The Walt Disney Company Asia Pacific and South Korean music giant HYBE have signed a global content agreement.
The deal includes the global distribution of five major content titles from HYBE, including two exclusive series featuring the company’s flagship K-pop group, BTS.
Among the three HYBE projects (two of which are related to BTS) announced so far include, BTS: DANCE LICENSE ON STAGE – LA.
This exclusive cinematic 4K concert film features BTS’s live performance at Sofi Stadium, Los Angeles in November 2021, the first time in two years since the pandemic that the band has performed live.
The agreement also includes IN THE SOOP: Friendship, a traveling reality show with a cast that includes BTS’ V, Itaewon Class’s Park Seo-jun, Parasite star Woo-shik Choi, Hyung-sik Park, and Peakboy.
Also coming to Disney will BTS’ MAY: BECOME A STARan original documentary series following BTS that features what Disney says is “an extensive library of music and footage from the past nine years.
Disney added that the new BTS docuseries will showcase the “daily lives, thoughts, and plans of the BTS members,” as they prepare for their “second chapter.”
BTS announced their “new chapter” last month when they disclosure that they will be taking a break to focus on solo projects.
HYBE-owned company BIGHIT MUSIC has confirmed that the group will focus on solo projects in the future, but emphasized that they will also remain “active as a group”.
News of BTS ‘disruption’ causes HYBE’s stock to drop almost 25% off to 145,000 South Korean Won on Wednesday, June 15, wiping out about $1.5 billion from the K-pop giant’s market capitalization.
In a press release announcing the strategic partnership with HYBE, Disney said that it will introduce a host of new titles from HYBE over the next few years, “as the entertainment platform continues to produce high-quality content based on the music and IP of the artists”.
“This partnership showcases our creative ambitions – partnering with iconic content creators and top stars in Asia Pacific so mainstream audiences can enjoy their abilities in many ways.
Jessica Kam-Engle, The Walt Disney Company
Jessica Kam-Engle, Head of APAC Content, The Walt Disney Company, said: “We are thrilled to partner with HYBE to showcase their original content created with powerful artist IPs across services. Our global streaming service includes Disney+.
“This partnership showcases our creative ambitions – partnering with iconic content creators and top stars in Asia Pacific so mainstream audiences can enjoy their abilities in many ways.
“We believe these new titles will appeal to consumers around the world and look forward to introducing more music content on our service.”
“The Walt Disney Company has a long history of building franchises and promoting musical artists, with unparalleled brands and platforms.”
Park Ji-won, HYBE
Park Ji-won, CEO of HYBE, said, “This will be the start of a long-term partnership where we will present a wide range of HYBE content to fans around the world worldwide. our favorite music and artists.
“The Walt Disney Company has a long history of building franchises and promoting musical artists, with unparalleled brands and platforms.”
Based on investor profile announced in May, HYBE generated 285 billion Korean Won (KRW) in sales for the three months ended March 31.
That first-quarter revenue figure translates to about $226 million at current exchange rates, up 59.8% year-over-year.Worldwide music business
