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| Photo=HYBE |
[Alpha Biz=(Chicago) Reporter Paul Lee] HYBE announced on the 27th that it has signed a global exclusive distribution contract for music and records with Universal Music Group (UMG), the world's largest music company. The purpose of collaboration is to strengthen the global influence of POP.
Under the contract, Universal Music Group will exclusively distribute physical records and digital sound sources released by HYBE-affiliated labels to the global market over the next decade. Universal Music Group has also decided to support the promotion and marketing of HYBE Labels artists' activities in North America.
Universal Music Group can strengthen its music portfolio, and HYBE can use a large distribution network, which is considered a Win-Win strategy.
HYBE plans to speed up its global expansion strategy through collaboration with Universal Music Group.
Alphabiz Reporter Kim SangJin(hoondork1977@alphabiz.co.kr)
