Chairman and CEO of Big Hit Entertainment Bang Si Hyuk, President and CEO of Universal Music Group Sir Lucian Grainge, Chairman and CEO of Interscope Geffen A&M Records John Janick and Big Hit Entertainment Global CEO Lenzo Yoon announced their partnership that will change the history of music in their statement. Big Hit Entertainment and Universal Music Group will start their strategic partnership by forming a global boy band in 2022.
Sir Lucian Grainge stated that there will be three key partnerships between Big Hit Entertainment and Universal Music Group: “launch a brand new global artist project” , “use Big Hit platforms and technology to improve artists’ connections to the world” and ” enhance the fan and artist experience “.
Bang Si Hyuk said it was an honor to establish a joint venture with Universal Music Group.
Lenzo Yoon shared more details about the global boy group project. The boy group will debut on a global stage with a global audition in 2022 and will be broadcast in the US with a media partner.
Big Hit Entertainment will be responsible for discovering and educating artists, fan content production, and communication with fans through Weverse; Universal Music Group will be responsible for music production, global distribution and production of the audition program with US media partners.
Combining Universal Music Group’s strong network of producers, composers, production talents and marketing with Big Hit Entertainment’s “K-Pop style” knowledge, the two companies will work to provide a never-before-seen band to fans worldwide.
A joint venture company headquartered in Los Angeles, California will lead the project. The boy band created through this project will follow the K-Pop music, performance, fashion, music videos and fan engagement system.
Sir Lucian Grainge will allow the partnership to allow Universal Music Group artists to communicate more with their fans, broadcast live via Weverse and VenewLive, and Universal Music Group artists will join Weverse.
Lenzo Yoon shared what more features are waiting to be added to Weverse, as well as other features such as live streams and products so that fans can enjoy communicating and sharing content with artists.
At the end of the video prepared for informative purposes, the images of four senior executives signing the partnership document were shared.
