HYBE, UMG Ink 10-Year Deal To Include Western Artists in KPOP Platform Weverse: Report

HYBE and Universal Music Group have come together to put all the biggest stars in the music industry on one huge platform to connect and interact with fans: Weverse.

As reported by Variety, the South Korean powerhouse behind KPOP sensations BTS and the music giant representing Taylor Swift have forged a 10-year alliance. This strategic move is designed to mutually benefit both companies and their signed artists, ensuring a win-win situation for all.

Meanwhile, HYBE's signed artists and labels will have access to UMG's leading global network, which will easily propel the KPOP acts to a larger international stage by collaborating on promotions and marketing in North America.

KPOP groups signed with HYBE labels include Seventeen, TXT, Le Sserafim, NewJeans, and more.

Fans Worry Over HYBE, UMG's New Deal

While the deal holds immense potential for both companies, we understand that fans of the artists signed to the labels may have concerns. We value your opinions and are committed to addressing them.

"HYBE always thinks about money and not artists I don't see them using this same energy to promote their big artists like BTS or their solo," a fan accused the South Korean company.

"Why do I feel like this isn't going to end well?"

"10 years... see you again in 2034, boycotters. Maybe you can make it to the purple box opening," another added, noting that a boycott would happen due to the new collaboration and partnership.

"HYBE killing the music industry we been trying to tell you."

Additionally, a fan shared a video of KPOP idol Hoshi telling fans it is alright if they do not purchase Seventeen's merchandise.

"Reminding y'all once again that Hoshi has mentioned how they only put out so much content to please the company & to not feel pressured to spend money on them," they wrote.

UMG Leaves TikTok

The deal with HYBE comes a few months after UMG removed their signed artists' music from TikTok for "trying to build a music-based business, without paying fair value for the music."

"With respect to the issue of artist and songwriter compensation, TikTok proposed paying our artists and songwriters at a rate that is a fraction of the rate that similarly situated major social platforms pay," the open letter read.

"As our negotiations continued, TikTok attempted to bully us into accepting a deal worth less than the previous deal, far less than fair market value and not reflective of their exponential growth."

According to reports, UMG pulled music by Swift, Drake, BTS, Justin Bieber, Billie Eilish, Lady Gaga, The Weeknd, Ariana Grande, and more from the platform.

Tags

Universal Music Group, BTS, TikTok