The Walt Disney Company Asia Pacific and Korean music giant HYBE have signed a global content deal.
The agreement includes the global distribution of five major content titles from HYBE, which include two exclusive series featuring the company’s flagship K-pop group, BTS.
Of the three HYBE projects (two of which are BTS-related) announced so far, include, BTS: PERMISSION TO DANCE ON STAGE – LA.
This exclusive cinematic 4K concert film features BTS’ live performance in Los Angeles’ Sofi Stadium in November 2021, the first time in two years since the pandemic that the band performed in person.
The deal also includes IN THE SOOP: Friendcation, a travel reality show with a cast including V of BTS, Itaewon Class’ Seo-jun Park, Parasite star Woo-shik Choi, Hyung-sik Park, and Peakboy.
Also coming to Disney will be BTS MONUMENTS: BEYOND THE STAR, an original docu-series following BTS featuring what Disney says is a “vast library of music and footage over the past nine years.
Disney adds that the new BTS docu-series will feature “the daily lives, thoughts and plans of BTS members”, as they prepare for their “second chapter”.
BTS announced their “new chapter” last month when they revealed that they will be taking a break to focus on solo projects.
HYBE-owned label BIGHIT MUSIC confirmed that the group will be focusing on solo projects going forward, but insisted that they will also remain “active as a group”.
News of a BTS ‘hiatus’ caused HYBE’s shares to fall by nearly 25% to 145,000 South Korea Won on Wednesday June 15, wiping around $1.5 billion from the K-pop giant’s market cap value.
In the press release announcing its strategic collaboration with HYBE, Disney says that it will introduce a series of new titles from HYBE over the next few years, “as the entertainment platform continues to produce high-quality content based on its music and artists’ IPs”.
“This collaboration represents our creative ambition – to work with iconic content creators and top stars in Asia Pacific so their talent can be enjoyed by mainstream audiences in multiple ways.
Jessica Kam-Engle, The Walt Disney Company
Jessica Kam-Engle, APAC Head of Content, The Walt Disney Company, said: “We are thrilled to be collaborating with HYBE to showcase their original content created with powerful artist IP on our global streaming services including Disney+.
“This collaboration represents our creative ambition – to work with iconic content creators and top stars in Asia Pacific so their talent can be enjoyed by mainstream audiences in multiple ways.
“We believe these new titles will captivate consumers worldwide and look forward to introducing more music content on our service.”
“The Walt Disney Company has a long history of franchise building and promoting musical artists, with its unparalleled brands and platforms.”
Park Ji-won, HYBE
Park Ji-won, CEO of HYBE, said: “This will be the start of a long-term collaboration, where we present worldwide audiences a wide range of HYBE content for fans who love our music and artists.
“The Walt Disney Company has a long history of franchise-building and promoting musical artists, with its unparalleled brands and platforms.”
According to investor filings published in May, HYBE generated revenues of South Korea Won (KRW) 285 billion in the three months ended March 31.
That Q1 revenue figure converts to approximately USD $226 million at current exchange rates, an increase of 59.8% year-over-year.Music Business Worldwide
