BTS end distribution deal with Universal Music Group

432
1
BTS end distribution deal with Universal Music Group

- pop boy band BTS is ending its distribution deal with Universal Music Group and will instead partner with Sony Music s Columbia Records, a person familiar with the situation said.

The move is a coup for Universal Music, which had been pursuing the tie-up for years. Universal Chief Executive Officer Lucian Grainge had personally wooed Bang Si-hyuk, founder of BTS s management company Hybe.

The deal includes Universal s Geffen Records division handling distribution and Universal s Ingrooves Music division providing creative support and marketing, according to the person, who asked not to be named as the plans remain private. Blackpink has had a deal with Universal s Interscope for three years with K-pop girl group Blackpink, which has made inroads with Western audiences and headlined the Coachella music festival in 2019.

Distribution deals for K-pop acts have been increasing in response to the growing global popularity of the genre. Universal and Hybe announced a new partnership on Thursday with YG Entertainment and Kiswe launching a new global live streaming platform. In February, Universal and Hybe announced an expanded strategic partnership that included a joint venture label with Geffen Records to debut a global K-pop boy band. According to IFPI, BTS was the top-selling recording act in the world last year. Its videos combined for 10.6 billion U.S. on-demand streams, according to Billboard, which first reported the deal.