Universal Music Group's Distribution Deal with Hybe Co.

Universal Music Group NA has struck a distribution deal with Hybe Co., gaining rights to the South Korean company’s roster of K-pop stars, like BTS and New Jeans, along with deeper ties to the social-media app Weverse. The world’s largest music company signed a 10-year agreement to become an exclusive distributor for Hybe artists’ music in much of the world. In addition, Universal will invest in the fan-centric Weverse communication app, according to the companies. The deal solidifies Universal Music Group's position in the global music industry and strengthens its connection to the expanding K-pop market. This strategic partnership opens up new opportunities for both companies, reflecting the growing influence and popularity of K-pop worldwide.