World's biggest music company to invest in K-Pop
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The reading
Pop music from South Korea (K-pop) has become very popular around the world. In 2012, the South Korean artist Psy received the most views ever on YouTube with his song Gangnam Style. In the past few years, the Korean boy band BTS has had considerable success in America and Europe. They became the first K-pop band to have a number one on the US music charts. The popularity of K-pop has caused major record labels to put more money into Korean acts. The world's biggest music label, Universal Music Group, has said it will join a live-streaming platform set up by Korea's major record labels. Universal will invest in the platform launched last year by Big Hit Entertainment, the company BTS belongs to.
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Another Korean pop group, the girl band BLACKPINK, is also set to become popular worldwide. Universal has teamed up with their label, YG Entertainment. The chairman of YG said: "We will work closely with the biggest music company, Universal Music Group, globally for the successful global debut and promotion of BLACKPINK. In addition, we will do our best to help other YG artists to break through into the North American and European markets." YG added: "Music and real talent rise above culture and language and have no boundaries. Through this partnership we feel we can truly showcase our artists' potential on a bigger scale. We look forward to what's to come in the future."
Sources:
- https://www.bbc.com/news/business-55993098
- https://www.musicbusinessworldwide.com/universal-signs-k-pop-girl-band-to-interscope-can-they-repeat-bts-success/
- https://www.independent.ie/entertainment/music/universal-music-group-joins-forces-with-k-pop-labels-for-livestreaming-platform-40073719.html
