Big Hit Entertainment, the South Korean company behind the boy-band phenomenon BTS, is expanding a strategic partnership with Universal Music Group and its Geffen Records label in an ambitious attempt to replicate the successful K-pop formula—and the social media virality that goes along with it—with an American music company.
Company executives, including UMG chief Lucian Grainge and Big Hit CEO Bang Si-Hyuk, announced the move Wednesday on VenewLive, a live-streaming platform launched by Big Hit last year in which UMG recently became an investor.
Lenzo Yoon, Big Hit’s global business CEO, described the partnership as a “fusion of cultures.” Under the arrangement, UMG will leverage Big Hit’s technology, notably the social networking app Weverse, while Big Hit gains a deeper global footprint with an American music powerhouse whose roster includes everyone from Nirvana to Olivia Rodrigo.
The companies are launching a Los Angeles-based label as part of the deal and have announced that the search is on for the next K-pop sensation, with auditions to begin in 2022. The newly discovered boy band will debut in the United States, a first for a K-pop group.
Founded in 2005, Big Hit debuted on the Korea Exchange in October, one of the largest IPOs there in years.
Recognize your brand’s excellence by applying to this year’s Brands That Matter Awards before the early-rate deadline, May 3.
