said would feature “honest music about everyday life that peers in their age group will be able to relate to.” Park said that the company would announce more news about its U.S. girl group project being jointly developed by HYBE America and Universal Music Group, and “provide more directionality on HYBE America,” in its second-quarter earnings call.
The Korean music company continued to tout the growth of its artists-to-fans engagement platform, Weverse, which debuted in 2019. Monthly average users rose by 46% to 9.36 million year-on-year, and the average time spent on Weverse has increased over the last three quarters. One analyst noted, however, that the average revenue per paying user , had fallen in the first quarter compared to the same period in 2022.
and other Japanese artists have been joining the platform, and some North American artists are expected to come on board in the second half of the year.The platform’s Weverse Live, which has video-streamed everything from artists’ birthdays to large-scale festivals and concerts like BTS’ Busan show, is also growing rapidly.