Big Hit Entertainment (Big Hit), the Korean agency that brought BTS to the world and Universal Music Group (UMG) today announced a partnership that will "increase opportunities for artists through innovation and technology, whilst expanding the global reach of K-pop music and culture around the world." The two are the world's biggest music companies and their collaboration could mark a radical change in the international music scene.
In a short press presentation today, Bang Si-Hyuk the CEO of Big Hit Entertainment, Lenzo Yoon, CEO of Global and Business at Big Hit Entertainment, Sir Lucian Grainge, Chairman and CEO, Universal Music Group and John Janick, Chairman and CEO, Interscope Geffen A&M, discussed the joint venture. The plans include a new boy band and opening up Weverse (a platform that lets fans interact, share and buy new content) for UMG artists to explore “direct to fan” communications. Gracie Abrams, New Hope Club and Alexander 23 and Yungblud are among the new wave of talent joining the platform.
Wait, a new boy band launched by Big Hit and UMG?
Big Hit and UMG are set to work on a "history-making" project to debut a new global K-pop boy group together in the U.S. The new artist project is set to be released under a new JV label which is created by a collaboration between Big Hit and UMG's Geffen Records. This is a first. The artists will be scouted via global auditions and will follow the K-pop system described as a full production that combines music, performance, fashion, music video, and communications with fans. The new artist program is expected to launch somewhere in 2022. The Korean company will take over the discovery and training of the upcoming boy group. After BTS, Tomorrow X Together and ENHYPEN, it looks like Big Hit has set its gaze to an international approach that is sure to tear down cultural boundaries.
Talking about the collaboration and its philosophy, Bang Si-Hyuk said, “Our two companies indeed share values and visions in that we both pursue constant innovations, and are committed to providing our fans with genuine music and content of the highest and uncompromising level of quality.” He added, “In this sense, I strongly believe that UMG and Big Hit will create a synergy that will rewrite the global music history.”
Lenzo Yoon further added, “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.” He added, “This project is especially significant as it will apply Big Hit’s ‘success formula’ established over the past 16 years to the U.S., the center of the global music market.”
Sir Lucian Grainge said, “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.”
John Janick said, “We are all incredibly excited about this joint venture project between Geffen Records and Big Hit. 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.”
SEE ALSO: BTS’ Colourful Outfits From ‘Dynamite’ Auctioned At THIS Price For Charity
Cover image: Big Hit Entertainment
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