HYBE Shares Gain 18% Following UMG Partnership Announcement as Music Stocks Rise Overall ...Middle East

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HYBE Shares Gain 18% Following UMG Partnership Announcement as Music Stocks Rise Overall
HYBE shares jumped 17.5% to 230,000 won ($170.84) this week following news that the company struck a 10-year partnership with Universal Music Group (UMG) that calls for the label to distribute HYBE’s physical and digital music and put its artists on HYBE’s Weverse social media platform. HYBE America CEO Scooter Braun will oversee all promotional and marketing collaborations between the two companies. After dropping 9.1% over the previous four weeks, the announcement brought the South Korean company’s year-to-date deficit to just 1.5%.  Another K-pop company, SM Entertainment, was one of five music companies to post d

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