10-year deal: UMG grants exclusive distribution rights for Hybe's music, invests in Weverse, and collaborates on artist promotions.
Universal Music Group (UMG) has struck a 10-year deal with South Korea's Hybe Co., granting UMG exclusive distribution rights for Hybe's music in much of the world. This partnership will also see UMG invest in Hybe's fan-centric Weverse communication app, and the companies will work together on artist promotions and marketing activities in North America. The deal is expected to expand the global market share of both companies, as Hybe continues to release English songs for K-pop bands and promote artists internationally.
March 26, 2024
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