UMG AND BIG HIT JOINING FORCES

Universal Music Group and Big Hit Entertainment have struck a partnership that includes a joint venture label between Geffen Records and Big Hit and enhanced fan/artist experiences for UMG artists through the Venewlive and Weverse platforms.

The arrangement will provide further technological opportunities to UMG artists and expand the global reach of K-Pop.

UMG artists will explore enhanced direct-to-fan communications through Big Hit's Weverse, which allows fans to engage with artists, see and hear new content and purchase merchandise. Gracie Abrams, New Hope Club and Alexander 23 are already using the platform, with Yungblud on deck.

“We’re thrilled 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,” Grainge said.

Based in Los Angeles, the new JV label will employ teams from Big Hit America, Geffen Records and UMG; Geffen will oversee music production, marketing and global distribution.

The label will launch with a new boy group, to be selected through a televised global audition program on track for 2022.

Lenzo Yoon, CEO Global & Business, Big Hit Entertainment, said, “We will strive to secure competitive platform leadership and develop a top group of artists through the close partnership between our two companies, enabling K-pop to transcend all borders and languages.”

UMG and Big Hit went above and beyond the usual press release to announce the collaboration—UMG chief Sir Lucian Grainge, IGA boss John Janick and Big Hit Chairman/CEO Bang Si-Hyuk and Global CEO Lenzo Yoon delivered the news via Venewlive.

"It's an opportunity to learn from one another," Janick remarked. Said Bang, “I believe the synergy created by UMG and Big Hit will rewrite global music history."