Big Hit Entertainment & Naver Partnership with Universal Music Group

Big Hit Entertainment and Naver are pursuing to establish a partnership with America’s Universal Music Group (UMG). This partnership aims to enlarge its global business market.

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Big Hit Entertainment & Naver Plans to Partnership with Universal Music Group Group

Earlier, Naver has acquired 49% of shares in a Big Hit Entertainment subsidiary, beNX, which manages the operation of Weverse. beNX will merge the V-Live platform from Naver into the ‘Weverse’ platform. Soon, beNX will change its name to Weverse Company.

As reported by Hankyung media on February 4, beNX plans to make a business partnership with Universal Music Group. The partnership aims to extend its business market to global markets, particularly in the United States.

Moreover, beNX and Universal Music Group may establish a new joint project based in the United States with the partnership. The joint project will manage and support Universal Music Group artists’ activities.

Will Universal Music Group artists join the Weverse?

Universal Music Group has a big list of global pop stars. Such as Maroon 5, Mariah Carey, Taylor Swift, Rihanna, and more. At the moment, four Universal Music Group artists have signed in at Weverse.

They are Gracie Abrams, Young Blood, New Hope Club, and Alexander 23. On the platform, they have channels to communicate with their fans.

Listen up cause it won't take too long??

Create posts with your favorite #NewHopeClub images and the hashtag #HowtoSay_ILoveNHC on #NewHopeClubWeverse for a chance to win a special prize!?

Find out more ? https://t.co/hfOMfefMwM pic.twitter.com/24cOWcXWhS
— Weverse (@weverseofficial) February 3, 2021

Following the joint project between beNX and Universal Music Group, Universal Music Group artists are set to join an integrated global fan platform in the future.

Meanwhile, Big Hit Entertainment stated that they cannot confirm the report yet.

Source: 1