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Big Hit and Universal are “rewriting global music history” with the joint K-Pop label, expanded partnership

Universal Music Group and Korea’s Big Hit Entertainment have announced details of a “history-writing project” in which the two companies will jointly assemble and debut a new K-pop boy band.

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The as-yet-undiscovered group’s music will be released under a new Los Angeles-based joint venture record label that Big Hit founded in collaboration with UMG and Geffen Records of the latter. UMG boss Sir Lucian Grainge says the project will “further accelerate K-Pop as a global cultural phenomenon”.

Members of the K-Pop group are selected as part of a global audition program that Universal and Big Hit says is on the right track in 2022 and is being launched in partnership with a major U.S. media partner.

The JV label was announced today as part of a broader “expanded strategic partnership” between Big Hit and UMG, in which the two companies will also collaborate across multiple projects and technology platforms, including Big Hits Weverse and VenewLive.

Last week UMG confirmed that it – alongside Big Hit, YG Entertainment and Kiswe – had become a stock investor in the VenewLive live streaming platform.

With the new JV label, both Big Hit and Universal / Geffen will each take on different global responsibilities.

Big Hit will use its expertise to guide new artist discovery, training and development, fan content production processes, and fan communication management through the Weverse platform.

In addition to working closely with a US media partner to produce the Audition program, Geffen Records will oversee music production, marketing and worldwide distribution.

“I am sure that what we are announcing here today will mark the beginning of a new chapter in music history.”

Sir Lucian Grainge, Universal Music Group

The broader partnership agreement provides for UMG artists to use Big Hit’s digital platforms, including the direct-to-fan platform Weverse, which reached 10 million downloads in early 2020 and is used by Big Hit fans in 200 countries, according to Lenzo Yoon .

Weverse, which was developed by the Big Hit subsidiary beNX itself, brings together content by and for artists, including music videos, teasers, films, merch sales and even live streams, and presents everything in one place for various artist-fan- Communities.

The platform is already used by UMG artists such as Gracie Abrams and New Hope Club. Alexander 23 and Yungblud will join Weverse in the coming months.

Sir Lucian Grainge, chairman and CEO of Universal Music Group, named Big Hit today “one of the most innovative music entertainment companies in the world that has achieved phenomenal global success by demonstrating that great music can transcend linguistic and cultural differences”.

Grainge commented, “We are delighted to be working with the powerhouse team behind the global success of Grammy-nominated group BTS, and I am sure that what we are announcing here today will mark the beginning of a new chapter in music history . “

Continuation Grainge: “[The] The success of our two companies is based on shared values ​​including an ethic of mutual respect with our artists, expertise in dealing with fans, and our ability to use technology to build global entertainment brands that go beyond music. “

“I can’t wait to see what great music and entertainment the partnership between our companies will bring.”

Sir Lucian Grainge, Universal Music Group

Universal’s boss added, “Big Hit Entertainment Chairman and CEO Si-Hyuk Bang and Global CEO Lenzo Yoon offer an innovative perspective on the incredible growth opportunities in today’s entertainment business.

“I can’t wait to see what great music and entertainment the partnership between our companies will bring.”

Bang Si-Hyuk, Chairman and CEO of Big Hit Entertainment, said, “Universal Music Group is a global entertainment leader with a foundation in music. It is one of the most influential companies that includes the world’s leading labels.

“Lucian, who made UMG what it is today, is without a doubt one of the top innovators in the industry. It is really an honor to be able to create a joint venture with such a group and carry out various global projects. “

“I am firmly convinced that UMG and Big Hit are two companies [have] Innovations pursued endlessly will create a synergy that will rewrite global music history. “

Bang Si-Hyuk, Big Hit Entertainment

He added: “The influence of UMG [and] The know-how gathered on the world music market in connection with the pioneering ideas and innovations of Big Hit Entertainment will enable previously unimaginable achievements.

“I would like to thank Lucian and Lenzo who played a key role in making this strategic partnership agreement a reality. I firmly believe that UMG and Big Hit, two companies that [have] Innovations pursued endlessly will create a synergy that will rewrite global music history. “

Lenzo Yoon, CEO Global & Business of Big Hit Entertainment, said, “I am extremely excited about the future in which Big Hit and UMG will work together. The importance of this project as an application of the formula for success that Big Hit Entertainment has established over the past 16 years in the USA, the center of the global music market, cannot be emphasized enough.

“The importance of this project as an application of the formula for success that Big Hit Entertainment has established over the past 16 years in the US, the center of the global music market, cannot be overstated.”

Lenzo Yoon, Big Hit Entertainment

Yoon went on to explain that the new group, signed to Big Hit and Universal’s JV label, will be based on the “K-pop system” and a combination of music, performance, fashion, music video and direct communication with fans would take over.

He added: “The result will go beyond a partnership between two companies and the combination of two industries and lead to a merging of cultures. I hope this path that our two companies have taken represents a brand new opportunity for the music industry. “

“This project offers both of us an incredible opportunity to learn from one another, challenge one another and help shape the next level of mutual development. We couldn’t ask for a better partner. “

John Janick, Interscope Geffen A & M.

John Janick, Chairman and CEO of Interscope Geffen A&M, said, “We are all incredibly excited about this joint venture between UMG’s Geffen Records and Big Hit.

“Personally, I’m particularly excited about the fact that we are hiring two of the world’s leading entertainment companies, each representing the East and the West.”

Janick added: In short, this project is an incredible opportunity for both of us to learn from one another, challenge one another and help shape the next level of mutual development. We couldn’t ask for a better partner. “Music business worldwide

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