Big Hit Entertainment and Universal Music Group have launched their strategic partnership and will debut a global boy group together in 2022.
Big Hit Entertainment Chairman and CEO Bang Si Hyuk, Universal Music Group Chairman and CEO Sir Lucian Grainge, Interscope Geffen A&M Records Chairman and CEO John Janick, and Big Hit Entertainment Global CEO Lenzo Yoon shared in their announcement a new partnership that will change music history.
First, Sir Lucian Grainge announced the three key partnerships between Big Hit Entertainment and Universal Music Group: launching a brand new global artist project, using Big Hit’s platforms and technology to enhance artist connections with the world, and enhancing the fan and artist experience. He shared that both companies built their company using shared values, such as mutual respect for their artists, expertise in connecting with fans, and ability to use technology to build brands.
Bang Si Hyuk shared how it would be an honor to establish a joint venture with Universal Music Group, and showered the company with praise for its legacy, influence, and expertise.
Lenzo Yoon shared more details about the global boy group project. The boy group will be prepared to debut on a global stage, with global auditions planning to be held in 2022 and will be broadcast in the United States with a media partner.
Big Hit Entertainment will be in charge of discovering and training the artists, fan content production, and communication with fans through Weverse while Universal Music Group will be in charge of the music production, global distribution, and producing the audition program with their U.S. media partners.
By combining Universal Music Group’s robust network of producers, composers, production capabilities, and marketing with Big Hit Entertainment’s “K-Pop style” knowledge, the two companies will maximize their synergy as they work to provide fans around the world with a group never before seen anywhere else. A joint venture label headquartered in Los Angeles, California will lead the project. The boy group that is formed through this project will follow the K-Pop system of music, performance, fashion, music videos, and fan engagement.
Sir Lucian Grainge shared more about how the partnership will also include the new technology to help connect artists and fans. The partnership will allow Universal Music Group artists to communicate more with their fans, live streaming through Weverse and VenewLive, and more Universal Music Group artists will be joining Weverse. Universal Music Group artists will also showcase more curated performances through VenewLive.
Lenzo Yoon shared how there are even more features waiting to be added to Weverse for fans to enjoy communicating with artists and sharing content, as well as other features such as live streaming and merchandise, and shared that any artists that wishes to join the platform will be able to.
Closing the announcement, a scene showing each of the four company leaders signing the partnership agreement was included, sealing the deal in their future.