“I Need U” is what K-pop band BTS is singing to Universal Music Group.
The hugely popular boy band has signed a distribution deal with the firm, leaving Columbia Records, which is owned by Sony Music.
Universal Music Group, which is the largest music company on the planet, went public on Amsterdam’s Euronext exchange on September 21. Its holdings include the Beatles and Bob Dylan’s back catalogue, and Queen’s “Bohemian Rhapsody.” Columbia, meanwhile, boasts Beyoncé, Harry Styles, and Tony Bennett. No financial details about the deal have been released.
Last November, BTS became the first K-pop band nominated for a Grammy Award, and the band was added to the Guinness World Records Hall of Fame last month. Among the group’s world records are most-viewed YouTube video in 24 hours by a K-pop group, fastest time to reach one million followers on TikTok, and most tickets sold for a live-streamed concert.