Okay-pop superstars BTS have signed a new deal with Universal Music Group/Interscope for distribution and advertising in the United States and different areas.
In an official statement provided to MBW today (October 22), a HYBE spokesperson said that the deal forms part of a “continued effort to expand the strategic partnership” with Universal Music Group, which announced in February, included the formation of a JV label with Interscope.
Billboard first reported the news of BTS’s exit from Columbia, and citing sources, stated that the deal ‘is the result of a years-long effort’ by UMG Chairman & CEO, Sir Lucian Grainge and Interscope CEO John Janick.
Speaking in February, Sir Lucian Grainge referred to as Big Hit “one of the world’s most innovative music entertainment companies, having achieved phenomenal global success by demonstrating that great music can overcome language and cultural differences”.
Bang Si-Hyuk, then Chairman & CEO of Big Hit Entertainment, added on the time that “UMG’s influence [and] expertise accumulated in the world’s music market, coupled with Big Hit Entertainment’s pioneering ideas and innovation, will enable previously unimaginable feats”.
According to Variety, BTS’s deal with the Orchard was primarily based on ‘a month-to-month contract’, with the new UMG deal to be efficient, from December 1.
Two of the group’s largest hits, English language singles Dynamite and Butter went by means of Columbia in the US, with the latter observe breaking the all-time record for day-one streams on Spotify on Friday May 21 this 12 months, racking up 20.9 million world performs in its first 24 hours on the platform.
Butter was co-written and co-produced by Columbia Records Chairman and CEO, Ron Perry.
BTS’s newest single is the Max Martin produced My Universe, a collaboration with Coldplay (Parlophone/Atlantic), which hit No.1 in the US firstly of the month.
“While we greatly appreciate our time with Sony (Columbia/Orchard) and will forever be grateful for all they have done and will continue to do, we look forward to our new chapter in partnership with Universal.”
In a press release despatched to MBW at this time, a HYBE spokesperson, stated: “We have decided to sign a new deal with Universal Music Group/Interscope regarding distribution and marketing in the United States and other regions.
“It is our continued effort to expand the strategic partnership with them, announced last February.
“While we greatly appreciate our time with Sony (Columbia/Orchard) and will forever be grateful for all they have done and will continue to do, we look forward to our new chapter in partnership with Universal.”Music Business Worldwide