The two labels announce expanded strategic partnership
Big Hit Entertainment (Big Hit), and Universal Music Group (UMG), have announced an expanded strategic partnership that will see the two companies work closely together to increase opportunities for artists through innovation and technology, whilst expanding the global reach of K-pop music and culture around the world. With that, the two companies are assembling a history-making global K-pop boy group in the U.S. for the first time.
Global auditions for the new boy group will begin in 2022 and will launch with a major U.S. media partner to be announced. The new group will be the flagship artist under a new JV label, which is a joint venture between Big Hit and UMG’s Geffen Records. The newly created label will operate from Los Angeles and will work closely alongside teams from Big Hit America, Geffen Records and UMG to oversee the music production, marketing and global distribution operations. Big Hit will utilize its global expertise to lead the discovery, training and development of new artists, fan content production processes, and management of fan communications through the Weverse platform.
“With their innovative approach to developing artists and embracing new technology, Big Hit has become one of the most dynamic companies in music entertainment. 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,” says Sir Lucian Grainge, Chairman & CEO, Universal Music Group.
“We are all incredibly excited about this joint venture project between Geffen Records and Big Hit,” adds John Janick, Chairman & CEO, Interscope Geffen A&M. “This partnership offers both of us an incredible opportunity to work together helping to shape the future of music globally to the benefit of artists and fans alike.”
The expanded partnership also enhances UMG artists’ “direct to fan” communications through Big Hit’s Weverse, a dynamic community-based platform that allows loyal artist fans to engage, share and interact, see and hear new content and purchase new products. UMG artists Gracie Abrams, New Hope Club and Alexander 23, with Yungblud are already using the Weverse platform with others coming soon.
The partnership follows last week’s announcement that UMG has become an equity investor alongside Big Hit, YG Entertainment and Kiswe in KBYK’s VenewLive premium live streaming platform.
