Universal Music Group NA struck a distribution deal with Hybe, gaining rights to the South Korean company’s roster of stars including BTS, Lil Baby and Thomas Rhett, along with deeper ties to the social-media app Weverse.
Universal, the world’s largest music company, signed a 10-year agreement to become exclusive distributer of Hybe artists’ music in much of the world, the companies said Tuesday. In addition, Universal will invest in the fan-centric Weverse communication app, according to the companies.
The accord will help both companies expand their global market share. Hybe, based in Seoul, has been releasing more English songs for K-pop bands and promoting artists including Jungkook in the US. Universal artists including Taylor Swift have been touring in Asia more often in recent years.