HYBE and Universal Music Group have announced their new global partnership.

On 27 March (Wednesday), a new global agreement between HYBE and UMG was announced, giving UMG exclusive distribution rights across HYBE's roster of artists and labels. The expanded long-term agreement will run for the next 10 years, offering HYBE's roster access to UMG's leading global network, as well as bring UMG artists and their fans a direct connection via HYBE's superfan platform Weverse.

UMG’s Chairman and CEO, Sir Lucian Grainge, HYBE’s Chairman Bang Si-Hyuk, and HYBE America’s CEO Scooter Braun signed the deal to fruition.

"A partnership of this magnitude only comes together when both sides are equally committed to continued growth," Bang Si-Hyuk shared in a statement. "UMG is an iconic music company and together with HYBE, the potential is endless. We are certain that this will expand our global footprint, while benefiting our fans, artists, and labels."

Sir Lucian Grainge added, "Chairman Bang, Scooter Braun, and Jiwon Park have brought an innovative and progressive vision to the industry that underscores music’s global power. With the opportunities in engaging the superfan via their groundbreaking Weverse model, we’re thrilled to grow and expand our platform business collaboration as we evolve together leading the music industry’s evolution."

Additionally, HYBE and UMG will collaborate on artist promotions and marketing activities in North America.

"This incredible partnership between our companies will ensure mutual benefits and collaborations for the fans, teams, artists, and labels around the world," said Scooter Braun in a press release. "The opportunity created here not only allows us to help our current roster, but grow opportunities for independent artists and labels globally. I’ve known and respected Sir Lucian Grainge for many years, and alongside Chairman Bang and HYBE CEO Jiwon Park, we look forward to the undeniable opportunities that will come from this partnership as we together grow the music industry’s future."

HYBE and UMG's collaborations began in 2017, through a distribution agreement for BTS in Japan. Their partnership grew with a global strategic agreement across multiple projects.

Geffen Records and UMG previously announced the launch of The Debut: Dream Academy, a global audition that led to the discovery of six trainees for their upcoming girl group KATSEYE, who will debut later this year.