BTS’s South Korean agency, HYBE, has finally confirmed the circulating plans regarding the group’s plans to part with their US company, Columbia Records in favor of Universal Music Group.
For those unversed, the rumoured news has been circulating across multiple social media platforms but only recently has it been confirmed by the boys’ parent company.
The company released their official statement to The Wall Street Journal and were quoted saying, “While we greatly appreciate our time with Sony and will forever be grateful for all they have done and will continue to do, we look forward to our new chapter in partnership with Universal.”
However, no financial terms regarding the change have been disclosed as of yet.
Prior to the finalization of this new deal, Universal Music Group was already in charge of the distribution of all of BTS’ Japanese releases.
At the same time, they also announced plans for a strategic partnership to create a new global boy band through a US audition plan.
At the time they claimed, “A joint venture headquartered in Los Angeles will serve as the label overseeing this new group. Big Hit will work closely with Universal Music Group through Big Hit America, our U.S. arm.”
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