will grant access to UMG's global network to artists and labels managed by Hybe. It will further collaborate with Hybe's platform Weverse, a one-stop destination for fans to connect with their favourite idols. It is an addition to the promotion activities under Scooter Braun, CEO of Hybe America, who is currently overseeing the North American belt.

Bang Si-Hyuk said in a statement, "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."

UMG's chairman and CEO, Lucian Grainge stated, "Chairman Bang, Scooter Braun, and Park Jiwon 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."

Hybe, formerly known as Big Hit Entertainment, rose to fame with BTS - comprised of RM, Jin, Suga, J-Hope, Jimin, V, and Jungkook. As of now, the boy band is fulfilling mandatory military service. All seven members of BTS will complete the same over the next couple of months and will reunite in 2025.

The decision by BTS to enlist helped avert a sticky situation for South Korea's government. Military service is compulsory for all able-bodied males under 30 years old. The current system allows for some exceptions on the grounds of exceptional service to the country. Some top athletes and classical musicians have been excused on this basis, but pop artists have not. Military conscription is mandatory for up to 28 months minimum, though sometimes K-pop singers and K-drama actors are let off easier as they are mostly given duties related to sanitation, cooking, cleaning, engineering, or medical to avoid any facial damage.

(With inputs from Agencies)