WeVerse Under Fire for Mandatory Revenue-Sharing Model, Taking Up to 60% from Labels

WeVerse Under Fire for Mandatory Revenue-Sharing Model, Taking Up to 60% from Labels

By Marcus Bennett

November 16, 2024 at 07:36 PM

WeVerse, Hybe's popular fan platform, is facing criticism for implementing a mandatory digital membership service that requires partner labels to participate in a controversial revenue-sharing model.

The new subscription service, launching December 1st, affects over 130 music labels and introduces several premium features:

  • Ad-free video streaming
  • Higher-quality videos
  • Offline access
  • Exclusive digital benefits

Businessman speaking at microphone

Businessman speaking at microphone

Key concerns include:

  • Revenue split: WeVerse takes 30-60% of subscription revenue, leaving labels with 40-70%
  • Mandatory participation: Labels must join to maintain platform presence
  • Subscription costs: Monthly fees range from $2-4 for users
  • Market dominance: WeVerse's 10 million monthly active users make it difficult for labels to opt out

The platform currently hosts 152 teams, with 137 being non-Hybe affiliated. Democratic Party Representative Lee Jung-mun has called for the Fair Trade Commission to investigate potential monopolistic practices and unfair treatment of affiliated companies.

This comes in addition to WeVerse's existing $24 annual community membership, which offers early ticket access and exclusive content.

Related Articles

Previous Articles