South Korean pop music (K-pop) is now very popular worldwide. In the past few years, the boy band BTS has had a lot of success in America and Europe. They became the first K-pop band to have a number one song on the US music charts. The popularity of K-pop has caused big record labels to put more money into Korean bands. The world's biggest music label, Universal Music Group, will join a live-streaming music platform set up by Korea's biggest record labels. Universal will invest in Big Hit Entertainment. This is the company that BTS belongs to.
Universal has teamed up with the label YG Entertainment. The girl band BLACKPINK may be YG's next global success. YG said: "We will work closely with…Universal…globally for the successful…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: "Real talent rises above culture and language and has 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."