UMG & Big Hit Entertainment collaborate to launch a “Global” Boy Band in 2022

UMG & Big Hit Entertainment collaborate to launch a “Global” Boy Band in 2022
  • The Korean entertainment agency and the music giant will work together to announce a K-pop boy band in the United States
  • This partnership will prove beneficial for the future of K-pop and create new opportunities for artists around the world, possibly “rewriting global music history”
Universal Music Group (UMG) and Big Hit Entertainment, two of the most instrumental music companies in the world, have reportedly signed an extended partnership which will create new opportunities for musical technology, artists across the world and for K-pop. For the record, Big Hit Entertainment is a Korean music agency that has global chart-topping artists like BTS, con

UMG invests in Big Hit’s livestreaming content platform VenewLive

UMG invests in Big Hit’s livestreaming content platform VenewLive
Universal Music Group is reportedly making an investment in VenewLive, the livestreaming content platform owned by K-pop giant, Big Hit Entertainment. The transaction also comprises Blackpink’s record label, YG Entertainment, as an investor. The new backing will enable Big Hit to exercise the potential of livestreaming technology by extending the reach of its livestream events. Universal and YG will also have the opportunity to develop new avenues for their artists to connect with their fans. According to the CEO of Big Hit Global, Lenzo Yoon, the company’s dream and objective is to offer the most advanced technology that is presently available so that fans could experience the content of the artists in the best manner p

Spotify commences the testing of live lyrics feature in the US

Spotify commences the testing of live lyrics feature in the US
  • The music streaming service provider will now collaborate with Musixmatch for offering this feature
  • Currently under testing, Spotify has declined to reveal additional details regarding the expansion of this test
Swedish media service provider and audio streaming platform Spotify has reportedly confirmed its testing of a live lyrics feature in the United States market. Spotify has been offering this service in over 27 markets, including its latest release in South Korea. However, this feature was not available to American users for several years. In the U.S., Spotify, in partnership with Genius, offers the “Behind the Lyrics” feature which provides a combi

TikTok strikes global licensing deal with Universal Music Group

TikTok strikes global licensing deal with Universal Music Group
Chinese video-sharing social networking service- TikTok has reportedly inked a global licensing deal with leading American music corporation- Universal Music Group. Apparently, the ByteDance- owned video app struck a similar agreement with Sony Music in November and Warner Music Group in December. For the record, the announcement was made few days after Universal pulled its catalog from TikTok’s competitor, Triller, with the company accusing the platform of withholding the payments to its artists. As per a statement by the company, this new global agreement between TikTok and Universal Music Group offers equitable compensation to recording artists and songwriters and considerably expands and improves the firm’s prevailin

Sony Music acquires AWAL and Kobalt neighboring Rights in a $430M deal

Sony Music acquires AWAL and Kobalt neighboring Rights in a $430M deal
Sony Music, a leading American global music firm under the Sony Corporation of America conglomerate, has reportedly inked a new definitive agreement to procure AWAL, the independent distribution as well as label division of Kobalt Music Group, and its neighboring rights unit, both companies announced the new deal on Monday, Feb 1, 2021. According to reports, The proposed deal, which would still need to obtain regulatory approval to go through, would see Sony Music pay over $430 million to Kobalt Music Group. The deal would be subject to conventional working capital as well as other adjustments. As per the announcement, AWAL as well as the neighboring rights unit would be working as an independent new division, which would be connected

Sky UK to boost original content catalogue to take on streaming rivals

Sky UK to boost original content catalogue to take on streaming rivals
Renowned British telecommunications company and broadcaster, Sky UK, is reportedly squaring up to Amazon, Disney+, and Netflix, in the battle to gain higher viewership by expanding its original British shows catalogue by over 50% and also releasing new, exclusive films every fortnight, which also includes a biopic backed by Danny Boyle about Creation Records, a Britpop record label. Driven by Britain’s growing appetite for binging on new series during the COVID-19 pandemic, the total number of subscribers to the aforementioned three main streaming services has hit approximately 32 million, which is double that of the conventional pay-TV firms like BT, Virgin Media, and Sky. With lockdowns across UK pushing up the digital conten

Interscope inks a new JV with Adam Mersel’s Immersive Records label

Interscope inks a new JV with Adam Mersel’s Immersive Records label
Interscope Geffen A&M has reportedly signed a joint venture deal with the Immersive Records, a label owned by renowned artist manager, Adam Mersel, who is presently guiding the career of Ben Platt, the Emmy, Tony, and Grammy Award-winning superstar. Prior to that, Mersel has also helped guide singer Bebe Rexha to a diamond-validated status, and worked closely with artists such as Robin Thicke and Sara Bareilles. Sources cite that before the launch of Immersive Management in 2020, Mersel was working at First Access Entertainment and Career Artist Management, where he has worked with Thicke, Rexha, Bareilles, and other successful artists. That same year, Mersel also looked after the releases of “Sing to Me Instead”, whic

K-pop boy band GOT7 departs from recording label JYP Entertainment

K-pop boy band GOT7 departs from recording label JYP Entertainment
GOT7, a renowned K-pop boy band has reportedly announced that it is officially parting ways with recording label JYP Entertainment, a leading South Korea-based multinational record label and entertainment conglomerate. Band members JB, Mark Tuan, Jinyoung, Jackson, BamBam, Yugyeom, and Youngjae, all took to their respective Instagram handles to make heartfelt posts, that apparently confirmed the official departure of the band from the agency. According to reports, all GOT7 band members would be departing from JYP Entertainment after their respective exclusive contracts with the company come to an end in January. Band member Mark Tuan recently tweeted out to fans assuring them that all seven band members would be staying together as GOT7

Hipgnosis secures additional $200M to acquire music copyrights

Hipgnosis secures additional $200M to acquire music copyrights
The board of Hipgnosis, a renowned music IP investment company, has recently announced to its investors that the company has signed a new agreement with a syndicated group of lenders wherein JP Morgan & Chase Bank is the Lead Arranger. Reportedly, those lenders have raised Revolving Credit Facility of Hipgnosis from USD $400 million to $600 million. This has obviously increased Hipgnosis’ access to credit by $200m on the company’s previous agreement with the lenders, announced last year in July. In a note to shareholders, Hipgnosis stated that the company may request for a further increment of $150 million in the Revolving Credit Facility commitment, depending upon certain conditions. The company also added that as per