K-Pop superstars BTS ditched Columbia Records from Sony Music as a distributor and marketing partner in favor of Universal Music.
Key points:
- BTS was recognized as the largest group in the music industry in 2020
- Financial details of the deal have yet to be released.
- Losing K-Pop stars is another blow to Sony, which earlier this month was mired in a toxic culture scandal in its Australian office
The move was confirmed by BTS management firm Hybe after initial reports from Billboard and Bloomberg.
Bighit Music, owned by Hybe, who manages BTS, did not disclose the financial terms of the deal, but said Universal and its US label Interscope would distribute and market BTS music in the United States and throughout the world. other regions.
The deal expands the entertainment company’s existing partnership with Universal as it seeks to increase the popularity of K-pop music around the world.
The move is another blow to Sony, which has been embroiled in a scandal in recent weeks after an ABC Four Corners report revealed a toxic workplace in Australia under the leadership of former chief executive Denis. Handlin.
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The Korean boy group made up of members Jungkook, Jin, J-Hope, RM, V, Jimin and Suga has started to experience crossover success in Western markets over the past year thanks to the hit singles Dynamite, Butter and Permission. to Dance Along with a range of successes in their native Korean.
They also recently released a compilation single with British band Coldplay called My Universe.
Their success saw them become the largest group in the world in 2020 according to the International Federation of the Phonographic Industry (IFPI), an organization that represents the global music industry.
According to this report, the South Korean group have broken countless records in their home country as well as abroad.
Known for its social agenda, BTS performed last month and spoke at the United Nations General Assembly to deliver a message of hope to the world on vaccine use and also on climate change.
Universal, whose other successful singers and catalogs include Justin Bieber and the Beatles, was premiered by Frenchman Vivendi last month.
Neither Sony nor Universal have yet responded to requests for comment.
Reuters / ABC
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